Legacies

Legacies are gifts to charities made by Will. A legacy to charity is exempt from UK Inheritance Tax. LCVS offers a legacy distribution service, which ensures that the donations reach the chosen charities.

A legacy donation can be made with cash, shares, property, or the residue of your Estate. Shares or property would be sold to provide cash to distribute to nominated charities. A Charity Cheques Account will be opened to receive the legacy funds. This is a segregated account holding the details of all receipts and payments associated with the legacy.

You can also leave a legacy of cash, shares or property to establish or add to the value of a Personal Charitable Trust. This would allow you to provide long-term support to your favourite charities after your death.

The benefits of choosing LCVS legacy distribution service:

1. Simplicity
Simply name Liverpool Charity and Voluntary Services as the benefiting charity in your Will. We can help you draft the clause. Your instructions to LCVS can be changed at any time without incurring legal fees.

Provide LCVS with a list of charities you wish to benefit from your legacy. The list will be checked to ensure that all are registered charities or charitable organisations, able to receive your donation. Alternatively, you can give LCVS instructions regarding the areas of charity work you would like to support, and our Grants Committee will assist by suggesting or choosing the beneficiaries.

2. Security
If you named in your Will specific charities that had ceased to operate or had changed their name, the gift would not be able to be made as a charitable donation and the amount of the gift would have to be returned and added to the value of your Estate. LCVS can ensure that your legacy reaches the causes that you want to support, avoiding unforeseen costs to your Estate.

Charity Cheques - helping individuals to give to charity