Legacy fundraising is a means of donating money to charity, by leaving a gift in your will. After taking care of friends and family, some might like to make a final donation to a charity to which they have a personal connection or affiliation, or one which supports a cause they found important during their life – leaving a lasting ‘legacy’. Research finds, however, that lots of people are unaware of legacy giving and its benefits to charities.
Why is it important?
Every year, for over 40 years, Candlelighters supports hundreds of families across Yorkshire. Legacy donors have a special lasting impact, helping to secure support and improve outcomes for future generations of children with cancer. As a charity, we not only provide emotional, practical and financial support to families, but we invest in research into childhood cancers, in order to find more effective treatments and cures. By leaving a gift in your will to Candlelighters, we can continue to invest in research and support children and families affected by childhood cancer, from diagnosis to recovery and beyond. It’s through the generosity of people leaving gifts in wills that we can ensure that children with cancer receive the best quality of care and their families are supported.
Common misconceptions about legacy giving
You must leave a minimum amount – There is no minimum amount you have to leave as a gift within your will. All donations are gratefully received and play a crucial part in helping to support families of the future. You can even specify to donate what’s left after all other gifts have been given out.
Writing a will is time-consuming, complicated and expensive – There’s lots of guidance available to help when creating a will and you can always create a basic one, to be revisited later and add more detail. Many charities also have ‘Free Will Months’, working with solicitors to provide their services for free – keep an eye out for Candlelighters’ Free Will Month later this year.
You’ll be taxed on your donation – Unlike other gifts left in your will, legacy donations to charities are exempt from inheritance tax. You can also reduce the amount of inheritance tax you might pay on the rest of your estate if you decide to gift over 10% of the net amount to charity.
How to do it
Will writing doesn’t need to be scary and leaving a gift to Candlelighters can be very simple.
If you’d like to leave a gift to Candlelighters you will need to make a note in your will of our details below:
8 Woodhouse Square
Leeds, LS3 1AD
Registered Charity Number: 1045077
You can write a will with a will-writing adviser or by making an appointment with a solicitor. If you have already made a will, it’s not a problem, there are a couple of simple ways you can amend it.
The first is to write a new will; once a new will is written, it makes any wills made by you in the past, void. In fact, most wills will state at the start that by making a will, you’re revoking any previous wills.
In order to amend a will, you can use something called a codicil. A codicil is a document used to change a will that has already been made. You can use a codicil to make simple additions or amendments to an existing will, such as changing the amount of a gift of money, or the addition of an executor or gift.
Please ensure that when creating or amending a will, you seek proper legal advice.
To learn more about how you can support future generations of children in this special way, or for any help relating to leaving a legacy gift to Candlelighters please email firstname.lastname@example.org.