Legacy

Attending, participating and appreciating theatre in all its forms has a huge impact on the lives of many people.

For many regular theatre goers making a bequest (a planned gift) to Watford Palace Theatre provides a lasting tribute. As Watford Palace Theatre is a registered charity, leaving a Legacy is not only a way of supporting the theatre and its education programme for generations to come but also helps reduce inheritance tax. Any bequest made to Watford Palace Theatre is deducted from the value of the estate before tax liability is calculated.

If you have already made a will, the simplest way to add an instruction regarding an additional beneficiary is to complete a Codicil* (an addition to a will). A Codicil contains supplementary instructions, and is drawn up and witnessed in exactly the same way as a will, preventing you having to have a fresh will redrafted.

There are three main types of legacies:

 

  • A pecuniary legacy is a gift of a fixed sum of money. There is no minimum amount that can be left.
  • A residuary legacy is a gift of the whole or a share of whatever remains of your estate after all other gifts have been distributed and any debts paid off.
  • A specific gift is a tangible item such as a house, piece of jewellery or a work of art.

    A solicitor can advise as to the best solution for your circumstances.

    Acknowledging your support

    Leaving a bequest to the Palace will ensure that future generations of theatre-lovers – both young and young at heart - will share the magical experience of live theatrical performances at the Palace. All legacy gifts will be acknowledged on the theatre’s website and in production programmes.

    If you would like to discuss leaving a legacy to Watford Palace Theatre please contact Joanne McIntosh on 01923 810305.

    *We would recommend that you seek legal advice before adding a codicil to your will.

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