The Society receives no funding for our work, so we are dependent on the generosity of people, both past and present, who have made gifts to the Society.
Legacies have been the main source of the Society’s funds over the years, many coming from former beneficiaries who left the Society, and an element of their estate in thanks for the help they received from the Society during their lifetime.
We fully respect that most of our former beneficiaries are not in a position to leave the Society anything, but we are always very grateful for such legacies both because they will help us to help more women in need in the future, but also because they underline just how important the Society’s support has been to our beneficiaries.
Reduction in Inheritance Tax payable
Leaving a legacy in your will is one of the most effective ways you can support our work because it can reduce the amount of Inheritance Tax payable on an estate. While many estates do not have to pay any Inheritance Tax, if yours does, there is no limit on the amount which can be given tax-free to charities and if more than 10% of an estate is given to charity, the rate of duty paid on the remaining estate is reduced.
How to leave a Legacy from your will
You can make several different kinds of gift to the Society in your will. For example you can leave:
- A specific amount of money – for example £25,000. This is called a pecuniary legacy.
- A specific item (or items) of property – for example a house, a painting, some jewellery
- A share of the residue of your estate after costs have been paid and any specific bequests made – for example 20% of your estate. You might want to share the residue of your estate amongst several people or charities, but you can leave all the residue of your estate to the Society if you wish.
Leave a Legacy in memory of someone who has died
Over the years the Society has also received many gifts from family members of former beneficiaries in thanks for the help the Society provided their mother (or indeed their aunt, sister, friend or any other relationship) during their lifetime. Again, we never expect such support, but we are always very grateful for it both because they will help us to help more women in need in the future, but also because they underline just how important the Society’s support has been to our beneficiaries.
If you are thinking of leaving the Society a legacy in your will, please contact the Chief Executive via Contact Us and we will be happy to provide any support or information we can.