“In this world nothing can be said to be certain, except death and taxes.”
Over the past decade our activites have increased exponentially. This has resulted in our annual budget increasing four fold. Approximately 40% is covered by membership fees, the balance is covered by fundraising from individuals and charitable trusts. Historically we have received very little funding from legacies. In order to secure the future of our community it is vital that members consider leaving a legacy to the Congregaion in their will.
The Gift of a Lifetime
Have you considered including a gift to the Shul in your will? As the largest single source of income to UK charities, legacies make a vital difference to good causes across the country. A legacy allows you to make a significant contribution to the future of the community. Free of inheritance tax, a donation made in your will can also help reduce the tax burden on your estate.
How does it work?
A charitable legacy could be a gift of money or of any other assets that you leave behind. While there are a number of options to consider, there are two main types of charitable legacies; pecuniary and residuary. Pecuniary legacies specify a sum of money or item of value to be donated, whilst a residuary legacy allows you to donate a percentage of the net value of your estate or the remaining sum after you have provided for family and friends.
What do you need to do?
To leave a legacy to charity, you simply need to include details of the donation in your will. This can be done by writing a will, by making an amendment or ‘codicil’ to an existing will or by setting up a Trust. Contact your solicitor or professional adviser to tell you more about how you can leave a legacy to Solihull Hebrew Congregation today.