Knowledge

The ability to budget and forecast legacy income is an essential part of your charity’s financial planning. So, how is this done and what are the key issues and risks to consider?

Weekends mean ‘lie-ins’ in our household (in a very loose sense of the word). The chance to enjoy the comforts of a soft mattress and a bit more shut-eye for an extra hour or so until the necessities of the day and the co-ordinating of children can’t be put off for any longer.

Have you ever been asked to make an ex-gratia payment from your share of an estate, and weren’t sure if you should agree? If so, you wouldn’t be alone.

Checking estate accounts can seem time-consuming and confusing. So why is it vital that you do it, and what should you look for?

On occasion, your charity may be asked to become the executor of a Will, either by someone who is making their Will, or in respect of a person who has died leaving a Will but their named executor is unable or unwilling to act. Should you agree to do this and what are the risks and benefits?

One important way of increasing the value of a legacy is by claiming back the tax paid on income received during the course of an administration. Although the sums involved may seem modest when compared to the overall value of the legacy received, when added up it can amount to a considerable sum which can then be used toward your charitable objectives. So, what are the principles, and how is it done?