Leaving a legacy
By leaving a gift in your will, you can support Musequality’s work in the future. After If you have already made a will, but would like to leave a gift to Musequality, you can do so by making a simple addition to your existing will – a codicil. If you do not have a will at the moment you may need to see a solicitor. You will have to pay a fee, but you will receive sound professional advice and the assurance that your wishes will be carried out.
Two ways to give to Musequality in your will:
You can choose to give a fixed amount of money
You can choose to leave a share, or the whole, of what is left of your estate once you have provided for your loved ones.
Tell your solicitor which is the most suitable option for you. The correct wording for each type of legacy is shown below.
For a pecuniary legacy
‘I give free of inheritance tax £X to Musequality of 45 Priory Avenue, London W4 1TZ, Registered Charity No. 1119308, [for its general charitable purposes] [and I declare that the receipt of the treasurer or other proper officer for the time being shall be a sufficient discharge to my executors].’
For a residuary legacy,
‘My trustees shall hold my/x share(s) of my residuary estate and the income thereof for Musequality of 45 Priory Avenue, London W4 1TZ, Registered Charity No. 1119308, absolutely [for its general charitable purposes] [and I declare that the receipt of the treasurer or other proper officer for the time being shall be a sufficient discharge to my executors].’
Will the legacy be taxed?
No. A gift to a registered charity such as Musequality will be deducted from your estate before inheritance tax is calculated. So if your estate is liable to inheritance tax, a gift to Musequality would effectively reduce the tax to be paid.