LEGACY GIVING

One sentence in your Will can change someone’s life

Leaving money to charity in your Will is a time-honoured tradition of ‘giving something back’ in celebration of your own life, your faith, and the privileges you have enjoyed. After you’ve made provision for your family and friends in your Will, you have the opportunity to help the larger family of which we are all part – the whole of mankind.

By including a bequest to the St Vincent de Paul Society, you have the satisfaction of knowing that your compassion and concern for those less fortunate will live on beyond your own lifetime. Leaving a bequest costs absolutely nothing right now – and could even reduce the tax payable on your death.

If you have already included SSVP in your Will, please take a moment to let us know – we would appreciate the chance to thank you. Please also contact us if you’d like more information about legacy giving.

You are strongly advised to consult an attorney or your financial planner for expert advice, but you can find general information about the various types of bequests below.

Specific bequests

 

This is the most common and type of bequest. You stipulate an amount of money or a specific item of property (jewellery, artwork, motor vehicle, real estate, etc) that must be given to a person or charitable organisation on your death.

Whilst fixed bequests are the most straightforward, they don’t make allowance for inflation or any change in your circumstances. You need to review your Will regularly to make sure you are not leaving items you no longer possess to people who are no longer living.

A percentage of your estate

 

The advantage of this type of bequest is that it naturally adapts as your assets increase or diminish, ensuring a fair distribution among all your beneficiaries. Your loved ones will not suffer from your decision to include the Society of St Vincent de Paul in your Will.

The Residue

 

This is the amount that is left over after all your other beneficiaries have received their share of your assets. You can bequeath the whole of the residue, or a percentage of it to an organisation like the Society of St Vincent de Paul.

 

Proceeds from a life assurance policy

 

Often taken out during our younger years, these policies are aimed at protecting loved ones who might be left with the responsibility of a home loan to repay or university education to fund, should we die suddenly.

A policy that’s been in place for decades may no longer be needed for this purpose, and the beneficiary can be changed to the Society of St Vincent de Paul. Or, you can take out a new policy specifically for this purpose.

 

leaving a bequest