If you care about Somerset, you may be thinking of leaving a gift in your will to support good causes in the county. It’s a great way to make a lasting difference in your community. However, knowing which charities and groups need your support can be difficult.
This is where Somerset Community Foundation could help you in a simple and efficient way, ensuring your legacy helps those you care most about for many years to come. Your legacy will always be used wisely and never put at risk.
For example, you could decide to create your own Named Fund to support causes that mean the most to you. If you wish, this option allows your family or close friends to have an input on how the funds are distributed too.
Alternatively you may choose to ask the Foundation to allocate your gift to one of our theme-based funds, to a particular geographical area in the county or simply to support the Foundation with an unrestricted gift.
If you would like to discuss your ideas, in confidence, please contact Justin Sargent on firstname.lastname@example.org or Mary Hancock on email@example.com. You're also welcome to call us in the office for a friendly chat on 01749 344949. Although we always recommend that you seek professional advice from a solicitor before writing or amending your will.
A note about Inheritance Tax
Charitable gifts are exempt from inheritance tax and could help reduce the total amount of tax paid on your estate. Anyone leaving at least 10% of their estate in their will to charity benefits from an effective reduction in inheritance tax from 40% to 36%.
Our staff can help you set up a Memorial Fund, in commemoration of a loved one, providing family and friends with a personal focus for special memories, which is both tax-efficient and easy to administer. This type of fund can be set up quickly, in just a matter of days, and you can raise funds and collect donations for depositing and holding in the fund.