LEAVING A GIFT IN A WILL FOR THE FUTURE
When planning for the future we all want to make sure our loved ones are looked after. At Community Network we understand that your nearest and dearest come first.
Many people also consider leaving a gift in their will to a charity that they believe makes a difference to others. This means they keep helping others long after they have gone. A gift in a will, however big or small will make a real difference to the people we support, connecting them up.
WHY MAKE A WILL
A will is a legal document that ensures that your loved ones are provided for in the way you want after you are gone. If you die without a will the government can decide how your property is distributed and those close to you may not automatically inherit.
Inheritance tax is paid if what you leave in your will adds up to more than a limit set by the government. The limit is £325,000 for the tax year 2014/15. For property you leave above this amount inheritance tax is paid at 40%. For each £1 over £325,000 60p will go to the beneficiary and 40p to the government.
BUT charities are exempt from Inheritance tax so any gift you leave to Community Network will be given to us tax-free.
HOW TO MAKE A WILL
At Community Network we advise that you seek professional help in making a will. A solicitor can help you and draw up the legal document.
The Law Society can help you to find a solicitor in your area. The website also gives advice about making a will.
REMEMBERING COMMUNITY NETWORK IN YOUR WILL
If you wish to remember Community Network in your will you need to give your solicitor the following information:
Archway Resource Centre
1B Waterlow Road
Registered charity 1000011
There are 3 different ways you can include Community Network in your will.
- By leaving a fixed amount of money. This is called a “pecuniary legacy”.
- Including a gift of the residue or part of the residue of an estate known as a “residuary legacy”.
- Or a specific item such as a piece of jewellery or a painting for example.
CHANGING AN EXISTING WILL
If you have an existing will and want to change it to leave a gift to Community Network you can complete this downloadable Codicil Form and leave it with your will. Alternatively you may wish to visit a solicitor to make the amendments.
We know that some of the jargon used to talk about making a will can be confusing so we’ve put together a short glossary to help. A jargon crunching A to Z of the language of Wills
If you have decided to leave a gift in your will to Community Network we would like to say thank you for your generosity. You can contact us at firstname.lastname@example.org and we promise to keep your details confidential.
If you are interested in leaving a gift in will to Community Network and want to talk it through please feel free to give Robert a call on 020 7923 5250 or email email@example.com