A bequest to charity enables you to make planned gift to a cause close to your heart, whilst ensuring dependants are provided for. Charitable legacies are paid before tax is deducted, reducing the total amount of tax paid on the estate.
What are legacies?
There are two types:
- residuary bequests - which means that once family and loved ones have been provided for, the remainder or a proportion of the deceased's estate is pledged to one or more charities.
- pecuniary bequests - which means that the deceased pledges a specific sum of money to a particular charity.
How do they work?
You can either name a particular charity in your will or leave a sum
of money to the executors with instructions as to how and to whom
the sum is to be distributed.
Where do I go from here?
To make or amend a will you should contact your solicitor or a will
writing service.
If you would like to leave a legacy to BCM then your solicitor, or whoever is drawing up your will for you, will need to use wording similar to that below:
| I give to Birmingham City Mission of 75 Watery Lane Middleway, Birmingham B9 4HN, Registered Charity Number 1051023, | |
|
either (i) |
the Residue
of my Estate |
|
or (ii) |
such sum of money as shall be equal to [percentage] of the Residue of my Estate (if you wish to leave a proportion of your estate to BCM ) |
|
or (iii) |
the sum of £ [in figures] £ [in words] (if you wish to leave a fixed amount to BCM) |
|
or (iv) |
my [full description of property] (if you wish to leave a particular item of property of your own. This must be clearly identified) |
| for the general purpose of Birmingham City Mission, and I declare that the receipt of the Treasurer, or other proper Officer for the time being, of Birmingham City Mission shall be an effectual discharge for | |
|
either (i) or (ii) or (iii) or (iv) |
the said Residue
the said sum of money the said Legacy the said property |
| Or you could add a Codicil to an existing will: | |
| By this codicil to my last will, I give to Birmingham City Mission of 75 Watery Lane Middleway, Birmingham B9 4HN, Registered Charity Number 1051023, | |
|
either (i) |
the Residue
of my Estate (if you wish to leave everything to BCM) |
|
or (ii) |
such sum of money as shall be equal to [percentage] of the Residue of my Estate (if you wish to leave a proportion of your estate to BCM ) |
|
or (iii) |
the sum of £ [in figures] £ [in words] (if you wish to leave a fixed amount to BCM) |
|
or (iv) |
my [full description of property] (if you wish to leave a particular item of property of your own. This must be clearly identified) |