Leave A Legacy

Many people choose to leave a portion of their estate to help others in their community.

A Cornwall Community Foundation named endowment fund offers the ideal way to ensure that your bequest benefits local people for generations to come. You can specify where your money will be used (and by whom) and we will ensure that your wishes are carried out. This means that you can guarantee that any money you leave will only be used as you wish. Members of your family or other appointed people can also be involved in deciding who receives grants from your fund. You can take advantage of the same benefits as a gift made now when you set up a legacy based named fund, with the added bonus that legacy funds also have no inheritance tax liability, saving your estate up to 40% in tax. And because there are no lengthy legal responsibilities to consider there is no need for large solicitors bills. We have a simple agreement that outlines how the fund will operate, which we agree with you.

There are several different types of legacy, such as a Pecuniary legacy which is a tax-free fixed amount, or a Residuary legacy in which the remaining value of your estate when all other bequests have been made is given, or gifts of shares or property which may also qualify for income tax relief.

It is important to use professional help to make your will clear, because it is the only way to make certain that your wishes are carried out after your death. This will be especially helpful to loved ones, as without a will the law decides who inherits your estate.

The most difficult choice can be the charity to benefit from your legacy. The Cornwall Community Foundation makes grants specifically to local not for profit groups on behalf of donors.