Leave a legacy
Thank you for considering leaving a legacy to Jewish Care. Your gift, whether small or large, will help us ensure that we can continue to deliver high quality care to vulnerable members of our community and will really make a difference.
Jewish Care relies on people’s kindness in leaving us gifts in their wills. Leaving a legacy is easier than you might think and will make a real difference to the lives of others."
Deed of variation
Sometimes, the beneficiaries of a will may wish to direct more of an estate to charitable causes.
Fortunately, it is possible to change a will retrospectively so long as it is done within two years of the date of death. This is achieved using a legal document called a deed of variation (DoV) which must be agreed by all of the beneficiaries.
Sometimes called an Instrument of Variation or a Deed of Family Arrangement, they are used to create or alter a deceased person's Will for various reasons but are generally used for Inheritance Tax (IHT) or Capital Gains Tax (CGT) purposes.
Good reasons to use a Deed of Variation
Siblings might be given different percentages of the residue but would prefer if they inherited the same amount.
A wealthy brother and a poorer sister being left the same share of the parents estate might agree to alter the percentages so that the poorer sister receives a larger share.
Inheritance tax breaks:
The nil-rate band (NRB) is the amount of a person's estate liable at 0 per cent inheritance tax (IHT), currently£325,000. A DoV can reduce the amount of inheritance tax paid on an estate. Beneficiaries who have children of their own might want to divert their own inheritance directly to their children so that their own IHT liability is reduced.
Help with your will
Drawing up your will
- Ask a practising solicitor to help draw up your will. This is the safest way to ensure that your wishes are carried out and to avoid misunderstandings.
- Make a list of all your assets and liabilities so you will have an idea of the value of your estate.
- Make a note of those you would like to benefit. Do not assume that those closest to you will automatically benefit - you must make a will to be sure that happens.
- Consider who you would like to appoint as executor(s). It is best to choose at least two people you trust to ensure that your wishes are carried out.
Remember that if your estate is worth over £325,000, any sum above this amount may be liable to Inheritance Tax (IHT). However, gifts to charity are usually exempt from IHT. Your solicitor can give you more advice about this.
Finding a solicitor
If you don’t have a solicitor, we’re happy to discuss the options in your area with you and help you come to an informed decision.
Before you meet a solicitor, consider:
What is the value of your estate? Once you know the value of your estate, decide how you would like it to be divided up.
Your executors will have the responsibility of administering your estate. Before writing your will you must decide whom you want your executors to be and let them know. Like your will, your chosen executors may need to change from time to time if their circumstances or your relationships change.
this useful document for suggested wording to give your solicitor.
What are the different types of legacy?
If you decide to leave a gift to Jewish Care, there are different types of legacy you may wish to consider:
The remainder of your estate after all your other wishes have been carried out and all expenses relating to your estate have been met. Generally, this kind of gift is of the greatest benefit to Jewish Care as its value increases in line with the value of your estate.
Where you give a friend or family member a life interest in your estate and after their death the remainder of your estate is made over to a charity or other beneficiary. This allows you to take care of those close to you for the remainder of their lifetime.
A fixed sum of money.The value of pecuniary legacies will decrease over time as a result of inflation.
To make a memorial (In memory) donation call 020 8922 2817 or read more in our How to give section of the website.