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Leave a gift in your will to DGSM yourChoice
DGSM yourChoice is a well respected voice in the community providing information and advice to carers, their families and people with learning disabilities living independently or in supported and registered housing.
We urgently require funding to enable us to continue running the many services and projects we run for people with learning disabilities in the North Kent and Medway area. Why not make a lasting gift to DGSM yourChoice in your will?
Should you wish to remember DGSM yourChoice in your Will you might wish to take the following wording suggestions:
The Bequest:
“I give to the following institution DGSM yourChoice the sum of £….. and declare that the receipt of the treasurer or other proper officer for the time being of the institution shall be sufficient discharge to my trustees”. If DGSM yourChoice shall have amalgamated with another institution society or body or person or changed its name or constitution before my death the benefit intended to be given under such gift shall vest with that institution society or body or persons”.
There are three types of Bequest
• Residuary Bequest
A residuary bequest is a gift of all that is left of your estate after the will is distributed to family and friends. This is not a set amount.
• Pecuniary Bequest
A pecuniary bequest is a gift of a specific sum of money.
• Specific Bequest
A gift of a specific valuable object for example antique furniture or jewellery.
Inheritance Tax planning
IHT is payable on an estate that is above the following amounts for the tax years set out below
6 April 2009 – 5 April 2010 £325,000.00
There is no IHT payable as between spouses. To the extent that the value of an estate exceeds £325,000.00 (in this tax year), tax would be charged at 40% on the excess. If an estate was valued at £350,000.00, there would be IHT payable of £10,000.00 (40% x £25,000.00).
In the case of a married couple if an amount up to £325,000.00 is paid into a discretionary trust, that would serve to reduce the value of the estate of the surviving spouse.
Charitable donations are also exempt when calculating Inheritance Tax.
Adopting the example given earlier of an estate valued at £350,000.00, IHT of £10,000.00 was payable. If however an individual had left a legacy of £25,000.00 to DGSM yourChoice then there would be no IHT payable. Why give the money to the tax man when you can give it to charity?
For further information on leaving a gift in your will to DGSM yourChoice please email fundraising@dgsmyourchoice.org.uk
How best to provide for your loved one with a learning disability
Are you worried about what will happen to your loved one with a learning disability when you are no longer here?
DGSM yourChoice provides regular seminars giving information on Making plans—our Guide for the Future. The seminar’s give up to date information on making a will or setting up a Trust to ensure your loved one with a learning disability is cared for when you are no longer able to care for them. The seminar provides you with up to date information on how to make a will and how to leave money for your loved one with a learning disability. The seminars are held in partnership with expert local solicitor from Martin Tolhurst Partnership who present the events and are able to answer some of your questions.
Please click here to read an Introduction to Wills and Trusts: Providing financially for a person with a learning disability which provides an up to date guide by Solicitors Martin Tolhurst Partnership.
For further information on Martin Tolhurst Partnership which deals with all manner of legal issues please visit http://www.martintolhurst.co.uk/
For information on when the next seminar is taking place, please email fundraising@dgsmyourchoice.org.uk.
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