Legacies & Trusts
It will cost you nothing in your lifetime, but whether you make a gift of £100 or £100,000 it can make a huge difference to sustaining Tŷ Elis. Running a small charity is a constant battle in finding income to keep us going from year to year. Many large national charities have millions of pounds in reserves due to legacies – we have a few thousand pounds. If just a small amount of this money was to come to Tŷ Elis, it would make an enormous difference.
Legacies
Making a Will, or a codicil to your existing Will is how you can give a legacy to Tŷ Elis. We strongly advise that you do not attempt a “do it yourself” Will. A “home-made” Will can often lead to trouble as it may be ruled invalid by the courts if it fails to meet all the legal requirements.
There are three types of legacy:
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Residuary Gift |
Is the gift of all (or part) of the value of your estate after debts, liabilities and other legacies have been paid and is the most valuable kind of legacy to Tŷ Elis. |
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Pecuniary Gift |
Is the gift of a particular sum of money. |
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Specific |
Is the gift of a specified item that could be, for example, a property, a painting or a piece of jewellery. |
Trusts
In England and Wales, charitable trusts are a form of express trust dedicated to charitable goals. Tŷ Elis regularly makes application to such trust. They are normally set up by wealthy individuals or families to promote particular charitable causes. If you are thinking of setting up a trust you will need to talk to your solicitor. The Charities Commission is also a good place to start.