Wills & Legacies
Leave a legacy
The Cut was set up in 2000 as an independent arts-based charity serving the community. We rely heavily on self-generated income from box office returns, business lets and venue hire. Our wonderful volunteers make survival possible. However, the historic building is expensive to maintain and The Cut is always looking to develop its facilities and offerings in line with modern expectations. Financial support is ever welcomed. Large or small, all legacy gifts are important to us.
One practical way of supporting the Cut is to remember it in your Will, especially as gifts to charities are exempt from Inheritance Tax. It’s easy to put off thinking about this but it’s never too early to put your affairs in order by making a Will anyway. A legacy can be made by way of a cash gift of a fixed amount of money or as a ‘share’ legacy, a gift consisting of a share of what is left of your estate once all other legacies, debts and taxes have been paid.
Can I write my own Will or do it online?
There are many pitfalls in ‘homemade’ Wills. The old but true adage is that lawyers make far more money out of flawed Wills than drawing them up! There are all sorts potential trips so it is definitely recommended that your Will be prepared by a legal professional who would, crucially, also arrange its full and proper execution and the very specific wording for charitable gifts.
Can I add The Cut to my existing Will?
If you already have a Will, you can certainly still help by adding a codicil to include a gift to The Cut. Although a codicil is a short and fairly simple legal document, it is recommended that you ask a professional to prepare it for the reasons above.
(NEVER make handwritten amendments to your current Will – this could well invalidate the whole Will).
How often should I review and update my Will?
You should look over your Will as and when your personal circumstances change – for example, if there has been a birth, death or divorce in your family. Remember that marriage invalidates a Will but divorce doesn’t.
Would my spouse/partner need to change their Will/Codicil too?
If you and your spouse/partner have made ‘mirror image’ wills and wish to retain this way of dealing with your affairs, both should be amended.
For further information, leaflets are available at the Cut.
you don’t have to wait until making a Will – we appreciate donations any time!