How you can make a Lasting Gift to our Church
A legacy is a practical way of thanking God for blessings during our lives
Why make a Will?
We are often reminded to make a will. Each year many die without making a will. Making a will and updating it regularly is the only way of being sure that your wishes are carried out after death. It can also help reduce stress for those left behind. For over 500 years since publication of the Book of Common Prayer the Church of England has encouraged members to have wills. It is part of our stewardship. Leaving gifts in a will is a final opportunity to make a lasting gift to God, to give more than you can in your life and to make a lasting difference to Church and community.
Why not consider a gift in your Will to St Mary of Bethany?
St Mary of Bethany Church has long been blessed as the beneficiary of legacies received from former members of its congregation. Recent legacies have supported various projects including the kitchen refurbishment and the audio-visual project, as well as providing the worship area armchairs, the lectern and the dais prayer stool, amongst others.
Gifts made to the church (and other charities), are exempt from Inheritance tax. Additionally, if charitable legacies in a will total 10% or more of the net estate, under current legislation the Inheritance Tax rate is reduced from 40% to 36%.
How to leave a Legacy
It is recommended that a will be drawn up professionally to avoid problems in Probate and, for some, to reduce Inheritance Tax liabilities. Before meeting the solicitor make an estimate of your assets and how you want to distribute them. For most people family comes first (and rightly so - see 1 Timothy 5.8), however, you may also want to leave legacies to a number of charities, including St Mary of Bethany. Specifying a purpose for a legacy in your will can be problematic if it has already been fulfilled by the time the church receives the legacy. One option can be to have a letter of wishes alongside the will perhaps expressing the general area that you would like your legacy to support.