Please Remember The Willow Trust in your Will
We are truly grateful for the compassion of anyone who leaves The Willow Trust a gift in their Will, whatever its value. Today’s legacy gifts will ensure that The Willow Trust remains afloat providing much needed days of respite in otherwise difficult lives.
Leaving a legacy to The Willow Trust is also a wonderful way of passing on the maximum benefits of your estate as it will be entirely free of inheritance tax. Under current legislation when you make a bequest to a registered charity such as The Willow Trust, the amount of your gift is deducted from the value of your estate before any tax liability is calculated. As it is completely free of inheritance tax, it can reduce the total tax liability on your estate.
How to Leave a Legacy
We recommend that you use a solicitor to have your Will drafted or updated (a codicil). The cost is relatively modest and well worth the outlay as a professionally written Will means that your wishes will be honoured, thereby minimising the potential for disagreements.
The Type of Gift
Including a gift or legacy in your Will is very straightforward. First you choose what type of gift you would like to leave:
- A Monetary or Cash legacy: a specific sum of money, also known as a pecuniary gift
- A Specific Gift: an item of value such as a piece of jewellery, shares, or a piece of land or property
- Residue: The sum that is left when all debts, charges and gifts have been deducted
- Residuary Legacy: After the specific requests, taxes and costs have been accounted for, a percentage of your estate is left to one or more individuals or charities. As it is a residuary legacy it ensures that your loved ones are taken care of first and avoids changing your Will as circumstances change. This is a particularly popular way to leave a gift to a charity. If you do not specify how you would like the residue to be disposed of, the Government will decide where it is to be paid to.
Liaising with your Solicitor
It will be helpful for your solicitor to know that the full name of the charity is, The Willow Trust and the Registered Charity Number is 328386.
Thank you so much for considering The Willow Trust in your Will. If you would like to let us know so that we can thank you – please get in touch.