For executors and solicitors
Paying a gift
All gifts in Wills are looked after by our Legacy Administration Team at our Head Office in Poole, Dorset. They are the only people authorised to give a proper receipt and discharge to executors.
Legacies for the specific benefit of a particular location, station, or purpose should still be sent to this address. This enables our dedicated volunteers to devote more of their time to their lifesaving work. The team will of course make sure that the funds are restricted for the location or purpose specified in the Will.
You can send a cheque payable to ‘The Royal National Lifeboat Institution’ to:
West Quay Road
Dorset BH15 1HZ
Or if you want to make a payment by other means please contact our Legacy Administration Team.
We will be really grateful if you can include:
- the full name and title of the deceased
- their last address
- the date of death
- the executor’s name and contact details
- a copy of the Will
- any information about the reason for the legacy.
It is also good practice for an executor to notify beneficiaries as soon as possible.
In the case of charities, this will enable them to amend their records to ensure that future mailings are not sent out to the deceased if they had been a supporter. We know that such things can be distressing.
Collection of items
We don’t usually collect items, unless there are exceptional circumstances. Unlike other charities, we don’t have a chain of shops where we can sell items that have been left to the RNLI. We are able to sell some items through eBay, but items of value or special interest such as stamp collections and artwork, are valued and sold with the help of professional auctioneers or retail specialists. In such instances, we would make special arrangements to arrange collection or delivery.
Administering a gift
In most cases we would prefer to receive the sale proceeds of property or shares gifted to the RNLI in a Will.
However, each individual case is different, so before taking any action to either transfer or sell the property or shares, please contact Guy Rose, RNLI Legacy Manager, on 01202 663008.
Tax due on a legacy
Broadly speaking, inheritance tax is not payable on legacies to registered charities. Because we are a registered charity, gifts to the RNLI are deducted from the estate before inheritance tax is calculated.
Charities are exempt from capital gains tax. They can also reclaim income tax that has been deducted at source from gifts bequeathed to them. Gift Aid, however, does not apply to legacies.
The rules are complex, so to avoid the estate paying more tax than necessary please contact Guy Rose, RNLI Legacy Manager, on 01202 663008 or consult a professional.