Legacy – ‘A Gift For Life’
It gives you the opportunity to support the work of a cause close to your heart or support in a way you may not have been able to do during your lifetime. It also means that your generosity will be remembered and appreciated for years to come by service users at Praxis Care.
A will is a way to ensure your possessions and finances are distributed according to your wishes. It is about remembering the people and the causes that you care about. The idea of making a will is something, which may make us feel uncomfortable. However, it is something that all of us should do at an early age to ease the burden of the loved ones we leaves behind.
A will is a legal document and we recommend that you obtain the advice of a Solicitor.
There are four types of legacies.
Types of legacy
The Pecuniary legacy
This form of legacy allows you to give a specific sum of money to Praxis Care.
As the value of a specific sum will decrease over time owing to inflation, it is possible to index-link the sum so that it maintains its current day value.
The Revisionary Legacy
This is an attractive method of providing for your family first and then benefiting Praxis Care. It involves leaving your assets to Trustees so that the beneficiaries can enjoy the income and/or the property during their lifetime, with the whole or portion going to Praxis Care on their death.
The Residuary Legacy
This involves leaving all or parts of the Net Residue of your Estate to Praxis Care, after all the pecuniary legacies and any other bequests of property, debts, and other liabilities have been met.
This gift has more flexibility than a pecuniary gift in that you do not quantify the sum of take into account inflation when you draw up your Will.
The Specific or non Money Legacy
You can leave a specific personal possession to Praxis Care. Examples include: property, jewellery, antiques, and works of art, stocks and shares. Provision for a legacy can be made in your original will or Praxis Care can be added as a recipient at any stage using any bequests you make in your Will to a registered Charity are exempt from Gift or Inheritance Tax.
Bequests to Praxis Care are Tax Free.
For further information on legacies or call Praxis Care Fundraising Department on 0044 28 90 234 555