Leaving a Legacy

When it comes to making a Will, more and more people want their estate to help family and friends and also make a difference to their local community or those less fortunate than themselves.

Keeping it local

Having decided to leave a gift in your Will, the most difficult question is often, which charity to choose. Foundation Derbyshire provides a simple solution, as we fund local community groups on behalf of individuals and companies in your county. We make sure that your gift stays local and is used to support issues and areas that you care about.

Your Legacy to your Community

Wouldn’t you like to know that your gift will be making a difference, not just once, but forever, with new grants made every year to meet the changing needs of future generations?

A gift in your will to Foundation Derbyshire, of whatever size, is a great way of supporting your local community forever, as your gift is invested and the income generated is then used to make grants to support local people year after year.

Tax Effective

Such gifts are also tax free, so if your estate is liable to Inheritance Tax, you could reduce the amount your beneficiaries have to pay, by choosing to give money to charity.

There are various ways of leaving a legacy as part of an estate. For example:

  • A Pecuniary Legacy – is a fixed amount specified in a Will. It is free of tax, which adds considerably to the value of the gift.
  • A Residuary Legacy – is the remaining value of an estate when all other bequests to family and friends have been made.
  • A Reversionary Legacy – allows the surviving partner to benefit from the estate during his or her lifetime and then for the balance of the estate to be passed to the Community Foundation.

Honouring your wishes for your community

With a legacy gift of £10,000 or more you can set up a Named Fund and work with us to decide how you wish the proceeds from your Fund to support the local community beyond your own lifetime.

For example, your fund could be used to support the area where you live, a local group or charity that you have been involved with or a particular cause you care about. Or you could leave it up to our Trustees to use the income to meet the ever changing needs in the community. Alternatively you can choose to support our General Endowment Fund which provides grants to community and voluntary groups across Derbyshire.

We never forget that each fund is different and we prefer to set the criteria for your fund in consultation with you and your advisors. For more information or to receive our legacy pack “Your legacy to your Community”, please phone 01773 525861 or email¬†rachael@foundationderbyshire.org.