Today, on International Legacy Giving Day, My Legacy called on Government to remove VAT from the cost of making a Will if a charitable bequest is included.
Unlike other countries, many Irish people do not make a Will despite how vital a life document it is and how difficult it can be for beneficiaries where there is no Will.
However, since the beginning of the pandemic, solicitors have been reporting a significant increase in Will making enquiries as Covid focused people’s minds on getting their affairs in order, prompting open conversations about the future within families and friends like never before and a greater realisation of what was important to them.
My Legacy asks people to consider leaving a legacy gift in their Will to support a cause that means something personal to them once family and friends have been looked after and all other personal decisions have been made.
Today, My Legacy is asking government to acknowledge and encourage these personal acts of kindness by removing VAT from the cost of making a Will if a charitable bequest is included – at negligible cost to the Exchequer.
Aoife Garvey, Chairperson of My Legacy, said: “If 1,500 more people left a legacy gift, the VAT foregone would only cost €68,702 yet the future impact for recipient charities could be immense. The last 18 months has been a difficult time for all of us – individually and collectively. Irish charities will continue to care for our most vulnerable citizens and legacy giving is increasingly vital for providing sustainable, shock-proof services. Legacy gifts of all sizes can safeguard the future and maximum service capacity of a charity, at no cost to the donor now, and will protect the vulnerable in our society in the future.”