More and more people are leaving gifts to say thank you to their local community or to help those less fortunate than themselves. The Suffolk Foundation offers an ideal way to leave a legacy that will associate your name with the community you loved forever.

Because they reduce your inheritance tax liability, legacies are one of the most tax efficient ways to support charity. A legacy left to The Suffolk Foundation can create a named fund, from which grants will be made, in line with your wishes, in your name, for ever. Because we will assess grant applications carefully before distributing the income from your legacy, you can be confident the money you leave will always be used wisely and never at risk.

Smaller legacies can be incorporated within our Suffolk Fund, from which our Trustees make grants to projects we know will make a big difference. Whilst a named fund enables your money to go to causes you feel most strongly about, legacies in the Local Giving Fund give us the greatest flexibility. This way, your legacy can meet needs you could not have imagined during your lifetime.

We recommend you seek professional advice before writing or amending your will.

Types of Legacy

There are tax advantages in leaving a legacy to The Suffolk Foundation and various ways of leaving a legacy as part of an estate. For example:

A Pecuniary Legacy - is a fixed amount specified in a Will. It is free of tax, which adds considerably to the value of the gift.

Gifts of shares or property - are exempt from capital gains tax, following incentives introduced 2000 Budget to encourage gifts to charity.

A Residuary Legacy - is the remaining value of an estate when all other bequests to family and friends have been made.

A Reversionary Legacy - allows the surviving partner to benefit from the estate during his or her lifetime and then for the balance of the estate to be passed to the Foundation.

For more information on leaving a legacy for your local community through The Suffolk Foundation please contact Stephen Singleton, Tel: 01394 610203.

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