Leaving a legacy to Trafford CIL is a loving and enduring gift and will help us to continue our work supporting disabled people in Trafford for future generations. We will very carefully consider how to use each and very bequest that we receive to ensure that the special gifts entrusted to our care are invested wisely to benefit this and future generations of disabled people.

The information on this page is not exhaustive and we recommend taking independent professional advice when writing your will.

http://solicitors.lawsociety.org.uk/

http://www.lawsociety.org.uk/for-the-public/common-legal-issues/making-a-will/


Things you will need to make your will.

You need a clear and detailed statement of your estate. A list of your assets (what you own) and a list of your liabilities (what you owe) are necessary. Once you have made an assessment of their value, you will see whether you are liable for inheritance tax.

You should compile a list of the names and addresses of those you wish to benefit from your will.

You will need to nominate an Executor to see that your wishes are carried out after your death. It is usual to appoint more than one. A professional person, your solicitor or your bank will act as an Executor but they will charge a fee.

You must sign your will in the presence of two witnesses. They must not be beneficiaries of the will or related to them.

Professional advice can be valuable and solicitors will tell you what their services cost.

http://www.lawsociety.org.uk/for-the-public/common-legal-issues/making-a-will/

Once you have made a will, keep it in a safe place. It is good practice to leave your will with a solicitor or your bank and keep a photocopy at your own home.

With good planning inheritance tax can be reduced or avoided.

The first part of any estate is free from inheritance tax. At present, anything given to a spouse or to a registered charity is free of inheritance tax. The starting level and rate of inheritance tax can vary with any Budget; your solicitor or financial advisor can advise you of the current position. Information is also available on the internet.

If the value of your estate means that you will incur inheritance tax, you should seek professional advice as it is possible, with good planning of your lifetime giving and your will, to reduce or avoid the tax.


The different types of charitable bequest.

Residuary Legacy

The ‘residue’ of an estate is what is left after all the other bequests, taxes, and debts have been paid. If you decide to leave all or part of the residue of your estate to Trafford CIL you should take your solicitor’s advice about how best to write your will. This will ensure that the tax exemptions for charities are applied to the best advantage of your estate as a whole. The following wording could be used:

“I give to the Trafford Centre for Independent Living, Marshall House, 2 Park Avenue, Sale, Greater Manchester, M33 6HE (Registered Charity No. 1145800)………………….of the residue of my estate for its general purposes.”

 

Pecuniary Legacy

A ‘pecuniary’ legacy specifies a fixed sum of money. It is important to bear in mind that the value of a pecuniary gift will decrease over time as the cost of living rises.

“I give to the Trafford Centre for Independent Living, Marshall House, 2 Park Avenue, Sale, Greater Manchester, M33 6HE (Registered Charity No. 1145800) the sum of £……………. for its general purposes.”

 

Specific Legacy

A ‘specific’ legacy relates to a particular item such as stocks and shares, proceeds of a life insurance policy, property or land, jewellery and the like.

“I give to the Trafford Centre for Independent Living, Marshall House, 2 Park Avenue, Sale, Greater Manchester, M33 6HE (Registered Charity No. 1145800 )my……………… for its general purposes.”

 

If you wish your legacy to be used for a specific part of Trafford Centre for Independent Living’s work, we suggest adding the following words after “purposes” – “and I request that the same be used to further the work of the Trafford Centre for Independent Living in………………” (including the specific type of action to be supported). In cases of this kind, please contact Trafford CIL before finalising your will to ensure that your wishes can be met.

 

Endowments

If you wish to leave a capital sum, the interest of which is to be used to support part of Trafford CIL’s work, please contact us for further discussion.


Changing your existing will

With a codicil

If you would like to change an existing will to add a gift to Trafford CIL, you can use a codicil (a simple form obtained from a solicitor). This should be kept with your will but not attached to it. Like a will, a codicil needs to be signed and witnessed.

A codicil is fine for adding a simple bequest to your existing will but if the gift is more complicated, such as leaving the residue of your estate, you should seek legal advice.