Charitable gifts and legacies left in wills to the RMBF make up more than 50% of our fundraising income. We simply could not do what we do without them. Your legacy means that we can keep on providing financial support to doctors and their families in times of need.
We understand that writing a will and leaving a gift is likely to be one of the hardest and most important things you may do in your lifetime. There could be many people to consider – family, relatives and close friends are likely to be top of the list, but by remembering the RMBF, we can benefit too.
How to leave a legacy gift
Once your loved ones have been considered, you could then leave a gift to the RMBF in the following ways:
- Pecuniary gift
This is a sum of money left to the RMBF in your will
- Residuary gift
This gift is the whole, or percentage (or share) of your estate left to the RMBF in your will, after all other bequests and costs have been paid
- A specific gift
This gift is an item of property, works of art, antiques or any non-monetary gift of value left to the RMBF in your will.
- A reversionary gift
This gift allows for your assets or estate to be passed on to your named individual(s), for the duration of their lifetime, after which your gift reverts to the RMBF.
How you would like to leave a gift to the RMBF is entirely dependent on your personal circumstances. However, we do strongly suggest that you seek out legal advice from your solicitor or legal representative before attempting to draw up or change your will.
As well as being completely tax free to the RMBF, under current UK Tax Legislation, leaving a gift to the RMBF can help alleviate your overall tax burden, allowing you to leave more for your family. Inheritance Tax is currently paid to the government at a rate of 40% if your estate is worth more than £325,000. The rate could be reduced to 36% if 10% or more of your estate is left to charity.
Find out more
Joe Meredith, Fundraising & Communications Officer
[email protected] – 020 8545 8441