Chartered Institute of Fundraising - Legacies (2022)

Legacy Fundraising

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Introduction to legacy fundraising

Leaving a gift to a charity in a Will is likely to be the largest donation an individual ever gives to charity. Fundraising for legacy gifts is often built on establishing a long-term relationship between the potential legator (the person who leaves a gift in their Will) and the charity or charities that they choose to donate to.

It can also be a challenging area of work – legacy fundraising will by its very nature lead to some sensitive topics and conversations with an individual and potentially his/her family or next of kin. It’s also a complex area because of the regulatory and legal considerations of leaving Wills and the administration of estates. This means charities and fundraisers have to take care to ensure they are acting appropriately.

It’s important for legacy fundraising to:

  • Be characterised by honesty, openness and fairness
  • Respect, in all cases, that the decision is the potential legator’s and his/hers only
  • Treat all personal information as strictly confidential, unless explicitly agreed otherwise
  • Respect the sensitivity of the family and friends of the potential legator
  • Pay particular attention when communicating with vulnerable people, who could include, but are not limited to, the following: service users and client groups; the terminally ill; bereaved relatives or friends; and people with learning difficulties and/or disabilities
  • Do not denigrate another charity in any way, for example, by talking negatively of another organisation

When charities, or others acting on their behalf, undertake legacy fundraising they must comply with theCode of Fundraising Practice.

Treating Donors Fairly

See our guidance on fundraising with people in vulnerable circumstances

Remember A Charity podcast

If you want to dive deeper into the subject, tune in to Remember A Charity's regular podcasts on the different aspects of legacy fundraising.

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(Video) An Introduction To Legacy Fundraising

Marketing and communication

Mass communication

Charities and other fundraising organisations use a wide range of one-to-many media routes to market legacies to current and potential legators. These include radio, press, direct mail, inserts, TV, online and email.

When charities, or others acting on their behalf, undertake legacy fundraising, charities should:

  • Take great care to ensure the good taste and appropriateness of all promotional literature
  • Take similar care in the selection and use of the fundraising techniques to be employed in legacy fundraising
  • Ensure that the location and display of all promotional material (especially advertisements) are appropriate to: the nature of the cause concerned, the content of the fundraising message, and the likely circumstances and disposition of the audience/readership aimed at (for example, the accident and emergency department of a hospital shouldn’t be considered an appropriate site for promoting legacies)
  • Ensure all communications, whether printed matter or not, are clear and accessible, and in a format suitable for the audience (for example large type where appropriate)

Communicating with groups

Group activity will normally consist of an invitation to an event, dinner, reception, or tour, for example. Whether the event is solely about legacies or organised jointly with other fundraising teams, it is important for charities to be transparent about the reason for the invitation to an event, being explicit that legacies will be discussed if the issue is going to be raised. Consideration should be given to the appropriate level of financial investment in the event, including from the perspective of the audience. It is advisable for event organisers to avoid being exploitative in their ‘use’ of beneficiaries or supporters as case studies or testimonials, and to respect their dignity and privacy.

    One-to-one fundraising

    Many organisations offer the opportunity for potential legators to speak to a representative of the charity on a one-to-one basis, often at a meeting in the supporter’s home. The representative of the charity might include a staff member, trustee, volunteer or a third party agency fundraising on behalf of the charity.In this section ‘fundraiser’ refers to any such charity representative.

    Before beginning any face-to-face legacy fundraising activity, it is advisable for a charity to approve an agreed set of written procedures, clearly establishing a policy on proper practice for this activity. It is good practice for this set of procedures to be communicated to all fundraisers engaged in face-to-face legacy fundraising activities, and for fundraisers to abide by its requirements. Face-to-face meetings in a potential legator’s home to discuss legacies should only occur if that person has first had the opportunity to decline the meeting. It is advisable for meetings to always be held by prior appointment and be confirmed in writing.

