Leaving money to a charity is a wonderful gift
Many people have a charity close to their heart. By leaving a legacy to Pets As Therapy you can help to ensure that our cause you care about is able to continue to do good work. Without gifts and donations our Charity would not be able to fully function.
Your Will is personal, and deciding what you’d like to leave is the first step. You might choose to leave a specific amount of money, or a proportion of your estate, once friends and family have been looked after. You could even choose to leave a particular item, such as jewellery or shares.
Making a Will is straight forward. Before you visit a solicitor, it’s worth putting together a list of your assets (what you own) and liabilities (what you owe), so you can work out what your estate is worth. This simple checklist is a good starting point and could save you time and money at the solicitors.
Types of legacy
Legacies can be separated into three categories:
A fixed sum of money (Pecuniary)
This may seem like a simple option but bear in mind that the effects of inflation could mean that the true value of this gift could become less than you intended. To plan for this, either update your will regularly or link your legacy amount with inflation.
A percentage of the net value of the estate (Residuary)
A residuary legacy means you can leave a set proportion of your estate to charity after other beneficiaries are taken care of.
Individual possessions (Specific)
This could be anything, but typically land, property or shares.
If you’re not sure about what kind of gift you would like to give, talk to your solicitor who will be able to advise you further.
If you have already made a will but now want to leave a legacy to a charity, you can make an addition or change it without rewriting your current will. This addition is called a codicil and a solicitor can advise how to add this to an existing will.