Can I choose how my gift will be spent?
Legacy gifts are so important, so we want you to be confident that your gift will make the greatest impact. Because it’s hard to know when your gift will happen, its useful to be able to use your gift at that time for the greatest good. If you have a view on areas of work that are important to you, please let us know and we can work with the executors of your will to do our best to meet your wishes.
What type of gift can I make?
The main types of gift people make are a share of their estate (called a residuary) or a single gift (called a pecuniary). Many people prefer to give a residuary gift because it keeps in line with inflation and doesn’t lose value over time. Many supporters like to leave a % of their estate after they have looked after friends, family and loved ones.
Wouldn’t it be better to help now rather than later?
Lots of supporters like to give in life right now as well as leaving a gift for when they have gone. For many, it allows you to keep giving. For some, it’s now that matters. For others it the confidence of a gift later. All gifts matter to us and we are really grateful for people’s generosity during life and beyond. People have given to us for over 130 years and it’s because of this we have been able to deliver for each generation and those to come.
How do I change my will or add to an existing one?
The only way to change your will is to either make a new one or add a codicil (which amends your will, rather than replacing it). Like a will, a codicil needs to be properly witnessed to be valid.
Do I need to tell London Youth that I have made a gift in my will?
You don’t need to tell us that you have left a gift in your will, but we would love to hear and thank you. We understand you may want to keep things confidential, and we will of course respect that, but letting us know means we can share with you the difference gifts like yours make. Either way you can talk to us at any time if you need help or guidance.
Are gifts to charity in my will Inheritance Tax free?
Where 10% or more of an estate is left on death to charity the estate will attract a 10% discount on the rate of IHT paid. This means it will attract IHT of 36% instead of 40%. The charitable gift itself is exempt from IHT. We would recommend that you take professional advice so you can manage IHT.
What will my family think?
We believe that family and friends come first, and that a small share after you have looked after them could make such a difference to your charities. It’s a good idea to talk through your plans in life so people understand your wishes.