Leaving A Legacy
Why are gifts so important to charities?
It’s a common myth that only the rich and famous leave money to charity when they die. This couldn’t be any further from the truth. The reality is without the gifts left in Wills by people like you, many charities wouldn’t even exist.
Thankfully 74% of the UK population support charities and when asked, 35% of people say they’d happily leave a gift in their Will once family and friends had been provided for. The problem is only 7% actually do.
That’s why, if we all leave some money in our Wills for charity as well as our family, we can make a huge difference. In fact, just a 4% change in behaviour would generate an additional £1 billion for good causes in the UK every year.
Types of Legacy
If you wish to leave a legacy to CHAPS, you first have to decide the type of legacy you wish to leave.
This can be a specific legacy, a pecuniary legacy or a residuary bequest.
It is helpful if bequests are made for the general charitable purposes of the charity as this means your gift can be spent where it is most needed at the time it is received.
- A specific legacy consists of a specific item of personal property.
- A pecuniary legacy consists of a specified sum of money.
- A residuary bequest is the residue of your Estate, or a share of the residue, after your debts have been settled and any legacies you leave to other people have been paid.
A residuary bequest is generally of the greatest benefit to our charity as its value increases in line with inflation.
Adding to your existing Will
If you have already made your Will, a bequest to our charity may be added to it by way of a Codicil.
The right Will for you
There are a number of ways that you can write a Will, but put simply, the options available are:
Write it yourself
While it’s possible to write your own Will, you need to be careful that you don’t miss out something vital, as leaving out certain details could make your Will invalid. So, it is strongly recommended to get it checked by a legal professional.
Use a local solicitor or Will writer
There are many providers available and a list of these organisations can be found by using the Law Society link at the bottom of the page. By getting your Will professionally written, you are ensuring that everything is covered and arranged as you would like it to be.
Leaving us a gift in your Will is a great way to support our work to help future generations of men lead longer, happier and healthier lives.