If you choose to leave the Guild a legacy the services of a Solicitor should first be sought for the purposes of making a Will. Solicitors are experts in this field and helping people to make a Will is an important part of their work. For UK taxpayers donations to the Guild are free of both Capital Gains Tax and Inheritance Tax, whether made during a person’s lifetime or as a bequest in a Will.
There are numerous types of legacy and the most common are described below:-
This involves leaving all or part of the net residue of an estate after all pecuniary legacy, debts, fees and other charges have been met.
Therefore, there is no requirement to quantify the amount to be left or to take into account the effect of inflation.