Have you considered leaving a legacy in your will? Leaving a charitable bequest to VAI is a gesture that continues long into the future. Making decisions on how to be remembered and having a direct impact on future lives can be daunting, and yet it is very simple. Mentioning VAI by name is a way that you can ensure that your legacy will have a positive impact of the future support of visual artists in Ireland.
As well as grants from funders, we rely on self-generated income such as services, membership, donations and sponsorship to achieve our goal. Therefore, leaving us a gift in your will will assist us in the drive towards our vision as we dare to dream of a time when visual artists will live in a world of opportunities.
Leaving a donation is highly tax efficient as such donations are entirely tax free. This can reduce the tax liability on your estate for your beneficiaries.
The practical side:
If you already have a will drafted, it is easy to amend it to include a donation to VAI. This can be drafted with a simple modification, known as a codicil, which your solicitor can draw up as a routine exercise.
If you are currently composing or considering writing a will, a straightforward wording can be inserted by your solicitor, leaving your preferred gift to:
The Sculptors’ Society of Ireland CLG trading as Visual Artists Ireland.
Company Registration Number: 126424
Charity Registration Number: CHY 9629
Charitable Status Number: 200224093
We will be happy to help your solicitor with any specific wording or details they may need.
Different Forms of Legacy
Pecuniary: A pecuniary gift is simply a gift of money.
Residuary: A residuary gift is a gift of what is left of your estate, known as the residuary estate or residue, after payment of debts, expenses and deduction of gifts you have made
Specific Bequest – this can be a specific item, property, investments, life assurance settlements etc. These can often be the most beneficial type of gift as their value tends to increase over a person’s lifetime.
VAI also recommends taking considered advice on how your artist’s estate, works both finished and unfinished, as well as your studio contents are managed after your death. Putting this clearly in writing will ensure that your executors will know what plans you have made and/or how you wish your work to be treated in the future.