    It is important that in all face-to-face fundraising, fundraisers:

    • Accept the right of the potential legator to invite a third party of their choice (such as a friend, solicitor, or family member) to be present at any stage of the face-to-face meeting(s). Fundraisers who deny individuals this right, run the risk of being accused of exerting undue influence and such denial may lead to the Will being contested
    • Remind the potential legator of the purpose of their face-to-face visit
    • Ensure the meeting is undertaken in a manner and at a length that is sensitive to, and suits the interests and concerns of, the particular potential legator and that the fundraiser’s behaviour cannot be construed as threatening
    • Accept the right of the potential legator to terminate the face-to-face meeting at any time, and to accept the termination promptly and courteously
    • Keep clear and precise records of all contact with potential legators and conclude by summarising any future action
    • Inform potential legators, once they have received a record of the meeting, that they can change any commitment made without further contact on the issue if they so wish

    Use of case studies

    Case studies of previous legators and current pledgers are an important part of supporter communications with potential legators. It is good practice for case studies to be accurate and not fictitious, and at all times the charity should respect the subject of the case study and his/her situation. It is advisable for the charity to ensure that either the individual, or in the case of the deceased, his/her family or personal representatives, approve copy and use of images. Where the real names or other elements of case studies are changed or are a composite of several case studies, this ought to be made clear and be explained within the case study.

    Ethical issues

    Close relationships can develop between a fundraiser and a potential legator. This can sometimes favour the fundraiser rather than the charity, and a legacy may be left to the individual in their personal capacity, rather than to the charity.

    It is important charities are aware of these potential dangers and have in place policies and procedures to deal with such instances.

    If a legacy is offered in a personal capacity, fundraisers must explain that, should the legator wish to give a legacy to him/her personally, then the fundraiser is obliged to disclose the gift to his/her line manager at the charity. Fundraisers shouldn’t take advantage of their employment by the charity to solicit a personal legacy. If a charity considers that a fundraiser has abused his/her position and has solicited a personal legacy, the charity should have disciplinary procedures in place for dealing with such situations.

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    If volunteers and/or staff are to be asked for legacies, it should be made clear that they are under no obligation to leave a legacy.

    Sometimes a potential legator might decide to benefit a charity in preference to his or her own family.

    If a potential legator asks the charity to explain to disinherited family members why they are being disinherited,the charity ought to decline or otherwise only explain why the charity needs the legacy.

    The charity should also ask the supporter to put in writing to the charity his/her reasons for benefiting the charity instead of his/her family. It is good practice for the charity to retain the letter on file and to recommend to the potential legator that he/she keep a copy of the letter with his/her original Will.

    Paying for Wills

    Charities and their agents may choose to use a range of incentives to promote legacy giving. It is important that charities ensure incentives and recognition devices offered to potential legators are of appropriate value, which will usually be of minimal cost.

    In relation to free and discounted Will schemes as well as requests to pay for Wills, charities should follow the Charity Commission guidelines as set out in the Charity Commission guidance ‘Paying for Wills with Charity Funds’. It is essential that fundraisers do not make it a condition that the charity is included in the Will. Fundraisers must not exert undue influence on potential legators. Fundraisers who fail to follow these guidelines run the serious risk that the Will may be contested and such actions may jeopardise all of the organisation’s legacies.

    Conditional gifts

    Sometimes potential legators want to give a legacy to a charity subject to a requirement that the legacy is used for a specific purpose. That the legacy is used for that specific purpose may be a condition of the gift and, if so, the charity must comply with it. Alternatively, the purpose may be expressed as a non-binding wish, with which the charity can choose whether or not to comply. In relation to such legacies, it is advisable for charities to:

    • Ask the potential legator to consider expressing their purpose as a wish rather than as a condition. Explain the difficulties that can arise if the charity cannot or ceases to be able to comply with a condition and that the legacy might then fail
    • Make clear that the potential legator can choose to make the legacy subject to a condition as to its use
    • Inform the potential legator if it is not possible or it is unlikely that the charity can comply with the proposed condition(s)
    • If the potential legator proposes to make the legacy subject to an expressed wish as to its use, be honest and open about whether it is likely that the charity will comply with the wish
    • If a legacy is subject to a requirement that it is used in a specific way or for a specific purpose (e.g. endowments), consider whether legal advice is needed about whether or not the specific purpose is a condition or a non-binding wish, particularly if there is any doubt

