Legacies
A legacy to The Royal Star & Garter Homes is one of the most precious gifts you can give to those who have done so much in the Service of their country. Legacies are vital in ensuring that we can continue to provide the very special care and support for disabled ex-Service men and women, and are an essential part of the Charity's future development programme.
As a token of our appreciation, we record the names of all the people who have left a legacy in our special Commemorative Book which is located in the main lobby of the Richmond Home. The names are entered under the date of passing away and the pages are turned every day so that our benefactors are remembered on each anniversary.
The names of all the people who have left a legacy will also be added to our new online Memorial Book, a wonderful way to enable loved ones to be remembered in a more personal way. For more information about this, please visit the online Memorial Book page.
Legacies account for over half of the Charity's voluntary donations and we would therefore be delighted if you could remember The Royal Star & Garter Homes in your Will.
If you require any further information about leaving a legacy to The Royal Star & Garter Homes please contact John Ingram, Legacy and Trust Manager by calling
020 8439 8125 or email john.ingram@starandgarter.org
Making a Will and the Tax Benefits of Leaving a Legacy
Making a Will ensures that your wishes regarding your money, property and possessions will be carried out after your death. You are able to secure the future for your family and friends by leaving them a particular item or a specific sum of money. You can also consider leaving a gift to causes or interests which are important to you.
If your estate - including any assets held in trust and gifts made within seven years of death - is valued over the current inheritance tax threshold (£325,000 in the 2010/11 tax year), then inheritance tax is payable at 40% on the amount over the threshold. However, any gifts made to charities, including The Royal Star & Garter Homes, are deducted from your estate before inheritance tax is calculated, so if the gifts to charity bring the value of your estate below the threshold, then there will be no liability to inheritance tax.
Since October 2007, married couples and registered civil partners can increase the threshold on their estate when the second partner dies - to as much as £650,000 in 2010/11. Their executors or personal representatives must transfer the first spouse or civil partner's unused inheritance tax threshold or "nil band" to the second spouse or civil partner when they die.
If your estate is over the inheritance tax threshold, your beneficiaries will only keep £6,000 out of every extra £10,000 that you leave. As a result many people find that they can make significant gifts to their favourite charities with no effect on the amount they can leave to family and friends.
There are many factors that can affect the level of inheritance tax and we would recommend that you consult a solicitor for proper advice about your own particular circumstances. Seeking professional help to make your Will can also help to avoid creating all kinds of other problems and uncertainties.
Download our leaflets as pdfs:
How to make a gift in your Will to the Royal Star & Garter Homes
