How do I leave a legacy?
Whether you already have a will or not, leaving a legacy can be simple.
If you don’t already have a will, we would suggest visiting a practicing solicitor to help you with this. You can also take advantage of our free will offer with Farewill.
If you already have a will, you can simply ask your solicitor to add a ‘codicil’ (the legal term for an amendment). Or, if you would like to make substantial changes, it may be better to ask your solicitor to draft a new will. You can find our suggested wording below or in our information pack.
Do I have enough to leave a legacy?
Of course, your loved ones should always come first, but any gift that you leave to Plan International UK, no matter how big or small, will mean we are able to continue to reach children in some of the world's poorest communities with essentials such as education, health care, clean water and toilets.
Are there any tax benefits to leaving a gift in my will?
Generally, if your estate is worth more than £325,000, inheritance tax is charged (at up to 40%) on the part of it over this threshold. This may be different for certain individuals, such as married couples, those who have been widowed and those leaving their family home to children or grandchildren – please ask your solicitor. But there are two ways leaving a gift to a charity can help reduce the impact of inheritance tax on your beneficiaries.
- Any gift to charity in your will would generally be exempt from inheritance tax thus reducing the amount of tax due from the estate.
- In some situations, anyone leaving 10% or more of their estate to charity may qualify for a reduced rate of inheritance tax – 36% rather than 40%.
Charities are also generally exempt from capital gains tax. When someone dies, the assets in their estate are valued and, if they are later sold during the estate administration at a higher value, capital gains tax may be payable on the increase (the gain). If however an asset is transferred to a charity before sale, this can reduce the estate’s capital gains tax bill (because the charity is exempt), which can therefore benefit the wider estate. Your solicitor can advise you further on this.
Can I leave a legacy to a specific type of project?
Yes, you can personalise your gift by requesting that it be used to support a certain area of our work like education, for example, or health and water.
We’ll do everything we can to follow your wishes, but, as life changes in developing countries, the focus of our work will change, so it’s best to allow some flexibility in your instructions.
If there’s a specific area you wish to support, please contact us to talk about how this might happen.
Can I leave a legacy to my sponsored child?
We aren’t able to give a gift to a specific child or family. The strength of our community approach is that our work benefits all the children in a community, not just those who are sponsored. However, you can ask for your gift to benefit our work in the country where your sponsored child lives, or a particular kind of project. Please get in touch if you’d like to discuss this.