    ADMINISTERING LEGACIES AND IN-MEMORY GIFTS

    Gifts to charities following the death of supporters may be received at a time when family members and friends are grieving and those dealing with the gift, often the next of kin or a close friend, may feel particularly sensitive to how it is handled by the charity. In addition to feelings of grief, family and friends may be under some strain in managing the deceased’s estate or experience feelings of obligation to the deceased.

    Charity staff administering in memory donations or legacies act as ambassadors for their charities.

    It is good practice for staff dealing with in memory gifts to ensure that donors are thanked appropriately and that any recognition is suitable. Charity staff should communicate with family and friends of the deceased, including lay executors, with professionalism, courtesy and sensitivity. It is advisable for communication with professional executors or other professionals to be courteous and professional at all times. Where names are mentioned or case studies sought and subsequently used, permission ought to be obtained from the next of kin where possible.

    Charity staff should at all times be mindful of the need to balance the opportunity to promote on-going support with the sensitivities associated with bereavement. Charity staff administering legacies have a particular responsibility to balance legal duties and the optimisation of benefit to charity, with the maintenance of their charity’s reputation and future income stream - whether dealing with professional or ‘lay’ executors. It is important that legacy administration procedures take account of the sensitivity of their situation.

    Legal information

    It is important that charities ensure fundraisers do not provide legal advice. Legacy fundraising materials ought to make clear, where relevant, that the contents are not intended to constitute legal advice by the charity, and that potential legators are strongly advised to seek independent professional advice from their own professional advisor.

    A charity may suggest potential lawyers or professional Will-writers (see ‘Definitions’ below), but it is good practice to offer a choice of at least two without making a recommendation. Alternatively, if the potential legator does not have a lawyer or professional Will-writer, the legator could be referred to the relevant law society or the Society of Trust and Estate Practitioners. It is advisable for charities to avoid drafting or being directly involved in the drafting of Wills in favour of the charity. A fundraiser must not exert undue influence on a potential legator.

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    Witnesses to a Will under which a charity benefits ought to be independent of the charity. In particular, a representative of the charity should not be a witness. Arepresentative of the charity acting as a witness may lead to the Will being contested.

    To act as executor, if asked to do so by a potential legator, the charity and its officers must have the power to do so (which usually means that the charity must have trust corporation status or be able to appoint an individual as executor on its behalf). It is also advisable for the charity to consider, for it or its officers, whether it is appropriate to take on the role of executor, which may depend on the size of the legacy, and whether taking on the role is to be made a condition of receipt of the legacy.

    In England and Wales, whenever legacy marketing activity involves direct contact between the public and a third party agency, the charity must comply with the Charities Act 1992 provisions (as amended) on declarations by professional fundraisers. Similar regulations apply in Scotland under the Charities and Benevolent Fundraising (Scotland) Regulations 2009 (further information is available from theOffice of the Scottish Charity Regulator).

    Definitions

    Types of legacies

    Bequest or legacy

    A gift in a Will to a person or organisation. There are different types of bequests.

    Residuary legacy

    A gift of the residue (or a share of the residue) of the estate. Residue is whatever is left after all debts, funeral expenses, certain other costs and tax and any other legacies have been deducted.

    Pecuniary legacy

    A gift of a fixed sum of money. The value of a pecuniary gift will decrease over time, as the cost of living increase.

    Specific legacy

    A gift of a particular named item – for example, a piece of jewellery, furniture, a painting, buildings, land, house contents, chattels, shares, etc.

    Contingent legacy

    A gift that is dependent upon the occurrence of an event which may or may not happen. For example, a gift to a charity which applies only if other beneficiaries named in a Will die before the individual dies.

