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How To Give to The Derbyshire Community Foundation
Legacies
Leaving a tax-free donation in your Will can be your 'legacy' to generations that follow.
Derbyshire Community Foundation can help you with the various ways of leaving a legacy and ensure continued support for those causes closest to you now and in the future.
For donations over £25,000 we can establish a named fund from your legacy.
Legacy donation
Leaving a donation in your Will really does provide you with a simple, effective and tax free way of ensuring that you can continue to support the local community beyond your own lifetime.
This can be your 'legacy' to generations that follow and we can help you to ensure that you carry on providing support to those causes that are closest to you now.
One of the most significant benefits of leaving a legacy to the Derbyshire Community Foundation (or any other charity) is that it is totally tax free, regardless of the amount of the donation. In addition, the total value of the gift is deducted from the total gross value of the estate when calculating inheritance tax. This may reduce the amount of tax that your beneficiaries have to pay.
Types of Legacy
There are various ways of leaving a legacy as part of an estate. For example:
- A Pecuniary Legacy - is a fixed amount specified in a Will. It is free of tax, which adds considerably to the value of the gift.
- Gifts of shares or property - are exempt from capital gains tax and qualify for income tax relief, following incentives introduced in the 2000 Budget to encourage gifts to charity.
- A Residuary Legacy - is the remaining value of an estate when all other bequests to family and friends have been made.
- A Reversionary Legacy - allows the surviving partner to benefit from the estate during his or her lifetime and then for the balance of the estate to be passed to the Community Foundation.
Named Fund
You can choose to set up a Named Fund with a minimum donation of £25,000 and we will work with you to ensure that broad criteria are set so that we can continue to support your interests. Working with our Chief Executive, we can also involve your family and friends in deciding which causes you support. General Endowment Fund
Alternatively you can choose to support our General Endowment Fund which provides grants to community and voluntary groups across Derbyshire. Within this fund you can specify broad issues that you would like the funding to support, for example, older people or children’s projects in certain areas of the County.
To find out more about leaving a legacy visit rememberacharity.org.uk.
We never forget that each fund is different and we prefer to set the criteria for your fund in consultation with you and your advisors. Please contact Rachael Grime on 01773 514851 to discuss how to set up your fund.
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