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 online Memorial Book. This is a wonderful way to enable loved ones to be remembered in a more personal way.
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.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 2011/12 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.
Inheritance Tax and your Estate
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 2011/12. 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.
There are three main ways to give in your Will
- A Specific Gift: You make a gift of a particular item
- A Pecuniary Gift: You leave a cash gift by naming a sum of money.
- A Residuary Gift: You leave a proportion of your estate after all the other legacies and expenses have been paid.
Preferred Wording
“ I give the whole / ___% of my estate not otherwise disposed of by this Will to The Royal Star & Garter Homes of Richmond Hill, Richmond,, Surrey TW10 6RR (Registered Charity Number 210119), for its general charitable purposes. I further direct that the receipt of the Honorary Treasurer or other proper officer of The Royal Star & Garter Homes for the time being shall be a full and sufficient discharge for the said legacy”
“I give free of tax the sum of £_______ (or the item specified) to The Royal Star & Garter Homes of Richmond Hill, Richmond, Surrey TW10 6RR (Registered Charity Number 210119) for its general charitable purposes. I further direct that the receipt of the Honorary Treasurer or other proper officer of The Royal Star & Garter Homes for the time being shall be a full and sufficient discharge for the said legacy”
You can now add to an existing Will
Advising us of your intention to leave a legacy
020 8439 8125 or emailing him at john.ingram@starandgarter.org
