Leave a Legacy
1 In 2009 a treasure trove of vintage cars was uncovered in Norfolk following the death of retired wheelwright, James Blanch who had a passion for collecting old cars.
2 A popular character, but with no close relatives to inherit, the executors of his estate wanted to ensure that the money raised from the auction of the cars was managed to reflect his interests.
3 The J P Blanch Grassroots Fund was created as a lasting legacy for young people interested in automotive engineering, who might not otherwise have access to bursaries, placements and training.
If you love Norfolk, you may be thinking of leaving a gift in your will to support local charities, good causes or community groups in their work to meet need in the county. It’s a great way to leave a positive mark on the community long after you are gone.
The Foundation offers an ideal way to leave a legacy efficiently and easily, with a number of options available to ensure that your legacy achieves exactly what you want it to.
You may choose to ask the Foundation to allocate your gift to one of our theme based funds, or one in a particular geographical area. Alternatively, you may decide to create a named fund to support your own particular charitable interests as well as ensuring your name lives on in the future. If you wish, this option allows your family to have an input on how the funds are distributed too.
Another option is to leave your gift to the Foundation’s Love Norfolk Fund, which pools donations of all sizes to provide grants to Norfolk organisations.
Whichever route you choose, by using the Foundation to help you manage your legacy you can be confident that the money you leave will always be used wisely and never put at risk.
“My estate wouldn’t be big enough to justify setting up a separate trust fund, but by creating a fund within the Norfolk Community Foundation, I know that my legacy will be well managed and properly targeted by an organisation expert in getting money to where it is needed. Setting the legacy up was very simple, and I would certainly recommend it as an excellent mechanism for anyone who wants to give something back in their will” — Andy Newman
Charitable gifts are exempt from inheritance tax and could help reduce the total amount of tax paid on your estate. Anyone leaving at least 10% of their estate in their will to charity benefits from an effective reduction in inheritance tax from 40% to 36%. As an accredited Community Foundation, legacies made to Norfolk Community Foundation qualify as a charitable donation.
For more information on leaving a legacy for your local community through the Norfolk Community Foundation, please contact Graham Tuttle on 01603 623958.
We recommend that you seek professional advice from a solicitor before writing or amending your will.