A Gift in your Will
Make a Will and leave a Gift in your Will
A Will is vital if you wish to be certain as to who will benefit from your money and other possessions when you die.
Without a Will the law provides as to whom gets what and this may not reflect your real wishes. For example, some people incorrectly assume that on their death everything they own will automatically go to their partner. However, this is not invariably the case and making a Will guarantees your wishes will be met.
In addition, a Will allows you to specify funeral arrangements and to ensure those that you care about, especially children, are provided for and it will give you the opportunity to appoint a guardian for your children.
Having your Will professionally written may also help you to reduce Inheritance Tax.
The absence of a Will can cause a great deal of anxiety and worry for your loved ones at the distressing and difficult time of your death. Everyone over 18 is entitled to make a will, so for the sake of the people and charities your care about, it is important you have a valid Will.
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A charitable legacy is when you leave money to a charity in your Will.
Anyone can do this, and you can decide to leave a fixed amount, or whatever money is left once the other gifts in you Will have been given out. Leaving a gift in your Will to Beams should give you profound satisfaction in knowing that your support will live on into the future, but can also make the burden of inheritance tax on your estate lighter. Trusts also allow you to provide for your children in a secure way; minimising the risk of financial abuse whilst maximising receipt of state-funded benefits.
However you choose to remember us in your Will, and whatever size your legacy may be, you can be sure it will really be appreciated.
Types of Legacy
There are different types of legacies to consider. The main ones are:
Part, or all of your estate after debts, funeral costs and Pecuniary gifts are paid.
A specific sum, which can be index-linked to safeguard its future value, otherwise the value of a pecuniary gift will decrease over time as the cost of living increases.
A particular item to be used or sold by the beneficiary.
If you are worried about providing for your family but don’t want to turn your back on your favourite charity, ask your advisor or solicitor about a reversionary legacy. This allows you to leave assets to named individuals, such as a disabled child, for their lifetime while deciding who should benefit after they have passed away.
Make a Will Clinics
We hosted clinics in 2018 and they proved to be very popular. We intend to host clinics again in early 2020 so please keep a look out for dates.