London hospice received £250,000 legacy
I read a heartwarming article recently, about how a London hospice received a £250,000 legacy from a gentleman, by way of thanks for the care he received at the end of his life.
Sometimes I think we become hardened to the subject of charitable legacies. We're bombarded with marketing literature, TV advertising and doorstep salespeople, all trying to encourage us to leave a legacy to a particular charity. Of course, there's an additional incentive to do so – provided by the government who has allowed us to use legacies as a means of reducing inheritance tax liability. But rarely do we take the time to understand precisely what that cash injection can do for a charity.
In this instance, Mr Eric Rawson, who died in November 2012 aged 89, left £250,000 in his will to St Luke's Hospice in Kenton.
In March last year, five months after his death, the hospice was presented with the cheque and expressed its delight and gratitude to Mr Rawson.
The hospice's director of fund raising stated that this money will fund an impressive 40% of its Home Care teams, who looked after Mr Rawson in his own home.
Interestingly,the deceased's executor also revealed that by leaving this charitable legacy, Mr Rawson's estate saved almost £200,000 in inheritance tax charges.
What a very fitting and wonderful end to this generous gentleman's life.
Have you thought about leaving a charitable donation as part of your estate planning process? Contact the team at IWC Ltd who will be able to discuss your individual circumstances and highlight the benefits of charitable legacies in more detail.
A government trial has revealed that the percentage of those leaving money to charity in their will, depends on the approach taken by the will writer.
In the trial, 3000 prospective customers were separated into three groups in order to have their will drafted.
In group one, the will writer simply asked if they wanted to donate money to charity in their will. 10.8 percent agreed.
With group two, the will writer emphasised that many people leave charitable donations in their will and asked if there were any particular causes or charities which would interest the person. 15.4 percent agreed.
Charitable donations were not mentioned at all to anyone in group three and as a result, only 4.9 percent asked to leave a charitable legacy.
It was also noted that individuals in group two left a donation of around £6,661 on average, whilst those who agreed in group three left around £3000.
It seems therefore that the will writer has a large part to play in the success of charitable legacies. This is supported by an earlier study which indicated that 35 percent of respondents wanted to leave money to charity in their will but only 7 percent actually did so.