RNIB recommends best practice set out in "Guidance notes for Lay Executors" (PDF, 263KB) published by the Institute of Legacy Management (ILM). This guide is designed to provide a helpful reference during the administration of estates involving charitable beneficiaries. If you are a solicitor or professional advisor we can support you in preparing a Will. For more information on the responsibilities of executors (where there is a valid Will) and administrators (where there is no Will) see HMRC's information on inheritance tax.
Inheritance Tax (IHT) is usually paid on an estate when somebody dies. It's also sometimes payable on trusts or gifts made during someone's lifetime. Most estates don't have to pay IHT because they're valued at less than the threshold. If the estate - including any assets held in trust and gifts made within seven years of death - is more than the threshold, tax is payable at 40 per cent. However, anyone who leaves 10 per cent or more of their net estate to charity can choose to pay a reduced rate of IHT of 36 per cent.
If you need any further advice or assistance with regards to calculating and apportioning IHT, please contact Daniel Pepper on 01733 375 229 or email [email protected]. Visit HMRC's website for more information.
When you are in a position to make a payment from the estate, please contact us so that we can advise you on the best way to do this. We can also offer guidance if a legacy has been left to a specific fund or area of RNIB's work and you are unsure who to make the payment to.
All payments from estates with an expressed wish to benefit RNIB Sunshine Home for Blind Babies, Sunshine House Schools or the Sunshine Fund can be made payable to RNIB. This gift will then be allocated towards our specialist educational facilities for blind and partially sighted children and young people with complex needs.
RNIB has a helpful free guide available to download for Will writing professionals and executors, explaining what you can do to help when administrating a legacy in favour of RNIB. Simply download your free PDF or Word copy of the guide below:
If you have any other queries, please contact us by: