Legacies: A promise to future generations

A gift to the Norfolk Heritage Fleet Trust in your Will means that you will help future generations to experience and enjoy this unique fleet of wooden boats

For more information please download our Legacies Leaflet which contains information about the Trust and how your legacy can help us to help future generations

Download Our Legacy Leaflet By Clicking Here

 

 

Legacy Leaflet – Additional Notes

Remembering the Norfolk Heritage Fleet Trust in your Will would help to ensure the future of the Hunter Fleet – a gift can be any size, e.g. £20 is welcome, £20K would be wonderful, or any other part of your surplus.

After the first priority of providing for loved ones the following list describes the different ways of giving;

(1) A Codicil is a simple legal postscript that makes a valid change or addition to an existing Will. The Codicil form can be accessed from a solicitor or downloaded from

http://www.charitychoice.co.uk/_global/downloads/Charity-Choice-Codicil-Form.pdf (or use the following link to download a pdf copy)  Codicil form PDF

(2) In Memoriam Gifts These are gifts to a charity (such as the Norfolk Heritage Fleet Trust) which are in place of flowers where only Family flowers are often desired.

  1. (3)  Pecuniary Legacy This is a gift in the form of a specific sum of money.
  2. (4)  Residuary Legacy A gift of what is left of an estate (or a proportion of the total) after all costs, taxes and other legacies have been taken into account.
  3. (5)  Reversionary Legacy A legacy that is only passed on to the beneficiary after the lifetime of another you want to benefit first, such as a spouse.
  4. (6)  Specific Legacy A gift of a particular item in your Will.

The Tax situation on Legacies. It is really important to take legal advice when making a Will, particularly to help minimise Inheritance Tax (IHT) if applicable. If you do not have a solicitor it is possible to find one in your area on-line via

lawsociety.org.uk/find-a-solicitor

As the tax laws stand at present all gifts to charity are fully exempt from IHT. In addition, the value of your estate for IHT assessment is reduced by the value of your gift so that the tax can be reduced or even eliminated. However, a solicitor or Accountant should be consulted to discuss the up-to-date tax implications for each individual’s circumstances.

To ensure that both you and the Norfolk Heritage Fleet Trust will ultimately benefit from your gift in the most tax efficient way you, or your solicitor, will need the following information:

Registered Name: Norfolk Heritage Fleet Trust
Registered Office: Horse Fen Road, Ludham, Great Yarmouth, Norfolk NR29 5QG Registered Charity Number: 1052303

Please do not hesitate to contact us if you would like further discussion or information.

January 2018