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Leave a legacy

Leaving a legacy to Great St Mary’s is one of the most effective ways that you can support the Church and safeguard its work and mission for future generations.  It costs nothing now and makes a big difference later

Many members of Great St Mary’s have given legacies in their wills.  These have made an enormous difference and without them we could not have undertaken recent transformative development projects.

  • Eileen Durose left us a half share of her house in north London. This paid for half of the costs of the recent development work.
  • Norah Money left us enough to cover the loss of income incurred while the development work was being carried out.
  • Margaret Sansom left money for Wider Concerns and we established the Sansom bequest Fund to ensure we made the best possible use of it.
  • Several other legacies have been paid into the Fabric Fund to enable other work to be carried out.

To make a will is important and deeply personal. A will ensures that you have provided for all who are dependent on you. It also spares your family and friends the difficult uncertainties that can arise if you die intestate, so it is good to make a will even if you have no direct dependants. The interests of those who rely on you come first, of course. After you have met these essential commitments, you may want to remember other causes and organisations that have been important to you. We hope Great St. Mary’s will be one of them.

If you would like to discuss any aspect of legacies, please contact the Patrick Brooke patricklhbrooke@gmail.com. You can learn more about Wills and the Church of England at www.churchlegacy.org.uk

Three Steps:

  1. Make a Will and review it regularly. We strongly advise you to seek professional advice and to see a solicitor when making or revising your Will.
  2. Consider leaving a proportion of your estate as a gift in your Will to our parish.
  3. Get a free information pack to help you; visit www.churchlegacy.org.uk or send a request to pack@churchlegacy.org.uk. You can contact Church of England’s Legacy & Wills Information Line on 08445 870875

Inheritance tax

Great St. Mary’s is recognised as a charity for tax purposes in the United Kingdom. Gifts to charities in legacies are exempt from inheritance tax, which is levied at 40% on assets exceeding £325,000. Furthermore, the Government has announced that, from 6th April 2012, anyone that leaves 10% or more of their estate to charity will benefit from a reduction in the rate of inheritance tax from 40% to 36%.

How your will can benefit Great St. Mary’s

There are several ways of leaving a gift to Great St. Mary’s in your will:

  • A residuary bequest leaves to the church all or part of the remainder of your estate, after charges and other legacies have been met.
  • A reversionary bequest leaves your assets to a named beneficiary (for example your spouse or other dependant) for their lifetime, the whole or a proportion reverting to Great St. Mary’s on their death.
  • A pecuniary bequest leaves to the church a specified sum of money, which can be index-linked to prevent its value being eroded by inflation.
  • A specific or non-monetary bequest allows you to leave shares, property, stocks, pictures or furniture to the church either on terms that they be retained or that they may be sold when advantageous to provide funds for Great St. Mary’s.