How a gift in your Will could help St Dominic’s Priory and Parish
The Impact of Legacy Giving
Gifts left in Wills are a vital source of income for us. They can enable us to undertake vital building works or other large expenditures without having to draw money away from our day-to-day mission. When providing for the needs of family and friends in your Will, please consider making a bequest to St Dominic’s Priory and/or Parish.
Gifts in Wills are essential for the mission of St Dominic’s and the Rosary Shrine. Over the past ten years, gifts made in Wills by 14 men and women have provided over £290,000 of funding to our parish and priory, allowing us to undertake essential repairs and restoration works. Every gift we receive in this way creates an enduring legacy within our community. Our deceased brothers and sisters are able to continue to support the church that they loved during their lifetime.
What your donations help us to do
Legacies and other gifts are essential to our mission here in London.
- It currently costs up to £250,000 a year to run our parish, including heat and light, a small stipend for our priests, a parish administrator, maintaining our buildings, holding community events, and more.
- The community of friars that ministers here largely funds itself through paid employment. However, support from donors helps maintain their home, the priory, as well as providing for the friars’ needs.
- The maintenance, restoration and improvement of our church and other buildings relies heavily on donations including gifts in Wills.
A gift in your Will could have a lasting benefit here.
Giving through your Will offers a unique way to have a lasting impact on the charities that matter to you, such as St Dominic’s.
Legacy gifts to charity can also help you to reduce the tax burden on your next of kin (see below).
If you would like to leave a gift to in your Will, you need to indicate what you wish to support:
- St Dominic’s Parish – serving the parishioners, maintaining our buildings.
- The Rosary Shrine fund – making our church beautiful.
- St Dominic’s Priory – providing for the friars who serve here, and for their home, the priory.
You can consult with the Parish Priest or the Bursar if you wish to discuss what to support. They can also provide information for you to include in your Will.
Ways to Give
In making a bequest, you have a choice of three ways to give:
- Percentage of your estate – a portion or the whole of what is left once debts and funeral expenses have been paid, and other bequests made.
- Fixed amount – a specific sum of money
- Property or goods – a building you own, or other things such as stocks and shares, or pieces of jewellery
In drawing up your Will, your solicitor will need exact details for each of these three ways.
UK Tax Benefits
Gifts to charity made in your Will are not taxed. Furthermore, giving in this way lets you reduce the burden of inheritance tax on your next of kin. Inheritance tax is currently (2022) payable on estates valued at £325,000 or over, with tax set at 40% on the amount over this threshold. However, if you donate 10% or more of your net estate to charity, the rate of tax is reduced to 36% on non-exempt gifts.
You should seek the advice of solicitors when drafting a clause to benefit from this reduction in the rate of tax.
Writing Your Will
Making a Will is easy. All you have to do is consider how you wish to divide up your property, and make sure these wishes are clearly communicated. You can also use your Will to give clear instructions about your funeral.
It is, however, advisable to get a solicitor (lawyer) to help you to draft it. The same is true if you have made your Will already, but want to revise it.
St Dominic’s is now able to offer our supporters access to a Free Will-Writing Service. We cover the fees of supporters referred to this service (note: if you use this free service, you are under no obligation to include a gift in your Will to St Dominic’s).
If you wish to discuss any of these matters, the Bursar or the Parish Priest will be pleased to meet with you. We can also provide information to your solicitors should they need it. See Contact Details, below.
Essential Information to Include in Your Will
If you wish to leave something to St Dominic’s Priory or Parish, please remember to state this clearly in your Will, and include the following details:
- The English Province of the Order of Preachers
Charity registration No.
- 231192 (England and Wales); SC039062 (Scotland).
Charity Registered address
- Blackfriars, St Giles, OXFORD OX1 3LY.
Funerals & Mass stipends
It is advisable to leave money to cover your funeral expenses. You may also wish to leave ongoing stipends for priests to remember you or your loved ones at Mass. Please speak with the Prior if you would like advice on this.
The Bursar, St Dominic’s Priory, Southampton Road, London NW5 4LB
020 7482 9214