A Gift that can transform lives
A Will is your opportunity to remember the people and causes close to your heart.
Once you have considered your loved ones, you might consider leaving a gift to charity. Your gift could be money, an item of property or a share of your estate.
Emma Cartwright, Legacy Officer for the Hospices answers questions on leaving a gift in your Will.
What exactly is a “legacy”?
A legacy is a gift in your Will. Any gift in your Will can make a big impact on the running or development of our hospices. Some people choose to leave us a percentage of their Estate. Other supporters prefer to leave Woking and Sam Beare Hospices a residue of their Estate, after they have considered their family and friends.
A “legacy” sounds like it has to be a large amount of money. Is there a minimum amount I have to leave?
No. Nor is there a maximum!
But I already have a Will and don’t want to go to the expense of drawing up a new one.
If you already have an existing Will and simply want to include a gift to Woking and Sam Beare Hospices, you can write a Codicil.
Can I leave a gift to just Woking Hospice OR Sam Beare Hospice if only one of them is relevant to me?
Yes. You simply need to state which of our two Hospices you wish to benefit from your gift.
Do I need to tell Woking and Sam Beare Hospices that I intend to leave them a Gift in my Will?
You can tell us that you’ve left a Gift in your Will if you want to, and we’d love to hear – but you don’t need to and we won’t keep asking. If you do choose to tell us, we will give you the choice about how we talk to you in the future about our work in the Hospices and in the local community.
Am I correct that there are tax benefits to leaving a gift in my Will?
Yes. Leaving a gift in your Will can be a highly tax effective way of supporting a charity. All gifts to charity are exempt from Inheritance Tax and can thus reduce the value of your assets and so cut the amount of Inheritance Tax payable from your estate (or even avoid it altogether!). And you don't have to be rich to qualify for inheritance tax! It is payable at a rate of 40% on the total value of all your assets - including your home, car, investments and the value of your life insurance policy and/or pension – over the IHT threshold (currently £325,000 for the 2001-12 tax year). Your solicitor will be able to advise you on the latest tax threshold and any liabilities.
Woking and Sam Beare Hospices recognize that a legacy gift may well be the single largest donation a supporter will ever make to support our work and you will want to give this careful thought.
If you have any further questions or would like to discuss, please contact Emma Cartwright on the details below:
Emma Cartwright, Legacy Officer e.cartwright@wsbhospices.co.uk 01483 881750
Woking Hospice Gift in Will leaflet
Sam Beare Hospice Gift in Will leaflet