Leaving a Gift in a Will
Making a will
It's important to make a will. Dying without one, or âintestateâ, means your estate (your money, possessions and property) might not go to the people you want it to.
In theory you can write your own will but it's best to get a solicitor to do it.
Leaving a legacy
In most cases, the first priority will be family and friends. However, many people also leave gifts to charities, known as legacies, in their wills.
To leave a legacy to Supporting Dalit Children you will need to know the Charity Registration number and contact details. These can be found at the bottom of this page. There is no special form that needs to be filled in, just include a simple sentence stating the type of legacy you would like to leave and the amount.
It would be helpful,l but not obligatory, to let us know that you've left a donation in your will. This will help us plan our finances and also give us an opportunity to thank you for your gift.
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.
As well as helping more Dalit children to have a life-changing opportunity of an excellent education, legacies also have financial benefits for your friends and family.
If you leave a gift to a charity in your will, its value will be deducted from your estate before inheritance tax (IHT) is worked out. In some cases leaving a legacy may help bring the total value of your estate below the taxable threshold (£325,000 for 2013-14).
It is possible for the inheritance tax rate to be reduced to 36% if 10% or more of an estate is left to charity. Taking advantage of this reduced rate would require advice from a solicitor.
Individual gifts made up to seven years before your death may also qualify for exemption.
Contact details for Supporting Dalit Children
| Supporting Dalit Children, registered in the UK, Charity Registration No. 1125102 Telephone
|AddressSupporting Dalit Children