Tell us about your gift
If you decide to make a legacy donation in your will to The Drinks Trust, or if you have already remembered us in your will, we would be grateful if you would indicate your intentions by informing us.
Being aware of forthcoming gifts and donations is vital to the charity and allows for the planning of future projects.
Types of Legacies
When considering a legacy gift in the UK, there are four main types of bequests, some of which may be more appropriate to your financial or personal circumstances. You can find out more below.
This is a gift of a percentage, or the whole, of an estate following the distribution of specific gifts and payment of any debts and expenses.
This is a gift of an item, such as historical books or documents. When considering a specific bequest, it is advisable to speak to the charity to make sure that the charity will be a suitable home for the object.
As a registered charity in the UK, any bequest left to The Drinks Trust (be they residuary, pecuniary, or reversionary) will not be subject to inheritance tax. You may therefore be able to reduce the taxable value of your assets by remembering The Drinks Trust in your will.
- Inheritance tax is a tax on the estate (property, money and possessions) of someone who has died
- If the value of your estate is below the £325,000 threshold (if single) or £650,000 (if you are married or civil partners) then there is no inheritance tax to pay
- If you leave at least 10% of your net estate to charity, then you can cut the net rate of inheritance tax on your estate from 40% to 36%.
The Drinks Trust recommends that you draft your will in consultation with a qualified solicitor. The following wording is only a guide.
For Residuary Legacies
I give ……………………. % of my Residuary Estate to The Drinks Trust of Unit 4, Baden Place, London, SE1 1YW (Registered Charity Number 1023376) absolutely and I express the wish, but without imposing any binding trust or obligation, that this be used in/applied towards…
For Pecuniary or Specific Legacies
I give a pecuniary / specific legacy free of all tax of £X to The Drinks Trust of Unit 4, Baden Place, London, SE1 1YW (Registered Charity Number 1023376) and I express the wish, but without imposing any binding trust or obligation, that this be used in/applied towards…
Reversionary legacies should always be drafted in consultation with a solicitor.