Leave a legacy

Leaving a legacy costs nothing in your lifetime but it will have impact for years.

Every gift makes a real and lasting difference to people in your profession.

There are four kinds of legacy you can leave to help us with our valuable work:

  • A residuary legacy is part or all of your estate (after debts, funeral costs and other legacies are paid).
  • A pecuniary legacy is the gift of a specific sum of money.
  • A specific legacy is the gift of a particular item – for example, a piece of property or a valuable antique to be used or sold by the beneficiary.
  • A reversionary legacy is worth considering if you are worried about providing for your family but don't want to turn your back on your favourite causes.   It means that you can leave assets to a named individual for their lifetime whilst at the same time deciding who should benefit after they have passed away.

Inheritance Tax 

If you choose to leave a gift to a charity in your will, its value will be deducted from your estate (your money, possessions and property) before Inheritance Tax is worked out.   Gifts made to a charity in the seven years before your death are exempt from Inheritance Tax.

If you would like to remember us in your will, here is some suggested wording for your solicitor:

Residuary gift wording

“I give to The Institution of Engineering and Technology Benevolent Fund (Registered Charity No. 208925) of Napier House, 24 High Holborn, London, WC1V 6AZ, all/ fraction / percentage share of the residue of my estate, to be used for its general charitable purposes, and I direct that the receipt of the Treasurer or duly authorised officer shall be a valid and appropriate form of discharge.”

Pecuniary or specific gift wording

“I give to The Institution of Engineering and Technology Benevolent Fund (Registered Charity No. 208925) of Napier House, 24 High Holborn, London, WC1V 6AZ, the sum of £ amount/specific gift of my (item), to be used for its general charitable purposes and I direct that the receipt of the Treasurer or duly authorised officer shall be a valid and appropriate form of discharge.” 

Click here to view HMRC Information - Leaving gifts to charity in your will

 

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To make a donation online, follow the link and visit our Virgin Money Giving page.

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