Gifts In Wills FAQ’s

 

If you are interested in including Cransley Hospice Trust in your will, but seeking some further support and guidance, please read on...

Why do I need to make a will?

Making a will ensures that everything will happen according to your wishes after your death, which can relieve a lot of the stress and anxiety for those you leave behind at an already difficult time.

Without a will, a court of Law will appoint administrators to manage the distribution of your estate. By making a will, you ensure your loved ones are looked after, items of sentimental value reach the intended beneficiaries and your final wishes are realised, whether this be via a charitable gift or otherwise.

 

How can I decide what type of gift I should leave you in my will?

Your solicitor will be able to advise you on the type of gift that would be best suited to your individual circumstances. The most common types of gifts are:

• A defined sum of money that you agree will be left to the charity. (This is known as a pecuniary gift).
• Agreeing to donate a percentage of your worth to the charity. (This is known as a residuary gift). This can be anywhere from 1% to 100% of your remaining ‘estate,’ after allowing for family and friends to be taken care of. This is useful to many people as you will not need to keep amending your will if your assets and circumstances change. Even just 1% will enable us to provide compassionate care for future generations who require the support of our hospice.

 

What information should I include in my will to ensure you receive my gift?

Please include our full name, our address and our registered charity number as listed below to ensure your kind gift will reach us.

Cransley Hospice Trust, St Mary’s Hospital, London Road, Kettering. NN15 7PW.

Charity No: 1151018

 

Can I add Cransley Hospice Trust to my existing will?

Yes! And you’ll be pleased to hear this is a very straightforward process.

Traditionally, a solicitor would use a codicil – which is a written instruction attached to your existing will. Depending on the complexity of your will, it may be advisable for your solicitor to draft a new will for you.

If you have drafted your own will, please be cautious to ensure that you do not inadvertently invalidate your will.

 

Will leaving a gift in my will affect my inheritance tax liability?

Inheritance tax can be complicated. We recommend visiting www.gov.uk to read about the latest rates and guidelines, as well as discussing implications with a solicitor.

Charitable gifts are usually deducted from your estate before inheritance tax liability is calculated, thereby avoiding any taxation on the value of the gift you chose to donate.

 

I'm ready to make a will! What's the easiest way for me to do this?

**This information is being updated and will be available from mid-January 2024**

I need more advice! What should I do?

The staff at Cransley Hospice Trust are not able to give you legal advice or guidance regarding leaving us a gift in your will. However, if you wish to have an informal discussion with us, please contact Rachel Herrick, Director of Income Generation and Communications on 03000 274040 and she will be happy to answer any questions you may have.