There are different ways you can support hospice care for local people with a gift in your Will
There are several kinds of gifts you can leave. Each gift is special to us and ensures that we're able to provide the very best care and support to those who need us, today and into the future.
- A cash ('pecuniary') gift
This is when you choose to leave a single, precise cash gift from your estate
- A specific gift
This type of gift is usually something like property or an individual valuable item, such as an antique or piece of jewellery
- A life interest
If you wish, you can leave a gift for use over a specific period – for example, the income from an investment. After that time has passed, the gift could then be passed on to another recipient or family member.
- A share of your estate ('residuary') gift
After you've provided for your loved ones and taxes have been paid, you could choose to leave a share, or the full remainder (the residue) of your estate to St Peter's Hospice. This means your estate is passed on to those you care about as well as supporting hospice care into the future.
- A house clearance
St Peter's Hospice has for many years offered a bespoke house clearance service. Here, you would identify the specific items or belongings you wish to leave to your loved ones – and then leave the remainder to St Peter's Hospice. Our team of staff and volunteers will then sensitively arrange to come and clear your house of remaining furniture and belongings, which we will then sell on in the most effective way possible – the proceeds all going towards local hospice care.
Good financial planning is essential in order to maximise the sum you are able to leave to your loved ones. Each individual has a tax-free allowance of £325,000 (correct as of July 2021) before Inheritance Tax at 40% becomes due (plus a further £175,000 if the family home is passed directly to their descendants).
All gifts to charities such as St Peter’s Hospice are deducted from the value of the estate before Inheritance Tax is calculated. This means that a gift towards local hospice care can reduce the total amount of Inheritance Tax due.
For more information, please speak to your solicitor or visit the HMRC website.