Leave a gift to be
proud of
Legacies are so important to Brain Tumour UK and our charity's future is dependent upon them. You can make a real difference and leave your mark on the world, by remembering us in your Will.
If you decide to leave a legacy to Brain Tumour UK , it is enormously helpful if you can let us know. It gives us the opportunity to thank you properly and keep you informed about how gifts in Wills are helping us to continue our vital work. Any information that you give us will, of course, be treated in the strictest confidence and you are under no binding commitment or obligation .
What Is A Legacy?
A legacy is a gift you choose to leave in your will. There are several ways you can choose to leave this gift:
| Pecuniary Legacy | - | this is a fixed sum of money, and can also be stocks and shares. |
| Specific Legacy | - | this is a particular object or piece of property. |
| Residuary Legacy | - | this is a gift of whatever may be left after all your bequests, taxes, debts, and expenses have been paid. |
| Contingent Legacy | - | this is a legacy which depends on an event occurring (or not occurring) before it is effective (for instance a gift to charity dependent on someone else not surviving you). |
Your Will could make a real difference!
Many of us keep putting it off - only one person in 3 in the UK actually makes a Will.
Why should I make a Will?
Leaving a legacy to Brain Tumour UK is one very good reason for making or changing
your Will, as we really need to have funds that we can rely on for the future.
Brain Tumour UK is currently a small charity, with boundless vision, yet limited
resources. Each legacy we receive will expand our research programme and get information
and support out to those who need it most - and when they need it.
However, there are many other reasons:
If you die without leaving a Will, all that you own will not necessarily go to the people that you wish. The only way to prevent this is by having an up-to-date Will. In this way you can protect your loved ones and make sure that they are provided for. At the same time it will relieve the anxiety for your loved ones when they are settling your affairs.
Your Will should take account of any changes in your circumstances and therefore you need to regularly review it at least every two years. You may have just married, become a parent or a grandparent or recently retired. For smaller changes to an existing Will, it is not always necessary to rewrite the whole Will; instead a simple statement called a codicil is usually all that is needed.
The way that an existing Will is written may not best reflect changes in the value of your assets. It is important to remember the effects of inflation. Over time this will reduce the value of a specific cash sum. Therefore you may wish to revise the wording of your Will to leave percentages rather than fixed sums as cash gifts.
Depending on the value of your possessions you may be liable for Inheritance Tax and by updating your Will with a gift to a charity you could avoid this.
Inheritance Tax
All estates over £275,000, and this includes your home, are subject to inheritance
tax unless your estate is going to a surviving husband or wife. If you are single then
everything over £275,000 is subject to inheritance tax at the rate of 40%.
The cost of housing has risen substantially, particularly in the South East, and your home would have to bear tax if worth more than £275,000! For example a house worth £400,000 would have to pay £50,000 in tax. There is a simple way to avoid this, however. If part, or all, of the sale proceeds went to charity that part would save tax and be exempt.
Making a Will gives you a great peace of mind, making sure your wishes are carried out.
Without a will your property may go to people you do not want to have it. We strongly
recommend seeing a solicitor who can draw up your will and also advise you about Inheritance
Tax and any tax exemptions.
How Do I Make A Will?
Write a list of everything you own and its value.
Share your estate amongst those you wish to benefit, naming any specific items or sums you wish to leave to a particular friend or relative.
Parents should specify who they want as guardians for their children. Doing this helps the court at what can be a very sad time.
Consider whether you would like to support Brain Tumour UK ,
Decide who you would like as an Executor to your will. An Executor is someone you have named in your will to make sure your wishes and instructions are carried out when you die.
Additions to Your Existing Will
If you have already made your will, you should update it especially if you have
married, re-married or divorced since making it. You may also have new friends and
relatives whom you wish to remember. This would be an ideal opportunity to leave a
gift to Brain Tumour UK . You can very easily add to your existing will. This is
called a Codicil and we recommend that this be done under the guidance of a solicitor.
Using a solicitor
It is generally advisable to have even a simple Will drawn up by a solicitor,
as problems can arise after your death, because there are particular words and
phrases which may have a special meaning in law. There are also detailed rules for
signing and witnessing Wills.
Choosing a solicitor
Making a Will isn't as expensive as most people think but because it is a legal
document we strongly advise you to use a solicitor. Doing so will ensure that
your Will is legally correct and that all your wishes can be carried out. If
you don't already have a solicitor and don't know whom you might approach then
contact STEP (Society of Trust and Estate Practitioners) who represent solicitors
with experience of handling Wills.
- Society of Trust and Estate Practitioners Worldwide
26 Grosvenor Gardens
London
SW1W 0GT
Tel: +44 (0)207 8384890
Fax: +44 (0)207 8384886
They can provide you with a list of members in your area. Your local Citizens Advice Bureau or The Law Society can also help you.
It is advisable before seeing your solicitor to have a clear idea of the value of your estate and how you wish it to be divided. This should save time and the charges for drawing up the Will would therefore not be so much.
Keep your will safe
You can ask your solicitor or your bank (usually for a fee) to do this. Alternatively for a
charge of approximately £15, you can request to keep it at:
- The Record Keepers Dept.,
Principal Registry of the Family Division,
1st Avenue House, High Holborn,
London WC1V 6NP
Tel: (020) 7947 7022
What is the best way to leave a legacy to charity?
A residuary legacy is the easiest way to leave money to Brain Tumour UK in your Will.
You can leave a share of what is left of your estate once your other wishes have been
carried out. The advantage of this kind of legacy is that, unlike the other types, it
keeps in line with inflation and holds its value over time.
The following are examples of standard wording for leaving a legacy to Brain Tumour UK .
Wording for a residuary bequest
"I give my residuary estate to Brain Tumour UK of PO Box 27108 , Edinburgh EH10 7WS (registered charity number 1068338) for its charitable purposes, and I declare that the receipt of the Treasurer or other authorised officer will be sufficient discharge to my executor/s."
Wording for a pecuniary bequest
"I give to Brain Tumour UK of PO Box 27108 , Edinburgh EH10 7WS (registered charity number 1068338) the sum of £ ..(free of all taxes) for its charitable purposes, and I declare that the receipt of the Treasurer or authorised officer will be sufficient discharge to my executor/s."
How to change your Will and leave a legacy to Brain Tumour UK
A simple and low cost way of adding Brain Tumour UK to your Will is to ask your solicitor to
prepare a codicil. This is a separate instruction that is kept with your existing Will. A codicil
is really only suitable for relatively small changes to your Will. For more complex changes it is
best to make a new Will and to revoke the old one so there is no confusion.
Please note that many areas of the law relating to Wills are different in Scotland . Your solicitor will be able to advise you fully on these.
After you have included Brain Tumour UK in your will, send the form to:
Brain Tumour UK
PO Box 27108,
Edinburgh,
EH10 7WS
