Creating your Will is one of the most personal and meaningful decisions you will ever make. Not only is it a reflection of your responsibility towards your loved ones, but also of your values, passions, and the legacy you want to leave behind. Your Will offers an  opportunity to make a lasting impact, to support the people and causes that have mattered to you throughout your life.

For supporters of RSGS, this means helping to ensure that future generations are inspired and empowered to explore, understand, and protect our shared planet. 

Leaving a gift in your Will is one of the most effective ways that you can support a charity. And for a small organisation like RSGS, such gifts can be transformational, enabling us to do more, extend our reach, and make a big difference. However, on top of their emotional and practical value, legacy gifts can also offer notable tax benefits.

In the UK, when someone passes away, their estate (everything they own) may be subject to Inheritance Tax. The standard rate of Inheritance Tax is 40% and applies to estates that are worth over a certain threshold- currently £325,000 for individuals (or £650,000 for a couple). However, any money or assets left to a UK-registered charity, like RSGS, are completely exempt from this tax. That means your gift will be passed on in full, directly to a cause you care about.

Even more compelling is what’s known as the ‘10% rule’. If you leave at least 10% of your net estate to charity, the Inheritance Tax rate on the entirety of your estate drops from 40% to 36%. So not only does your chosen charity benefit, but your other beneficiaries, such as family and friends, may receive more than they would have otherwise, due to the reduced tax rate.

It is also possible to donate through lifetime giving, in which you can choose to donate or to leave specific assets to charity, such as shares, property, or valuable items. In some cases, this can help avoid Capital Gains Tax that might otherwise apply if those assets were sold during your lifetime or by your estate. As a result, leaving these types of gifts to charity can be both impactful and financially efficient.

Legacy giving offers a way to support the causes that matter most to you, without affecting your financial security during your lifetime. It is a flexible and thoughtful way to make a lasting difference, and for many people, it also represents a smart part of their overall estate planning.

If you would like to learn more about tax-efficient giving, join us for a free online event for RSGS Members this Monday, with Azets Wealth Management. Register here.