When writing your will, your loved ones will come first in your thoughts. But that doesn’t mean that you can’t leave a gift to a cause close to your heart.
Leaving a legacy to Healing the Wounds can help us to make a vital difference to our mentally wounded Servicemen and woman, veterans and emergency services. Whatever the size of your gift, it means we can plan our future and continue to support our brave heroes.
Making a will and keeping it up to date is important. It is a good idea to use a qualified solicitor to help you draw up your will ensuring it is valid and that your wishes are carried out. If you are leaving money to charity, make it clear exactly which charity you want to receive your gift.
Residuary Legacy- A percentage of the value of your estate once other gifts have been distributed. This means that however much your estate is worth, your loved ones will be looked after as well as leaving a gift to the charity of your choice. This is an effective way to give to your chosen cause as you don’t have to alter your will as circumstances change and your gift will retain its value over time.
Pecuniary Legacy- A fixed amount of money. If you have family or others who you wish to receive the bulk of your estate, you may wish to leave the charity a pecuniary legacy. The effects of inflation however, can mean that the value of your gift can become less than you intend. It is advisable to consult your solicitor on what is best for your circumstances.
Specific Legacy- The gift of a specific item such as a personal possessions, land, buildings or investments such as shares.
For more information about leaving a gift to charity in your will visit www.hmrc.gov.uk/individuals/giving/will.htm
