How to leave a gift in your Will

A gift in your Will is described as a legacy. To ensure you can take care of those that matter to you and that your wishes are followed, it is essential that you have a Will, yet only three in ten people in the UK make a Will. Providing you consult a solicitor, making a Will should be an easy, straightforward process and needn't be expensive.

Leaving a gift to NRAS in your Will

If you have not made a Will, your surviving family may experience difficulties and your estate will be divided according to the law, not your wishes. If you have no family, everything will go to the state.

When making your Will please consider leaving a gift (often referred to as a bequest) to NRAS. We are a registered charity, which means your gift is exempt from tax so whatever you leave, it will be realised in full by the charity. As a charity we are exempt from capital gains tax and any gifts made to charity are not subject to inheritance tax. If you have already made a Will and would like to add a gift to NRAS your solicitor can draft an amendment, called a codicil, which is a simple, inexpensive process.

To download a PDF of our legacy leaflet please click hereor call 01628 501546 and a member of the team will be happy to send a copy of the leaflet to you.

There are several ways in which a gift can be made:

A fixed sum of money, called a Pecuniary Legacy. This can be index linked to protect its value.

Wording for a Pecuniary Legacy
'I give, devise and bequeath to the National Rheumatoid Arthritis Society of Unit B4 Westacott Business Centre, Westacott Way, Maidenhead, Berks SL6 3RT the sum of £        (pounds) for its general charitable purpose and I declare that the receipt of the secretary or other proper officer shall be a good and sufficient discharge therefore.'

The remainder of your estate, or a percentage of it, after all bequests have been made and any debts, taxes and expenses paid, called a Residuary Gift.

Wording for a Residuary Bequest
'Subject as aforesaid I give, devise and bequeath to the National Rheumatoid Arthritis Society of Unit B4 Westacott Business Centre, Westacott Way, Maidenhead, Berks SL6 3RT, the whole [or a ........................................... share (eg one half or 50%)] of my residuary estate for its general charitable purpose and I declare that the receipt of the secretary of other proper officer shall be a good and sufficient discharge therefore.'

A gift of a particular item, such as jewellery, a painting or a piece of furniture, called a Specific Request.

When beneficiary dies before you or the gift is only to be received after the final recipient's death, called a Conditional Bequest.  This is a very common way of donating money to charity. For specific, conditional and other forms of bequest we do strongly suggest the advice of a solicitor is sought.

A legacy which is left to a relative or friend to benefit from during their lifetime (life tenant), with the gift then being passed on to the charity after the life tenant's death, called a Revisionary Bequest. This can be in the form of a house or interest on a trust fund for example.
For example: a house is left to a relative/friend to live in during their lifetime. Upon their death the proceeds of the sale of the house will go to the charity and/or other beneficiaries as stated in the Will.

You can visit the Law Societywebsite for further information or to find a solicitor in your area.

Inheritance Tax

Gifts to charity in your Will are exempt from Inheritance Tax. The current threshold is £325,000 for each individual and £650,000 for married couples or civil partners. For more information on inheritance tax visit the HMRC website for current information and tax thresholds.

If you would like to talk to us about leaving a gift in your Will please call on 01628 501546 or email Tracey.