Making a gift in your Will
Your guide to your options and what you can do next
Do you have a Will already?
Or are you about to make one?
If you are thinking about leaving some money to a charity, please consider The People’s Mosquito – a registered charity No:1165903 See us on the Charity Commission website here:
While there is no obligation to leave a gift, many supporters choose to remember us and our goals in their Will. Legacy gifts, large or small, make a lasting difference by helping us.
When drafting a new Will, it is important that people first think about their spouse, family and friends.
There are two ways to leave a gift to a charity in your Will:
a Residuary gift or a Cash gift.
A gift in your Will can be any size. £50 is welcome, so is £50,000. 1% of your estate would be wonderful, or any other percentage which helps ensure the future of the charity in building and maintaining a De Havilland Mosquito here in the UK.
It’s only natural that you would want your spouse or partner to benefit from the whole of your estate during their lifetime. If you are happy to remember The People’s Mosquito in your Will, you can ask your professional adviser to draft a Reversionary legacy, which would only come to the charity after your spouse or partner has subsequently died.
If you are intending to make a gift to the charity in your Will, or indeed have already done so, we thank you.
And if you wish to notify us, as some people do, please email legacies@peoplesmosquito.org.uk
Thank you for any financial consideration – it is much appreciated.
Please take time to read the notes below and do seek professional advice if you wish to proceed further.
We would like to emphasise that it is really important to take professional advice when preparing your Will. Ideally, you should use a solicitor who might also help you avoid inheritance tax if it applies. If you do not have one, find one online via www.lawsociety.org.uk/find-a-solicitor
All gifts to charity are wholly exempt from inheritance tax. The value of your estate for tax assessment is reduced by the value of your gift, so that the tax can be reduced or eliminated.
Also, recent legislation has added incentives for estates to leave at least 10% to charities. You can also cut the Inheritance Tax rate on the rest of your estate from 40% to 36%, if you leave at least 10% of your ‘net estate’ to a charity.
To make everything easier for those who survive you, it is worth taking time to consider:
- Have you appointed an executor of your Will?
- Guardianship of children or dependant relatives.
- Have you made provision for your pets?
- Whether you would prefer to be buried or cremated.
- Whether you would like flowers from everyone, just the family – or to seek donations to your favoured charitable causes.
If the latter, then we would be honoured to be amongst them.