Leaving a Legacy
Gifts in wills are vital to the survival of many charities. Research shows that 35% of British people say they would consider including a gift to charity after providing for family and friends in their will, but only 7% do so. Just a 4% increase would raise a further £1 billion for good causes every year.
Making or updating a will is easier than you may think. By making a will you can be sure that all you care about, including the causes that matter to you most, are looked after.
Leaving a legacy to Lennox simply involves adding a short paragraph (clause) to your will. We suggest that you always use a qualified solicitor to assist you with this.
FAQsWhat information do I need to include?
The most important information to include are our name, address and registered charity number: Lennox Children's Cancer Fund 57 Mawney Road Romford Essex RM7 7HL Registered charity in England and Wales (1011325) How do I leave a legacy? Leaving a legacy to Lennox simply involves adding a short paragraph (clause) to your will. We suggest that you always use a qualified solicitor to assist you with this. Can I add Lennox to my existing will? If you already have a will, it is important that you keep it up to date. Luckily, making changes to an existing will is very straightforward. Your solicitor simply attaches a written instruction, called a codicil. This will need the signature of two independent witnesses. Click here to download a copy of our codicil form. *IMPORTANT - The codicil must be attached by your solicitor. Don't make changes yourself as you may inadvertently invalidate your will. Download a copy of our codicil form. If there are a number of changes you want to make, it may be better to make a new will, which your solicitor can help you with. How much should a leave in my legacy? A common misconception is that a legacy has to be an enormous sum of money. This is not the case. Of course family and friends must come first in your thoughts. But any legacy left in a will, no matter how small or how large, is important to the charities you support. What is the difference between residuary and pecuniary legacies? A residuary legacy is when a person leaves a percentage of their estate to a charity. This means that, however much your estate is ultimately worth, you ensure your loved ones are looked after as well as giving a gift to your chosen charity. It also means you don't have to keep altering your will as your circumstances change. A pecuniary legacy is a set sum of money. However, we advise that you consult your solicitor on what is best for your particular circumstances. What if my circumstances change? One of the great things about a legacy is that it allows you to take account of any changes that may happen to your personal circumstances. With a properly worded legacy, you can be safe in the knowledge that, should your circumstances change, your will automatically takes account of this. So you are able to look after yourself, friends and family while also knowing that you will still be doing something for your favourite charity if there is any money left over after you die. Will leaving a legacy affect my inheritance tax liability? Gifts to charities in your will are generally exempt from inheritance tax. If you leave a charitable gift it will be deducted from your estate before inheritance tax liability is calculated. I live abroad, is there anything I need to consider? If you own anything abroad we would always suggest that you obtain specialist advice from a solicitor. |
