Why should I make a Will?
While having a properly prepared Will is not a legal requirement, it is something we recommend you have for your loved ones’ peace of mind. Your Will is the only way for you to decide what happens to your property, money and personal possessions after you die. Making a Will is quicker and easier than you may think. Get in touch with your solicitor to find out more.
What type of gift can I leave to Health Poverty Action
There are three main gifts that can be left in a Will. A pecuniary legacy is a fixed amount of money. A specific legacy is a gift of a specific item, like personal possessions, land or shares. And a residuary legacy is a percentage or share of the balance of your estate once all other payments and gifts have been made. Many people prefer to give a residuary gift because it keeps in line with inflation and does not lose value over time.
Should I let Health Poverty Action know about my decision?
Your Will is private. It is your choice as to whether you choose to tell us that you left a gift to support our life saving research. However, if you do let us know, then we can do more to show you what your gift could achieve.
Can Health Poverty Action give me further information on how to leave a gift in my Will?
We are happy to chat through your options, but we advise you to use a qualified solicitor to amend an existing will or leave a legacy in a new will. They can talk you through the different types of gifts you can leave.
Are there any tax benefits to leaving a gift in my Will?
In the UK, Inheritance Tax is currently paid to the government at a rate of 40% if your estate is worth more than £325,000. However, the rate might be reduced to 36% if 10% or more of your estate is left to charity. Most gifts left to Health Poverty Action are exempt from Inheritance Tax because we are a charity. You can find out more by contacting HMRC or a solicitor.
What wording do I need to include to leave a gift to Health Poverty Action?
Suggested wording for a residuary gift: I give ____ per cent (___%) of the residue of my real and personal estate to Health Unlimited of Kemp House, 152 – 160 City Road, London EC1V 2NX (registered charity no. 290535) for its general charitable purposes. I further direct that the receipt of the Chief Executive or other proper officer of the said charity for the time being shall be a full and sufficient.
Suggested wording for a pecuniary or specific gift: I give the sum of £_____ (or the item specified) to Health Unlimited of Kemp House, 152 – 160 City Road, London EC1V 2NX (registered charity no. 290535) for its general charitable purposes. I further direct that the receipt of the Chief Executive or other proper officer of the said charity for the time being shall be a full and sufficient discharge for the said gift.