Leaving a Legacy and In Memoriam Giving
Legacies are special gifts from one generation to another. By remembering Oxfam Ireland's work in your Will, you are providing people who really need your support with hope for their future.
Did you know that in the UK, charities receive between 40-65% of their income from legacies but in Ireland this figure is only between 5-10%? And yet it is a very simple way to give and show commitment to a cause.
Why is it so important?
Knowing that money will become available to us in future years means that we can invest now in the long-term development work that is needed to combat poverty effectively as well as allowing us to act immediately in emergencies whenever and wherever they may occur.
With projects in countries Africa there is enormous scope to make a real impact on poverty with the long term goal to enable the poorest countries in the world to become completely self-reliant.
Types of Legacy
The main ways you can leave a gift in your Will are:
- A residuary legacy - a share or percentage of your whole estate. This means that however much your financial circumstances change, the proportion of your estate each person receives will stay the same. Usually it is shown as a percentage of what is left of your estate once all expenses, debts and specific gifts have been taken out.
- A pecuniary legacy - A fixed sum of money
- Specific gifts/bequests - eg a house/land or personal possessions
Legacies are an extremely tax-efficient way to give to charity - in fact legacies to charity are completely free of Inheritance Tax. Oxfam would receive 100% of any gift you choose to leave.
We can send you a legacy information pack which outlines in greater detail the various ways in which you can leave a legacy and takes you through the steps you need to consider before seeing your solicitor. To receive a pack, contact us.
In Memory of...
"During a time of sadness it really does help to do something positive. I make an In Memoriam gift to Oxfam each year, to commemorate my brother's birthday. It gives me the opportunity to remember him and to pay tribute to his support for Oxfam."
Hannah Terry
An In Memoriam Gift gives us the chance to support people who are fighting against poverty and suffering, helping them to build a brighter future for themselves and their families. An In Memoriam gift can be arranged at any time - for example, you may choose to make a donation each year to commemorate a loved one's birthday. Your donations will also be gratefully accepted in lieu of flowers at the passing of a loved one.
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