Remembering Trinity Hospice in your Will
Some of our vital income comes from people leaving gifts to us in their Will. For instance, a gift left to Brian House Children’s Hospice helped secure much-needed funding for a Multisensory Room, where sound, lights, a waterbed and tactile toys stimulate our children’s senses, allowing them to play and learn in a safe and exciting environment.
Other gifts have helped us develop new projects and services. Our Linden Centre, which offers bereavement support, is built on land generously given to us in a legacy.
Just as important is the way that legacy gifts help pay our day to day running costs – things like our utilities bills, our insurances and all the regular expenses we incur.
We can tell you more about how to remember Trinity in your Will. If you would like to help in this way please contact us, in confidence, by calling 01253 359362.
Types of legacy gifts
There are several ways of leaving a legacy gift to Trinity. For example:
Pecuniary legacy – a bequest of a specified sum
A gift of a fixed sum of money. Remember, however, that the value of a pecuniary legacy will decrease over time due to rises in inflation and would probably need to be reviewed or linked to the Retail Price Index to ensure that it maintains its intended value.
Residuary legacy – a percentage of your estate
A residuary gifts allows you to leave either all or a percentage of your estate to Trinity, for example property, shares and bank accounts, after all other pecuniary gifts, debts, fees and other expenses have been paid.
Non-monetary legacy – a specific gift
You could leave a property, work of art, stocks and shares or other valuables as a bequest to Trinity.
Your solicitor can advise on which legacy best suits your needs.
Leaving a legacy – your questions
Who should write my Will?
You should use a solicitor when writing your Will. This helps to ensure your Will is legally correct and that all your wishes are followed.
What if I already have a Will?
No problem. Your solicitor can add Trinity to your Will with a written instruction called a codicil.
Do I have enough assets?
It’s a myth that you must be wealthy to leave a gift to a charity in your Will – nothing could be further from the truth! After taking care of family and friends, you’ll be amazed at how one final gift, no matter how big or small, can make a difference to patients and their families.
Can a gift to charity help me pay less tax?
The money and assets left in your estate may be subject to inheritance tax and it may be an advantage if your family and friends are left gifts below the tax threshold (which is currently £325,000), so they do not have to pay inheritance tax. The remainder of your estate can then be left as a gift to one or more charities, like Trinity Hospice.
If I have left you a gift, should I tell you?
It would be really helpful if you tell us that you have included a gift to Trinity in your Will. We know we don’t need to approach you again, and we can keep you updated on how your intended gift can help support the hospice.
If you want to leave a gift to Trinity Hospice, the following wording can be used when drafting your Will.
“I give all (or a ___ % share of) the residue of my estate to Trinity Hospice of Low Moor Road, Bispham, Blackpool, FY2 0BG, Registered Charity Number 511009, free of Inheritance Tax, for its general charitable purposes and I direct the receipt of the Treasurer for the time being or other duly authorised officer shall be a sufficient discharge to my [Executor(s)/Trustees].”
As this type of gift will lose value through inflation over the years, the wording allows for it to retain its real value by linking it to the Retail Prices Index.
Alternatively, revise your Will regularly to ensure your gift keeps the value you originally intended.
“I give to Trinity Hospice of Low Moor Road, Bispham, Blackpool, FY2 0BG, Registered Charity Number 511009, for its general charitable purposes the sum of money produced by dividing the sum of £___(words and figures) by the index figure in the Index of Retail Prices (‘the Index’) for the month in which this will is executed and (having made allowances for any re-basing of the Index which may have happened in the meantime) multiplying it by the Index figure in the Index for the month in which my death occurs, and I direct the receipt of the Treasurer for the time being or other duly authorised officer shall be a sufficient discharge to my [Executor(s)/Trustees].”
If you want to leave a gift of property or another specific item of value, or if you live in Scotland, please speak to your solicitor, as the laws are slightly different.
How do I find out more?
Please call our Fundraising team on 01253 359362 or email firstname.lastname@example.org