    Life interest / reversionary bequest

    A right to enjoy property, or the proceeds of investment of property, until death or in the case of some reversionary interests, some other event. The beneficiary of a life interest is known as the ‘life tenant’. The interest will cease on death of the life tenant.

    Gift in remainder / remainder, interest in

    An interest/gift in property that comes into effect after a prior interest in the property has ended e.g. in a property subject to a life interest. A beneficiary of a gift/interest in remainder is known as a ‘remainderman’.

    Legalities

    Codicil

    A document which amends (e.g. alters or adds to) a Will. It must be drawn up and executed in the same way as a Will in order to be valid.

    Executor(s)

    The persons appointed by an individual in his/her Will who are responsible for administering the deceased person’s estate. Personal representatives include executors.

    Legally qualified

    Someone who holds a qualification recognised by the Law Society of England and Wales, the Law Society of Scotland, the Law Society of Northern Ireland, the Bar Council of England and Wales or Northern Ireland, the Faculty of Advocates in Scotland or the Institute of Legal Executives.

    Legatee

    The beneficiary of a legacy.

    Legator

    Someone who has died leaving a legacy to a charity. A 'potential legator' is someone who may include a gift to charity in his or her Will.

    Professional Will-writer

    For the purposes of this guidance, a professional Will-writer is an individual that meets the following standards:

    • Can provide proof that she/he has passed an examination in the subject of Wills with a recognised legal training provider. Recognised legal training providers include: law colleges and training institutes accredited by the Law Society of England and Wales, the Institute of Legal Executives, Central Law Training, STEP and the Institute of Professional Will writers. This listing should not be taken as being exhaustive
    • Has professional indemnity insurance (minimum cover £2m)
    • Undergoes mandatory continuing professional development (minimum 20 hours a year)
    • Offers the ability for clients to gain redress from a recognised body in default of the individual, the body holding adequate funds for this purpose
    • Holds membership of a professional body which has a mandatory Code of Conduct and can regulate; sanctions must include expulsion from membership

    Testator/testatrix

    Someone who has made a Will.

    Will

    Either a Will or a codicil. In order to be valid, a will/codicil must be drawn up and executed in accordance with certain formalities. Both can include a legacy to charity.

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    Fundraising

    Pledge

    A promise or statement that an individual intends to include a legacy in their Will or has already done so. It is not a binding contract.

    Pledger

    The term 'pledger' is used to denote someone who has informed the charity that they have included, or plan to include, a legacy to that charity in their Will.

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    Members Only Content

    FAQs

    What are legacies in a charity? ›

    WHAT ARE CHARITABLE LEGACIES? A charitable legacy is a gift that someone leaves to a charitable organisation in their Will. They're one of the most effective ways to help donors make a lasting difference to your cause.

    What is a legacy fundraiser? ›

    Legacy fundraising is the practice of asking individuals to leave a gift to a charity in their Will. Legacies can be a sensitive issue for individuals and their families.

    How do individuals make legacy gifts to charity? ›

    Legacy gifts are most often made through wills and trusts, by denoting the organisation that should receive the gift. Some people also use certain financial instruments, such as pooled income funds and annuities.

    What is legacy income for charities? ›

    Legacy income can be a vital source of income for charities. As well as providing charities with funds that enable them to achieve their aims, leaving a legacy donation to a charity can be a heart-warming way of saying thank you to a charity that may have helped you or means a lot to you.

    Can a charity refuse a legacy? ›

    The charity disclaiming an inheritance need only to refuse the inheritance before any benefit is received. This can be done in writing, by deed or by conduct. It is important the refusal is made before any benefit is received as it is not possible to partly disclaim.

    What are legacy gifts? ›

    Legacy giving refers to donations that supporters plan to give to your nonprofit after their passing. Legacy giving is also commonly referred to as planned giving as donors often plan these gifts years before they are distributed to the designated parties.

