The Society, which is a registered charity founded in 1798, fulfils its charitable objectives by ensuring a range of functions and activities that are focussed on creating a lively interactive environment that allows all residents to lead a fulfilling and enjoyable life.
The Society’s important work is funded from a variety of sources including donations from charitable trusts, donations from individuals and families and income from its own fund raising activities all of which supplement the main source of income that is derived from Board Income. As a registered charity, the Society is a non-profit making organisation and should there be a surplus of funds they are re-invested to ensure its important functions continue to benefit residents.
In recent times the Society has been the beneficiary of a number of legacies from both individual and family trusts – valuable and much appreciated contributions.
It can be a sensitive subject but have you ever considered leaving a gift in your Will to the Society? For most people, understandably, providing for their families and friends is the priority. But once they have been included, a legacy to the Society from the remainder of your estate might be an option to consider. Any such legacy is completely exempt from inheritance tax.
The Society is committed to further developing its high standard of care for its residents and through your generosity you could play an important part in that commitment.
TYPES OF LEGACY
There are three main types of legacy:
Residuary, Pecuniary and Specific:
- A Residuary legacy is a percentage or remainder of your Estate after expenses and other gifts have been deducted.
- A Pecuniary legacy is a gift of a specified amount of money.
- A Specific legacy is a specific item such as property, jewellery, shares, etc.
Details to include in your Will:
If you do decide to leave a gift to Greenock Medical Aid Society in your Will then it is important to give your solicitor our correct details to ensure your wishes are met. These are:
Greenock Medical Aid Society
47 Eldon Street
Scottish Charity Number: SC004538
If you have already written your Will and would now like to include Greenock Medical Aid Society, this can be done by adding a codicil to your existing Will. You can return this codicil to your solicitor to include Greenock Medical Aid Society in your Will which will ensure any future amendments include your wishes for Greenock Medical Aid Society.
We advise that you consult a solicitor when reviewing your Will.