| Leaving a legacy - Frequently asked questions |
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Quick Links: What are the different types of Legacy? I already have a Will - how can I add Target Tuberculosis to my Will? What information do I need to include? I can only leave a small legacy - is it worthwhile? What if my circumstance change?
Many people believe that writing a will is complicated, but in fact it’s relatively straight forward. However, when writing or updating your will you should always seek professional advice. Thankfully it is easy and inexpensive to have a Will drafted by a properly qualified professional. We are a member of “Remember A Charity” and as such you can use their online "Find an advisor" search to find a Solicitor or Will writer close to you who can help. You can also click here to use their other online resources and advice on Will making.
You can also contact you the Law society on 0870 606 2555 or visit http://www.lawsociety.org.uk/choosingandusing/findasolicitor.law for more advice. What are the different types of legacy? The two main types of legacies that people leave are: residuary and pecuniary. A residuary legacy (a share of your estate) is when a person leaves a percentage of their estate to a charity. This means that, however much your estate is ultimately worth, you give a percentage of that to your chosen charity, after ensuring your loved ones are provided for. Suggested wording for your solicitor if you wish to include a residuary legacy to Target Tuberculosis in your Will: "I give all/a share of (please state fraction/percentage) of the residue of my estate absolutely to Target Tuberculosis of Refuge House, 49-50 North Street, Brighton. BN1 1RH. Registered Charity Number 1098752, to be applied by Target Tuberculosis for its charitable purposes, and I declare that the receipt of the Treasurer or other proper officer of Target Tuberculosis shall be a full and sufficient discharge for the said legacy." A pecuniary legacy (a specific sum) is a set sum of money. These that tends to decrease in value over time because of inflation. However, it is possible to index-link a pecuniary legacy, to ensure that the legacy maintains its intended value. Suggested wording for your solicitor if you wish to include a pecuniary legacy to Target Tuberculosis in your Will: "I give the sum of £x (amount in figures or amount in words) to Target Tuberculosis of Refuge House, 49-50 North Street, Brighton. BN1 1RH. Registered Charity Number 1098752, for its general charitable purposes and I declare that the receipt of the Treasurer or other proper officer of Target Tuberculosis shall be a full and sufficient discharge for the said legacy" You can use the Charitable Gift Calculator on the Remember A Charity website to help you calculate what you think you may be able to leave to Target Tuberculosis. I already have a will – how can I add Target Tuberculosis to my Will? If you already have a will it is simple to add to it and leave a legacy to Target Tuberculosis. This is done by getting your solicitor to add a codicil to you Will. This states any changes you wish to make, and is easily made by a solicitor. Adding a codicil to your existing Will may be a simple way for you to leave a legacy to Target Tuberculosis. It is important that you do this through a solicitor as any amendments you make yourself may invalidate the Will. Please see the examples above for suggested wording for your Solicitor. What information do I need to include about Target Tuberculosis?
You must put in our full name, address and charity number as stated below:
Target Tuberculosis Refuge House 49-50 North Street Brighton BN1 1RH Registered charity in England and Wales, No. 1098752
I can only leave a small legacy –is it worthwhile?
Any legacy you leave to us will help us save more people from this devastating disease in the future. A small gift can make a very real difference.
What if my circumstances change?
You can easily change your Will at anytime, and its important to review you Will regularly – at least once every 5years. Your family circumstances may chance, as may Tax laws so regular reviewing is important.
Inheritance Tax is the Tax paid on your estate when you die, as well as on some assets you may have given away during your lifetime. Under current legislation, if the estate you leave behind is less than the ‘nil-rate’ band there will be no Inheritance Tax to pay, assuming that you made no gifts in the seven years before your death. However if your estate is worth more than the ‘nil-rate’ band Inheritance Tax will be payable on anything above this. There are many exceptions from this including gifts to a spouse or charity. For all the latest information and for more details please visit the Inland Revenue website http://www.hmrc.gov.uk/inheritancetax/
Legacies are vital to our very survival, a fact that most of our supporters don’t realise. To raise some much needed awareness, we’ve joined forces with Remember A Charity, the largest consortium of its kind in the UK working to promote legacy giving.
With 35%* of people saying they would consider including a gift to charity after providing for their family and friends in their Will, and only 7%* doing so, it is vital that we raise awareness around this issue. We are proud to be working with Remember A Charity to make this happen.
For more information visit http://www.rememberacharity.org.uk/
If you would like to know more about the different type of legacy you could leave to Target TB, or how to update an existing Will, please contact Heather Rayment, Fundraiser, on This e-mail address is being protected from spambots. You need JavaScript enabled to view it or call her direct on 01273 827070
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