Frequently asked questions about Legacy giving
Q: What types of gifts can I leave the Freemasons’ Charity?
A: There are two main types of legacy gifts that the Freemasons’ Charity receives: a pecuniary gift, which is a set amount of money, and a residual legacy, which is a percentage of your residual estate after costs, debts, and other legacies have been taken into account. There is a third type of legacy that we occasionally receive, called a specific legacy, and that’s when somebody leaves us a specific item of value, such as a painting or a piece of jewellery.
Q: What type of information should I include when leaving the Freemasons’ Charity a gift in my Will?
A: The Freemasons’ Charity (working name of the Masonic Charitable Foundation) can supply anyone who is thinking of leaving a legacy in their Will to us with some suggested wording, but in general terms, the important things to include in a clause are:
• Full name of the charity – Freemasons’ Charity
• Type of gift – whether it’s pecuniary or residual
• Full address – 60 Great Queen Street, London, WC2B 5AZ
• Registered charity number – 1164703
Q: Will my gift be subject to Inheritance Tax?
A: If your estate is worth over £325,000, there is a possibility that it will be affected by Inheritance Tax. All legacy gifts to the Freemasons’ Charity are free from and exempt from Inheritance Tax, and by making a legacy gift in your Will to the Freemasons’ Charity, you could potentially lessen the burden of Inheritance Tax on your estate.
Q: Should I provide for my family first?
A: Yes, family and loved ones should always be taken care of first and foremost. But if you do have any wiggle room, once you’ve protected your family and loved ones, leaving the Freemasons’ Charity a gift in your Will would be greatly appreciated. All our legacy donors are now recorded in an In Memorium book that is on public display here at Freemasons’ Hall.
Q: Do I need to tell you if I’ve left a gift to the Freemasons’ Charity in my Will?
A: You don’t have to tell the Freemasons’ Charity if you’ve left a gift to us in your Will. However, we are always interested to hear from anyone who has pledged a gift and to know your motivations for doing so — but ultimately, it’s a personal decision.
Q: Can I change my mind?
A: We often get asked this question, and the answer is yes. I would personally recommend that everyone reviews their Will every five to seven years because life events happen — deaths, births, marriages, and divorces can all affect the instructions in your Will, and in some cases can even invalidate it. So, I think it’s important to check your Will every five to seven years, and if you need to update it or write a new one, the Freemasons’ Charity can also assist you with that.