If you are the executor of someone’s estate, probate doesn’t have to be a complicated process. Here is some guidance and frequently asked questions about estate administration.
How can I pay in the Gift in Will?
Rainbow Trust Children’s Charity
6 Cleeve Court
Please send any accompanying paperwork with your payment and mark for the attention of the Legacy team
By bank transfer
Rainbow Trust Children’s Charity
Coutts & Co
Sort Code: 18-00-02
Account No: 08917841
Please ensure you reference the deceased’s name and that it is a legacy gift.
Can I claim Gift Aid?
Gift Aid is a tax break given to UK tax payers on any charitable donations they make from their own net income, and which the charity receives while the donor is alive. As a legacy takes effect after a donor’s death, Gift Aid cannot be claimed against their estate.
What about tax?
Rainbow Trust is exempt from Inheritance Tax, capital gains tax and some aspects of income tax. These valuable exemptions all apply to Gifts in Wills and estate administration, and can substantially increase the value of our gift, at no cost to any other beneficiary.
When completing the probate papers, you will be filling out an ‘IHT Account’ form to send to HMRC. These forms contain exemption sections asking for details of the ‘HMRC charities reference’. Rainbow Trust’s is 1070532.
The 36% rate of Inheritance Tax
Estates where at least 10% of their value passes to charities may qualify for a reduced rate of Inheritance Tax. This is charged at 36% instead of the current standard rate of 40%. Further guidance on calculating whether an estate meets this criteria can be found on the HMRC page
Can I let you know the reason for the gift?
If you know the reason Rainbow Trust has been remembered for a legacy, it would be wonderful if you could let us know. Knowing what has motivated someone to make this special gesture makes their gift much more personal and also helps us to understand why people leave us legacies, which are vital to ensuring our work for families who have a seriously ill child continues.
Will you add me to your mailing list?
Please be assured that your details as executor will not be added to any mailing lists as a result of contacting us about a legacy
How can I remove the person who has died from our mailing list?
Once we know someone has passed away, we can check whether they were a Rainbow Trust supporter. To do this, we need their name and address. If they are on our records, we will update our database.
How can Rainbow Trust help during with administration?
We can help you in a number of ways:
- Guidance on tax issues – we aren’t tax specialists but are happy to explain charity exemptions and how to use them during the administration.
- Advice on assets – we can offer practical advice on what to do with assets like shareholdings and unusual belongings.
With disposal of personal items and clearing a property, our shops would be most grateful for any sellable items like DVD’s, books, clothing and electrical items.
How can I help with the administration of the Will?
It’s helpful to know about a legacy early on, as it enables us to stop future mailings and say thank you as soon as possible.
It would be very helpful if you could supply us with:
- A copy of the Will.
- A brief list of the assets in the estate, before steps are taken to sell them – this helps determine the likely value of the estate and allows us to see whether we can recommend any professional services for the disposal
I think you are the right charity but the name in the Will is different?
As well as Rainbow Trust Children’s Charity, we are also officially known as Rainbow Trust. There are lots of other Charities with ‘Rainbow’ in their name. Please ensure you have the right charity by checking:
- If there is a registered charity number in the Will. Ours is 1070532
- The similarity of the name in the Will, to our name and those of other charities.
- Any address given in the Will which is related to Rainbow Trust
- Any history of lifetime support
- The Will states the legacy is be used in a particular way/area
Leaving a legacy to Rainbow Trust is an incredibly special gift. We will make sure that we use the funds in the requested way if we possibly can. In the unlikely event that we can’t action as specified, we will discuss with you how else you would like us to use the gift to support more families. A copy of the Will would be much appreciated to enable us to carry out the wishes of the deceased.
What if the Will mentions Rainbow Trust but has the wrong address?
Our head office is now at 6 Cleeve Court, Cleeve Road, Leatherhead, Surrey KT22 7UD.
Any other address may be a Rainbow Trust shop, regional fundraising office or care team. If in doubt, please contact us.