WHEN MAKING YOUR WILL- PLEASE CONSIDER INCLUDING A LEGACY TO IHCPT – IRISH PILGRIMAGE TRUST.
A gift to IHCPT – Irish Pilgrimage Trust through your will is an excellent way to ensure that the support and good work you gave during your lifetime lives on into the future.
You don’t need to leave a large sum – your contribution whether large or small will help us continue to assist young people with special needs to avail of respite care and pilgrimages to Lourdes
As a charity, we are exempt from inheritance tax and your gift will be realised in full. Neither you, your estate nor IHCPT – Irish Pilgrimage Trust will have to pay any tax to the Revenue Commissioners on your gift.
If you decide to leave a gift to IHCPT – Irish Pilgrimage Trust , please let us know. Your pledge is confidential and not legally binding. It does not commit you in any way but it is very helpful in enabling us to plan ahead.
If you have not already made your will, it is worth doing so. If you die without having made a will, your estate will be divided by law and not in accordance with your wishes and your family may experience difficulties and additional expense in sorting out your affairs.
If you have already made your will and would like to add a gift to IHCPT – Irish Pilgrimage Trust it is easy to amend it by completing a codicil, which your solicitor can draw up for you. Many people use the opportunity to review their will anyway.
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IF YOU WOULD LIKE TO REMEMBER THE IHCPT – IRISH PILGRIMAGE TRUST IN YOUR WILL, THERE ARE VARIOUS WAYS YOU MAY LEAVE US A GIFT.
( Some of the legal terms used to describe gifts given by will are “Legacy” or “Bequest” or “Devise.”.
The person making the will is called “the Testator”.
A “codicil” is an addendum added onto a will at a later date.
The “residue” of an estate is whatever is left over after all the debts and expenses are paid and all other bequests and legacies to family/friends are paid out)
1) RESIDUARY LEGACY
A residuary legacy is the gift of the residue of your estate, or a share of the residue, after other bequests to your family and friends have been made and all debts, taxes and expenses have been paid. Generally, this kind of legacy is of greatest benefit to us, as its value increases with the value of your estate.
A sample of the wording for a Residuary bequest of the entire residue is:
“As to all the rest residue and remainder of my estate of whatsoever nature and wheresoever situate I Give, Devise and Bequeath the same to the IHCPT – The Irish Pilgrimage Trust, Head Office, Kilcuan, Clarinbridge, County Galway – Revenue Charity Reference No. 5991 for its general charitable purposes. The receipt of The Honorary Treasurer for the time being of the IHCPT – The Irish Pilgrimage Trust or other proper Officer shall be sufficient receipt to my Executors for payment of the said sum”.
A sample of the wording for a Residuary bequest of a percentage of the residue is:
“As to all the rest residue and remainder of my estate of whatsoever nature and wheresoever situate, I Give Devise and Bequeath % ( percentage) to the IHCPT – The Irish Pilgrimage Trust, Head Office, Kilcuan, Clarinbridge, County Galway – Revenue Charity Reference No. 5991 for its general charitable purposes. The receipt of The Honorary Treasurer for the time being of the IHCPT – The Irish Pilgrimage Trust or other proper Officer shall be sufficient receipt to my Executors for payment of the said sum”.
2) PECUNIARY LEGACY
A pecuniary legacy is a gift of a specific sum of money. It can also be index-linked to protect its value.
A sample of the wording for a Pecuniary Legacy is:
“I give the sum of € (insert the amount in figures and words) to The IHCPT – The Irish Pilgrimage Trust, Head Office, Kilcuan, Clarinbridge, Co. Galway, Revenue Charity Reference No: 5992 for its general charitable purposes. The receipt of the Honorary Treasurer for the time being of the IHCPT – The Irish Pilgrimage Trust or other proper Officer shall be sufficient receipt to my Executors for payment of the said sum”.
The pecuniary legacy may be index linked by adding in the words “or such larger sum as my Executors calculate to have the same value at the date of my death as € (amount in figures and words) had at the date of this my Will.”
3) SPECIFIC LEGACY
A specific legacy is a gift of a particular item. This can include stocks and shares, proceeds of a life assurance policy, property, furniture, art works or jewellery.
A sample of the wording for a Specific Legacy is:
I bequeath (the item specified) ……………………………..to The IHCPT – The Irish Pilgrimage Trust, Head Office, Kilcuan, Clarinbridge, Co. Galway, Revenue Charity Reference No: 5992 for its general charitable purposes. The receipt of the Honorary Treasurer for the time being of the IHCPT – The Irish Pilgrimage Trust or other proper Officer shall be sufficient receipt to my Executors for payment of the said item”.
4) A “GIFT OVER” LEGACY
A “Gift over” legacy is where a testator can state what should happen if a person he wishes to inherit under his will were to die before him.
A sample of the wording for a “Gift over “ Legacy is:
“In the event of the above named (insert name of beneficiary) predeceasing me then and in that event I Give Devise and Bequeath the share of (insert name of beneficiary) to the IHCPT – The Irish Pilgrimage Trust, Head Office, Kilcuan, Clarinbridge, Co. Galway for its general charitable purposes. The receipt of the Honorary Treasurer for the time being of the IHCPT – The Irish Pilgrimage Trust or other proper Officer shall be sufficient receipt to my Executors for payment of the said gift, devise or bequest.”
Content of this page is not intended to substitute for professional legal advice. Your solicitor is the best person to advise you in relation to making your will. If you or your solicitor require any further information about IHCPT – Irish Pilgrimage Trust or the work we do, please contact us at:
info@irishpilgrimagetrust.com or
Phone number 00 353 91 796622.