Leaving a Legacy
Why leave a gift in your will?
Having a will in place gives you the peace of mind that the people and causes you care about are provided for after you are gone. Without a will, your estate is distributed according to the laws of intestacy.
After taking care of your loved ones, many people opt to leave something in their will to a charity or charities of their choice. It allows you to ensure the causes close to your heart benefit from your estate, which creates a fitting legacy as well as passing on the tax advantages to the charity.
Leaving a gift to Edinburgh Leisure will help protect the health, wellbeing and quality of life of local people through our Active Communities programme. Each year, it uses physical activity to make a positive difference to the lives of over 10,000 people affected by health conditions, disabilities, inequality and poverty.
What types of gifts can I have?
A residuary gift is a percentage of your estate once any taxes and costs have been subtracted.
A pecuniary gift is a set amount of money.
A specific gift is a particular item e.g., stocks and shares or an item that is of particular value to you.
How can leaving a legacy help you and your loved ones?
The current inheritance tax threshold is £325,000 and the rate of tax is a substantial 40%. This means that for every £1,000 over the threshold, inheritance tax of £400 is payable to the Government instead of benefitting your loved ones or the charitable causes close to your heart.
However, as legacies left to charities are exempt from this tax, leaving a gift to Edinburgh Leisure in your will can help you minimise any inheritance tax liability. Also, if you leave 10% or more of your estate to a charity, you’ll be taxed at a lower rate (36% rather than 40%) on any part of your estate that qualifies for inheritance tax.
Including Edinburgh Leisure’s Active Communities programme in your will is easy.
- Speak to your Solicitor to make or amend your will
- Remember to include our full name, address and charity number in your bequest:
Edinburgh Leisure’s Active Communities programme
Meadowbank Sports Centre, London Road, Edinburgh, EH7 6AE
- Leaving a gift in your will is very personal and we understand that you may not want to tell us. However, you are welcome to email email@example.com if you would like to discuss your gift and the lasting impact it could make with one of our team.