Personal Stories Giles' Story Did you know that the beneficiaries of an estate can amend a will after someone dies? A variation to the will in favour of one or more charities can reduce inheritance tax on an estate and provide much needed funding for good causes. Giles (pictured left), a long time supporter of The Cure Parkinson's Trust (CPT), was left a legacy gift in the will of his grandfather's cousin. Giles discovered that a variation to the will in favour of one or more charities could reduce the inheritance tax on his grandfather's cousin's estate. Subject to meeting certain provisions this could have even further benefits by lowering the actual tax rate from 40% to 36%. Here Giles explains how donating some of his inheritance to CPT reduced his own inheritance tax bill and provided much needed funding for Parkinson's research: “As the other beneficiaries were already giving to charities, I suggested we tried to benefit more charities by amending the will. Either we pay 40% tax on the taxable element or give 10% to charity and pay 36% on the rest. This doesn’t sound very much but £1,000 less 40% = £600 while £900 less 36% = £576. So every £100 going to The Cure Parkinson’s Trust only then cost us £24. This is a tax refund of 76%. Losing 2.4% from each taxable £1,000, did not then seem very much. We did have some challenges; primarily we all had to agree and then we all wanted to donate to different charities, so we gave it all to Charities Aid Foundation (CAF) and sorted it out afterwards. For us, this turned out to be quite straight-forward but please look at the government 'will after death' website and do seek some legal advice. Oh, and don’t wait too long - you only have a two year window to make the changes and forms need to be to agreed on and signed!” By remembering CPT in your will you could leave a lasting legacy and help advance pioneering research into treatments that could slow, stop, or even reverse Parkinson’s. David's Story Leaving a gift in your will can help The Cure Parkinson’s Trust fund cutting edge research into treatments that have real potential to slow, stop or reverse the progression of Parkinson’s. Eric Bousfield (pictured left with his wife Margaret) generously left a gift in his will to support medical research, as his son David explains: “My father chose to support medical research in his will, and as trustees, we chose to fulfil his wishes by donating to The Cure Parkinson’s Trust to support them in their mission to find a cure for Parkinson’s.” David’s father’s generous gift is being specifically assigned to CPT’s international Linked Clinical Trials (LCT) initiative, paving the way for new research into treatments which have the potential to slow, stop and reverse Parkinson’s. Most of the LCT treatments are already used to treat other conditions and CPT is testing these in Parkinson's because there is compelling biochemical evidence that they could be effective in changing the progression of the disease. This international initiative has thus far yielded promising and exciting results, but it can only continue with sufficient funding. If you would like your legacy to be a world without Parkinson’s, please consider leaving a gift in your will to The Cure Parkinson’s Trust or please look at our Legacy page on our website. Alternatively you could email Theresa or perhaps you would prefer to speak to someone in our office, if so please call 020 7487 3892. Thank you.