Your Legacy to Charity
A Gift, An Heirloom, A Bequest- Something left behind for those who come after.
Leaving a gift to charity in your will is an amazing way for your generosity to last beyond your own lifetime.
Find out how you can be part of My Legacy Week.
Why are gifts so important to Age Action
It's a common myth that only the rich and famous leave money to charity when they die. This couldn't be any further from the truth. The reality is without the gifts left in wills by people like you, many of the charities we know today wouldn't even exist.
Thankfully 74% of the Irish population support charities and when asked, 35% of people say they'd happily leave a gift in their will once family and friends had been provided for.
The problem is only 7% actually do.
That's why, if you leave some money in your will for charity as well as your family, you can make a huge difference. In fact, just a 4% change in behaviour would generate an addition €8 million for good causes in Ireland every year.
Leaving a gift to Age Action gives the chance of a better quality of life to thousands of people and you don’t need to give a large sum to know you have helped. We rely heavily on legacies, especially since they enable us to plan long-term funding for our programs. Many of these projects result in improved lives for older people, which is why legacies are so greatly appreciated.
If you would like to remember Age Action in your will, there are three kinds of legacy you may leave.
- RESIDUARY
A residuary legacy is the gift of the re-sidue of your estate, or a share of the residue, after other bequests to your family and friends have been made and all debts, taxes and expenses have been paid. Generally, this kind of legacy is of greatest benefit to us, as its value increases with the value of your estate. - PECUNIARY
A pecuniary legacy is a specified sum of money, determined when the will or codicil is written. - SPECIFIC
When a particular item of value is bequeathed, this is a specific legacy. This can include stocks and shares, proceeds of a life assurance policy, property, furniture or jewellery.
If you already have a will, it’s easy to amend it to include a gift to Age Action. Minor changes like this do not require a new will, as an existing will can be amended by completing a codicil, which your solicitor will help you draw up.
Legacies to charity are exempt from tax. So by leaving a gift to Age Action, you could substantially reduce the amount of tax payable by your family on your estate.
Your solicitor may find the following wording helpful if you would like to remember Age Action in your will.
- For a gift of the residue of an estate:"I give to Age Action of 30 Lower Camden Street, Dublin 2 all (or a fraction) of the residue of my estate whatsoever and wheresoever and I direct that the receipt of the Treasurer or other proper officer for the time being of the said Foundation shall be a full and sufficient discharge of the same".
- For a gift of a fixed sum or specific item:
"I give the sum of € …….. or I bequeath (the item specified) ………………….. To Age Action of 10a Grattan Crescent, Dublin 8, D08 R240 and I direct that the treasurer or other proper officer for the time being of the said Charity shall be proper and sufficient discharge for the same".
So, you don't have to be rich and famous to make a contribution that can make a difference. You can do something amazing for people just by remembering Age Action when writing your will. Thank you for considering to make this gift.
For more information on leaving a Gift to Age Action contact fundraising on 01-4756989.
For further information on what a legacy can do for Age Action, or for a copy of "A Useful Guide to Making a Will", please contact Age Action on 01 4756989 or Email: fundraising@ageaction.ie
