All legacy gifts to the Cathedral are exempt from Inheritance Tax and a gift of 10 per cent or more of an estate could reduce the amount of Inheritance Tax payable from 40 to 36 per cent.
Making a will is simple and best done through a qualified solicitor, and we would suggest discussing the following wording with your own advisor if you are considering remembering the Cathedral in this way:
“I devise and bequeath [£X / X percentage] of the residue of my estate absolutely to the Corporation of Liverpool Cathedral of St James’ Mount, Liverpool, L1 7AZ [for its general purposes / for the maintenance of the Cathedral Fabric] with the full power to expend capital as well as income for
such purposes. I direct that the receipt of the Chief Officer or other authorised officer of the said Chapter shall be a good and sufficient discharge to my executors and trustees.”
If you would prefer to discuss your options in person, please contact our Fundraising Director, Julia Bates, who will be delighted to talk to in confidence.
T: 0151 702 7248