Here are some straightforward answers to some of the questions you may have about leaving a gift in your Will.
Your Will is one of the most important documents you’ll ever sign. It’s important to make sure you get this right. Here are some of the answers to the most frequently asked questions.
Why should I write a Will?
Making a Will ensures your wishes and values are carried out after you die, and makes sure the people and causes you care about are looked after.
If you die without a valid Will your estate will be distributed according to the laws of intestacy. It could take years for the people you care about to receive any money, and they may not receive what you wanted them to. This could be very distressing for the people you leave behind.
How much does it cost to write a Will?
A simple Will doesn’t need to cost much, and it’s an investment in your family’s future. A simple Will can cost as little as £100.
A professional solicitor can help you consider all eventualities and allow for different scenarios. You can find a list of qualified solicitors in your local area through the Law Society.
How often should I change my Will?
You can make and change your Will as often as you like, and should change your Will at any time your circumstances change. One example would be if you re-marry or if you have a new grandchild.
Is it true that a gift to charity can mean less Inheritance tax?
Yes, this can be the case. Gifts to charity are tax free and these gifts are not included when your estate is valued for inheritance tax purposes. There are additional benefits when the value of your gifts to charities is more than 10% of the estate. We strongly recommend that you speak to a solicitor for any advice on tax issues.
What information should I include to remember VSO in my Will?
See here for the full wording to include VSO in your Will to help us continue the fight against poverty. Thank you so much for considering to make this important gift.
Do I have to tell you I’ve left a gift in my Will to VSO?
You don’t have to tell us if you’ve chosen to leave a gift to VSO, but if you do, we will give you the choice about how we talk to you in the future about our work fighting poverty. You can read our promise to you should you choose to remember VSO in your Will. If you would like to tell us please let us know.
To find out more please contact Nicola
Phone: 020 8780 7523
Post: Nicola, VSO, 100 London Road, Kingston, KT2 6QJ