Leave Your Boat
The joy of time out on the water is something which is hard for non-sailors to understand. The breeze on your face, feeling the boat move beneath your feet, the camaraderie - these are the things that make sailing special. Now you can let others experience this same joy by leaving your boat or yacht to Sail 4 Cancer in your Will.
By leaving your boat to Sail 4 Cancer, you will be able to enjoy your boat as you get older, secure in the knowledge that when you die it will not become a millstone to your family. Even if your boat is moored overseas, it will immediately cease to be a cost or liability and will quickly become a valued asset to others.
Where the value of an estate is over the Inheritance Tax (IHT) threshold, people can remove the value of their boat from their estate when they die.
Inheritance Tax Benefits include:
- No Inheritance Tax (IHT) is paid on the gifts of assets to charity
- If the value of a boat takes an estate over the IHT threshold, by leaving it to charity the estate will be relieved of any IHT
- The value of a charitable gift is deducted from estate valuation
- If the boat represents 10% or more of the value of the estate, leaving it as a legacy will reduce the tax on the taxable estate from 40% to 36%
Through our partnerships with marine laywers Hill Dickinson, we would be glad to help with your Inheritance Tax planning. For further information on Sail 4 Cancer's legacy request a call back from a member of our team to find out more.
NB: Due to the costs of maintaining boats and accessibility and location limitations Sail 4 Cancer sometimes elects to sell gifts of assets. We then use the proceeds to charter in specialist vessels which are particularly suited to providing sailing days for cancer patients.
