Leaving a legacy

Why your legacy is important
Each year, ordinary supporters of charities make an extraordinary difference to their favourite causes by leaving a gift in their will. These gifts, known as legacies, are an increasingly vital source of funds for charities such as Venice in Peril.

A common misconception is that a legacy has to be an enormous sum of money. This is not the case. Any gift left in a Will, no matter how large or how small, is important to the charities you support.

Through a legacy you can make a direct and lasting contribution to Venice in Peril. Whatever you give, you can make a difference.

Making your Will
Including Venice in Peril in a will is a straightforward, easy and cost-effective way to support our work. Simply include Venice in Peril in your Will when it is first drawn up or if you want to add Venice in Peril to an existing Will, your solicitor simply attaches a written instruction, called a codicil. This must be done by your solicitor, don’t make changes yourself as you may inadvertently invalidate your Will. The codicil will need the signature of two independent witnesses

Your legacy can be in the form of a set sum of money, financial assets such as shares, or in property and valuables. Currently all gifts to a charity, such as Venice in Peril are free from Inheritance and Capital Gains Taxes, so the full value of your gift will go to help the work of Venice in Peril.

There are several standard types of legacy:

• A Pecuniary (Specific) Legacy allows you to give a specific sum of money.
• A Residuary Legacy involves leaving all or part of the residue of your estate after pecuniary legacies and other liabilities have been met.
• A Reversionary Legacy involves leaving your assets to trustees so that family members or other beneficiaries can enjoy the income during their lifetimes, with all or a portion of the capital going to Venice in Peril after their deaths.
• A Conditional Legacy provides for the eventuality that, if none of your dependants survive you, your estate will go to one or more named beneficiaries, including Venice in Peril.

Legacy Pledge Form

If you have included, or intend to include, Venice in Peril in your Will it would be helpful if you let us know as it improves the future security of the Fund. Please note that this form is in no way legally binding.

Download the Legacy Pledge form here

 

Legacy Clause Wording for England and Wales

The following specimen legacy clauses may be helpful when drawing up your will:

1. I give the sum of £________[pounds] free of tax to Venice in Peril (registered charity number 262146) of Unit 4, Hurlingham Studios, Ranelagh Gardens, London SW6 3PA.
2. I direct that the receipt of the Treasurer for the time being or other duly authorised officer shall be a sufficient discharge for my Executors/Trustees.

Residuary legacy

1. I give the whole of my real and personal property not hereby or by any codicil hereto specifically disposed of after payment of my debts pecuniary legacies funeral and administration expenses and any taxes in respect of estate to Venice in Peril (registered charity number 262146) of Unit 4, Hurlingham Studios, Ranelagh Gardens, London SW6 3PA.
2. I direct that the receipt of the Treasurer for the time being or other duly authorised officer shall be a sufficient discharge for my Executors/Trustees.

Specific legacy

1. I give my [short description of property given] free of all inheritance tax to Venice in Peril (registered charity number 262146) of Unit 4, Hurlingham Studios, Ranelagh Gardens, London SW6 3PA.
2. I direct that the receipt of the Treasurer for the time being or other duly authorised officer shall be a sufficient discharge for my Executors/Trustees
   

Legacy Clause Wording for Scotland

I direct my Executors/Trustees to pay to to Venice in Peril (registered charity number 262146) of Unit 4, Hurlingham Studios, Ranelagh Gardens, London SW6 3PA the sum of £_____ pounds free of inheritance tax and other fiscal impositions for its general charitable purposes absolutely (to be paid within _____ months of my death and in priority to all other legacies given by this Will or codicils hereto) (as soon as convenient after my death but without interest thereon) and I direct that the receipt of the Treasurer for the time being or other duly authorised officer shall be a sufficient discharge for my Executors/Trustees.

Residuary legacy

I direct my Executors/Trustees to pay and make over a _____ share of the residue of my estate to Venice in Peril (registered charity number 262146) of Unit 4, Hurlingham Studios, Ranelagh Gardens, London SW6 3PA for its general charitable purposes absolutely and I direct that the receipt of the Treasurer for the time being or other duly authorised officer shall be a sufficient discharge for my Executors/Trustees.

Specific legacy of an item (or items) of value

I direct my Executors/Trustees to pay and make over my (short description of the property given) _____ to Venice in Peril (registered charity number 262146) of Unit 4, Hurlingham Studios, Ranelagh Gardens, London SW6 3PA for its general charitable purposes absolutely and I direct that the receipt of the Treasurer for the time being or other duly authorised officer shall be a sufficient discharge for my Executors/Trustees.