    How do you ask for a legacy gift? ›

    10 tips on how to talk to donors about planned giving
    1. Don't mention death. ...
    2. Provide resources to create a will. ...
    3. Mention the benefits of planned giving. ...
    4. Frame bequests as a tribute to a family member. ...
    5. Emphasize the long-term impact of planned gifts. ...
    6. Use social proof. ...
    7. Include planned gifts as one of several ways to give.
    9 Jun 2020

    Are donations to legacy tax deductible? ›

    All donations to NSW Police Legacy over $2 are tax deductible. If you are a serving officer, updating your contribution by just $5 per pay (or more) ensures that we can continue to care for the Police Family.

    How do I start a legacy campaign? ›

    How to Start Legacy Campaign Story Explained Tutorial - YouTube

    Why do people leave legacy gifts? ›

    A legacy is a donation to charity that is left in your Will. It's also known as a bequest or gift. When someone leaves a legacy in their Will, it's a very special gift for the receiving charity because it can help fund important long-term projects that will make a deep and meaningful impact on many people's lives.

    What are the three types of planned giving? ›

    The 3 Types of Planned Giving
    • Current Gifts. Current gifts are those given and received now. ...
    • Deferred Gifts. Deferred gifts are decided upon or given now but received by your organization at some time in the future, often at the end of the donor's (and the donor's spouse's) lifetime. ...
    • Split Interest Gifts.

    Can legacies be gift aided? ›

    As Gift Aid is restricted to gifts from income, not capital, a legacy gift does not therefore qualify. For a more detailed guide to Income Tax and Legacies, please contact us via the Legacy Link website.

    What does legacy income mean? ›

    Related Definitions

    Legacy Revenue means the moneys, shares, warrants, options and any other assets that are of monetary value transferred to the Legacy Fund pursuant to Article 4 of this Policy.

    Can you avoid Inheritance Tax by giving to charity? ›

    Your will says what will happen to your money, property and possessions after you die. Your donation will either: be taken off the value of your estate before Inheritance Tax is calculated. reduce your Inheritance Tax rate, if 10% or more of your estate is left to charity.

    Is money left to charity exempt from Inheritance Tax? ›

    Although not always considered part of estate planning, such gifts can reduce the inheritance tax (IHT) rate on death from 40% to 36% if used in the correct way. Gifts to qualifying charities are themselves exempt from IHT regardless of the value of the gift.

    Can donors ask for their money back? ›

    There are several reasons donors commonly ask for their gifts back. For example, a donor may simply have a change of heart. Or the donor may believe your charitable organization is misusing or “wasting” donated funds or that it's no longer fulfilling its charitable mission.

    Is gift of legacy a pyramid scheme? ›

    Pyramid schemes and scams

    Gift of Legacy is a gifting scheme being run out of South Africa. Heading up promotion of the scam are Chris Hattingh and Candice Donadel. The Bank of Russia's warning cites the domain “giftoflegacy(dot)ru”. The domain was used as a landing page targeting Russian speakers.

    How does a legacy donation work? ›

    Legacy giving is when you leave a gift to a charity or organization as part of your estate plans. Legacy gifts are distributed after you pass away and can be made up of a specific dollar amount, a percentage of your assets, or an item of value.

    How do people leave legacies? ›

    What does it mean to leave a legacy? Benjamin Franklin put it this way: “If you would not be forgotten as soon as you are dead, either write something worth reading or do something worth writing.” Leaving a legacy through your work means doing something worth writing about – and changing the world.

    What is the difference between a bequest and a legacy? ›

    a bequest is a gift of personal property made by a will other than land, such as an item of jewellery or a car. a devise is a gift by will of real property, such as a house. a legacy also refers to gifts of personal property but is more widely used to cover all types of gifts, including property, personal items and ...

    How do you thank a legacy donor? ›

    Thank you very much for letting us know about your intention to leave a bequest to _____________________ [name of organization] in your estate plan. We are very grateful to you for your generosity. _____________________ [name of organization]'s future depends upon the continued generosity of friends such as you.

    What are planned gifts in fundraising? ›

    Planned giving is also referred to as gift planning or legacy giving. In a nutshell, it is a donor's intention to contribute a major gift to an organization, beyond their lifetime. So, unlike an annual gift (an outright gift made for current use), a planned gift is for the future.

