Legacy
Newlyn Art Gallery. Photo by Steve Tanner
Legacy giving is immensely important in sustaining the future of arts in the region.
Making a will is simple and straightforward and ensures that your wishes are carried out after you pass away. A legacy gift is a charitable donation left in your will. It is important to take professional advice from a solicitor to ensure that your intentions are expressed in the correct legal terms.
UNDERSTANDING THE TERMS
- A Legacy Gift can be a specific cash sum or items of values such as paintings or artefacts
- A Residual Bequest is a percentage of your estate and is least affected by inflation
- A Reversionary Bequest means that the percentage of your estate will only pass to your chosen charity after the death of a spouse or relative, protecting the needs of your loved ones
- A Codicil is the addition of legacy gifts to an existing will
WHAT ARE THE TAX BENEFITS?
By giving 10% or more of your net estate to charity you may reduce the rate of Inheritance Tax for your heirs.
If you are considering leaving a legacy to Newlyn Art Gallery & The Exchange, please let us know so that we can acknowledge your gift in your lifetime.
To leave a gift or discuss how you can help support us, please contact:
Tamsin Young, Development Manager
01736 363715 [email protected]
