Ready to write your Will? Download our Will-writing worksheet.
Why make a Will?
Making a Will is the best way to ensure that your family and friends have what they need when you can no longer be there for them. It is the only way to ensure that your money and assets will be shared according to your wishes after your death. When people make their Wills many take the opportunity to make a gift to charity.
Why leave a gift to charity?
Recent changes in law mean that if your net estate is worth over £325,000 when you die, Inheritance Tax will be due. Since 6 April 2012, however, if you leave 10% of your estate to charity, the tax due may be paid at a reduced rate of 36% instead of 40%. In addition, any residual part of a private pension at death is subject to tax at 55%. However, payments made from the pension ‘pot’ to a registered charity are exempt. If this is applicable to you,and you wish to leave a gift to charity, it might be more tax-efficient to do so out of residual pension funds rather than from your estate. You could reduce Inheritance Tax liability to 40% rather than 55%.
Why leave a gift to Rennie Grove?
1 in 3 people are affected by hospice care. It’s a sad fact that our nurses will probably have helped someone close to you – or will do so in the future. By leaving a gift in your Will to Rennie Grove Hospice Care, you’ll ensure that other local families facing life-limiting illness can access the care they need and the choice they deserve.
How do I go about making a Will?
Making a Will is not difficult and should not be expensive. We’ve put together four simple steps you could follow. If you’d like to plan in more detail before you meet with a solicitor, then download our Will-writing worksheet.
1. How much? Work out the approximate value of your estate: the total sum of all your property, money and possessions.
2. Who? Think about who you’d like to include in your Will: family, friends, charities or good causes. Also consider who you might like to appoint as your executors: the people who’ll ensure your Will is carried out as requested.
3. Which way? If you’d like to make a gift in your Will, decide how you’d like to do this. You can choose between:
- residuary – leaving all, or a proportion of your estate once all your other wishes have been carried out and any debts paid. This type of bequest is the most beneficial to us as it holds its value over time
- pecuniary – leaving a fixed sum of money
- specific – leaving property or another specific possession, e.g. jewellery, paintings, antiques
4. What to say? Your solicitor will make sure that the wording of your Will is accurate and legally correct. For more detailed advice on suggested wording for gifts in Wills, download our Will-writing worksheet.
How do I make sure my gift will go to Rennie Grove?
All you need to do is give your solicitor our charity name, registered office address and registered charity number:
- Rennie Grove Hospice Care, Grove House,Waverley Road, St Albans, Herts AL3 5QX
- Registered Charity No. 1140386
Remember – you can choose which part of the service your gift will fund. Just ask your solicitor to include this detail in your Will. The address and charity number remain the same.
If you'd like confidential advice about leaving a gift in your Will to Rennie Grove Hospice Care, please contact us using the details below.