    How much can you claim on donations without receipts 2022? ›

    To claim contributions of more than $10, you need a receipt.

    Is there a limit on charitable donations for 2022? ›

    2022 tax environment

    For 2022 taxes, single filers may claim a $12,950 standard deduction, while married couples filing jointly can claim a $25,900 standard deduction.

    What donations are 100 tax deductible? ›

    Donations which are eligible for 100% Deduction without any qualifying limit
    • Prime Minister's National Relief Fund.
    • National Sports Fund.
    • Chief Minister's Relief Fund or Lieutenant Governor's Relief Fund with respect to any State or Union Territory.
    • An approved university/educational institution of National eminence.

    How do you promote legacy giving? ›

    Consider 7 ways to encourage legacy gifts:
    1. Include legacy giving in your communications strategy. ...
    2. Educate donors about the importance of planning their estates. ...
    3. Provide options for legacy giving. ...
    4. Communicate the tax benefits of legacy giving. ...
    5. Honor any wishes legacy donors choose to place on their gifts.
    1 Apr 2020

    What Is Legacy Campaign? ›

    Campaigns created under the old Campaign Manager experience will now be known as legacy campaigns. Activate to view larger image. The experience is optimized to generate better results. We recommend you use the new objectives to create your ad campaigns, rather than duplicating or reactivating old legacy campaigns.

    What is a legacy proposition? ›

    To define your charity's unique legacy proposition, you need to consider the following things: What are your charity's ambitions in 30 years' time? Are they tangible enough to make prospects feel they can touch the difference they will make through a legacy? Are they credible enough to invest in?

    Can I leave my house to a charity? ›

    Generally speaking, there are two ways to leave money to charity in your will. The first option is to very simply, specify any charities you wish to benefit from your will. Alternatively, you can leave money or property in a trust and leave it up to your trustees to decide.

    Why leave a gift in your will? ›

    Why gifts in wills are important. Without gifts in wills the National Trust wouldn't be able to protect and look after all the places in our care. Any legacy, no matter how large or small, makes a lasting difference, and if you like, you can choose to leave your gift to the place that matters most to you.

    What does being left a legacy mean? ›

    Leaving behind a legacy means making an impact that will last long after you die. It could be financial, with something you create, or through the people you touch while you're alive. The good news is, it's never too late to start working on building a legacy that will outlive you.

    What is the most common type of planned gift? ›

    BEQUESTS. A Bequest is a gift made through a will or a living trust. It's the most popular planned gift; the easiest to make; and costs nothing during a donor's lifetime.

    What is an irrevocable planned gift? ›

    A common belief in many gift planning programs today is that the majority of planned gifts should be irrevocable; in other words, gifts that the donor would be unable to change or terminate once they are established.

    What percentage of planned gifts are bequests? ›

    Bequests. 90% of planned gifts take the form of bequests; legacy gifts left to a nonprofit after a donor has passed away, for which the donation process is relatively straightforward. A donor can make a charitable bequest via a trust, will, or estate plan.

    Who is eligible for Gift Aid? ›

    Gift Aid is a scheme available to charities and Community Amateur Sports Clubs (CASCs). It means they can claim extra money from HMRC. The charity or CASC can claim an extra 25p for every £1 you donate. That's as long as you've paid the basic rate of tax and make the donation from your own funds.

    How far back can I claim Gift Aid? ›

    Your deadline to claim Gift Aid depends on how your charity is set up. You need to claim for a donation within 4 years of the end of the financial period you received it in. This is: the tax year (6 April to 5 April) if you're a trust.

    How do I receive Gift Aid donations? ›

    You need to make a Gift Aid declaration for the charity to claim. You usually do this by filling in a form - contact the charity if you have not got one. You must give a declaration to each charity you want to donate to through Gift Aid. You can include all donations from the last 4 years.

