Leaving a legacy is a great tax-effective way of ensuring that your estate goes to those you choose, and is a highly invaluable way of supporting a charity. It costs nothing to you during your life time. If you don't make one, part or all of your estate may go to people whom you never intended to benefit. Not only that, Inheritance Tax Legislation means that, if you don't prepare properly, a substantial part of what you leave behind may go the State.
The current level of Inheritance Tax threshold is £325,000, which means that if a person’s estate (their property, money and possessions) is worth more than £325,000 after they die, 40% inheritance tax on anything above the threshold is due to the State. The rate may be reduced to 36% if more than 10% of the estate is left to charity.
For further details on the current tax threshold, please visit here.
If you would like to pledge a legacy, please click here for a Legacy Form.
Every penny of your legacy goes to your chosen area, and can memorialise your name or that of a loved one in perpetuity. You could donate your gift to Moor House School and College, and allow Moor House’s leadership decide how best to spend the money on strategic priorities and innovative projects.
1 Residuary bequests
A gift of the remainder of the estate after all other bequests have been made and debts cleared is called a residuary bequest. The value of residuary bequests does not depreciate over time.
2 Pecuniary bequest
A gift of a fixed and specified sum of money in your Will is called a pecuniary bequest. The value of pecuniary legacies will decrease over time, as the cost of living increases.