Legacy giving is immensely important in sustaining the future of arts in the region. Newlyn Art Gallery & The Exchange, Penlee House Gallery & Museum and Leach Pottery, all based in West Cornwall, have partnered together as Penwith Legacy Partnership to raise awareness about this.
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.
For more information view or download Legacy Partnership Leaflet
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. In our tenth Anniversary year and until 2019, all legacy gifts are matched by Arts Council England’s Catalyst: Evolve initiative, thereby doubling their value to the support of art and artists in the region.
To leave a gift or discuss how you can help support us, please contact:
Tamsin Young, Development Manager
01736 363715 [email protected]