    Are legacies assets? ›

    The term "legacy asset" has been coined to refer to an asset that is outdated or obsolete. A legacy asset is an asset that has been on the company's books for a long period of time and has generally decreased in value, likely due to obsolescence, to the point where it is now a loss for the company.

    How do you promote legacy giving? ›

    Consider 7 ways to encourage legacy gifts:
    1. Include legacy giving in your communications strategy. ...
    2. Educate donors about the importance of planning their estates. ...
    3. Provide options for legacy giving. ...
    4. Communicate the tax benefits of legacy giving. ...
    5. Honor any wishes legacy donors choose to place on their gifts.
    1 Apr 2020

    What does legacy income mean? ›

    Related Definitions

    Legacy Revenue means the moneys, shares, warrants, options and any other assets that are of monetary value transferred to the Legacy Fund pursuant to Article 4 of this Policy.

    Can legacies be gift aided? ›

    As Gift Aid is restricted to gifts from income, not capital, a legacy gift does not therefore qualify. For a more detailed guide to Income Tax and Legacies, please contact us via the Legacy Link website.

    What is Remember A Charity Week? ›

    Learn more in our 2021 - 2022 Impact Report. This week (5-11th September) is Remember A Charity Week, which brings together 200 charities that rely on gifts in wills. For CPAG, such gifts mean we can continue our work to end child poverty once and for all.

    How do I start a legacy campaign? ›

    How to Start Legacy Campaign Story Explained Tutorial - YouTube

    How do you ask for legacy gifts? ›

    10 tips on how to talk to donors about planned giving
    1. Don't mention death. ...
    2. Provide resources to create a will. ...
    3. Mention the benefits of planned giving. ...
    4. Frame bequests as a tribute to a family member. ...
    5. Emphasize the long-term impact of planned gifts. ...
    6. Use social proof. ...
    7. Include planned gifts as one of several ways to give.
    9 Jun 2020

    Are donations to legacy tax deductible? ›

    All donations to NSW Police Legacy over $2 are tax deductible. If you are a serving officer, updating your contribution by just $5 per pay (or more) ensures that we can continue to care for the Police Family.

    Are legacies assets? ›

    The term "legacy asset" has been coined to refer to an asset that is outdated or obsolete. A legacy asset is an asset that has been on the company's books for a long period of time and has generally decreased in value, likely due to obsolescence, to the point where it is now a loss for the company.

    Can you avoid Inheritance Tax by giving to charity? ›

    Your will says what will happen to your money, property and possessions after you die. Your donation will either: be taken off the value of your estate before Inheritance Tax is calculated. reduce your Inheritance Tax rate, if 10% or more of your estate is left to charity.

    Do you pay Inheritance Tax on money left to charity? ›

    Gifts to qualifying charities are themselves exempt from IHT regardless of the value of the gift. However, if a gift to charity in a will meets certain conditions, the lower rate of 36% IHT can apply to the taxable part of an individual's estate.

    How does charity donation affect Inheritance Tax? ›

    To encourage charitable giving on death, the rate of inheritance tax is reduced by 10% — from 40% to 36% — where at least 10% of the net estate is left to charity.

    What is Legacy Week? ›

    Legacy Week has been running since the 1940s and is a time for Australians to show their support for the widows and children whose loved ones have served our country.

    What do Smee and Ford do? ›

    Smee & Ford is the UK's leading provider of trusted legacy giving information. We have been working with charities to help them to understand and grow their legacy income for over 125 years. Our mission is to support charities through legacy insight.

    Videos

    1. IoF Ask the Expert - Legacy Fundraising
    (Chartered Institute of Fundraising)
    2. Will legacy fundraising be as big in the future?
    (Chartered Institute of Fundraising)
    3. Fundraising Essentials - Building a Case for Support
    (Chartered Institute of Fundraising)
    4. Developing a Fundraising Strategy
    (Chartered Institute of Fundraising)
    5. IoF Ask the Expert - Legacy Fundraising
    (Chartered Institute of Fundraising)
    6. Introduction To Fundraising Techniques
    (Chartered Institute of Fundraising)

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