Although we receive funding from many other sources, it is our dependency on legacies that enable us to see our long term projects through.
Since 1876 Vision Support began to grow organically in supporting people with a visual impairment and in more recent years have dramatically expanded offering a wide range of services and support throughout North Wales and Cheshire.
What most people don’t realise is how much the charity relies on legacies to support its development. Vision Supports long term aim is to continue to grow, enhance and expand on the services we provide whilst making every effort to reach the people whom at present are not receiving services and to raise awareness of the issues facing those who have a visual impairment within our region.
Where legacy funds go
In one year..
• More than 3000 people will visit our Mobile Information Units to access support and services
• We will reach 1000 new service users through our Resource Centres
• Over 200 individuals with a visual impairment will receive one to one IT Training
• Our home visiting teams will make more than 5000 visits, helping to relieve the social isolation of those living alone
• Assistance in submitting benefit claims is given by our Welfare & Benefits team for benefits our service users may otherwise not claim for
• Supporting our Volunteer schemes, Social Groups and Clubs activities
Legacies allow us to continue to fund these valuable services and enables us to expand and continuously improve all areas support we offer people living with a visual impairment whilst supporting their family and friends around them.
Choosing a legacy
Another uncommonly known fact is that there are many ways a legacy can be left but generally there are four main ways to leave.
A specific legacy
You can specifically name an item or items that belong to you in your will. For example paintings, antiques and even shares. It must be noted that gifts of this kind have failed to be given in the past due to them not being identified specifically in a will.
A pecuniary legacy
A chosen amount of money is the most commonly known legacy. However what people tend to overlook is that the amount will decrease in value, so if you intend the value of your gift to remain as initially intended you may wish to discuss this with your solicitor.
A residuary legacy
One of the most straight forward ways to leave a legacy is to leave the remainder of your estate once all expenses, taxes, debts and any other outstanding concerns paid such as other legacies. The remaining balance which will increase in value as the value of your estate increases, can be divided between as little or as many people or organisations as you wish.
A reversionary legacy
The reversionary legacy is when your beneficiary or beneficiaries have been selected but still have an agreement set up in allowing a person or persons to continue to have the use of chosen parts of your estate such as your home until an agreed date or in some cases for the remainder of their lives. In turn when such time arrives the legacy stated in your will would be then passed to the charity.
When leaving your estate to people you must be aware of how much your estate is allowed to be worth before your beneficiaries will have to pay out inheritance tax which is currently set at 40%. However, all monies left to a charity is exempt from tax. It would be advisable to contact your solicitor to be clear of the where your property is situated on inheritance tax bench mark and also the tax percentage as they may vary in time.
If you would like to discuss leaving a legacy to Vision Support please contact us on:
Post: Vision Support Head Office, Units 1&2, The Ropeworks, Whipcord Lane, Chester, CH1 4DZ (Please mark the envelope Legacy Enquiry)
Tel: 01244 381515
Please note that all legal advice must be taken directly to your solicitor and not to Vision Support.