Leaving a legacy

Welcome

Thank you for considering to leave a gift to LIFE in your will.  Legacies make up one of the largest single sources of income for the charity, so people like you play a vital part in ensuring the continuation of our work in future.

Although 74% of the UK population supports charities, and 35% agreed that they'd happily leave a gift to a good cause in their will once family and friends had been provided for, only 7% actually do.

On a national level, just raising this figure from 7% to 11% would create an extra £1 billion for charities in the UK.

Thank you for considering to be part of this difference.

In the enclosed pages you will find some further facts and information about the sorts of things you might like to think about for when you are ready to start making your will.

If you have any further questions, or there is anything you'd like to discuss further once you've read through the information, please don't hesitate to get in touch.  You can contact Susan Murray, Head of Fundraising & Development on 01926 421 587 or via e-mail at susanmurray@lifecharity.org.uk

First Steps

It is easy and relatively inexpensive to have a will drafted by a properly qualified professional.  Solicitors who are members of The Law Society or will writers who are members of The Institute of Professional Will Writers will meet the necessary requirements.

When you select your will provider, check the professional you choose:

• has been trained and qualified in making wills
• has professional indemnity insurance of at least £2 million
• is a member of an organisation that has an independent complaints procedure

Home-made wills are not advisable, as you may miss out crucial details.  It's always worth taking professional advice for something this important.

Wills aren't solely about passing on your assets.  You can also include specific funeral arrangements, or appoint legal guardians should you and your partner die before your children are 18.

Provision can be made for the age that young beneficiaries can receive their share of the estate whilst you can provide for any beneficiaries with special needs, for example, with means-tested health provision or care provision.

Another important consideration is who you would like to deal with your estate in the event of your death.  These individuals can be family, friends or professionals.  Typically, three are chosen - two personal and one professional.

Tax Advantages

Under current legislation (correct to 5^th April 2010) if your estate is less than £325,000 your beneficiaries don't have to pay any Inheritance Tax.  Anything over that threshold effects a tax charge.  However, since October 2007, any unused Inheritance Tax threshold from a late spouse or civil partner can be transferred to their surviving spouse or partner when they die, increasing the threshold for the living partner.

Your will provider will have the most up-to-date information on current tax thresholds and so forth or you can visit the Inland Revenue website:  www.hmrc.gov.uk/inheritancetax

Type of Bequest

There are various different types of gifts that can be left in a will, the main ones being:

• Residuary: a gift made of the remainder of your estate after all other gifts have been handed out and debts paid off (set out either as a total of the remainder or a percentage)
• Pecuniary: a gift made of a fixed sum of money, although bear in mind that the value of a gift will decrease over time, as cost of living increases
• Specific: a particular named item left as a gift.  For example, a piece of jewellery or a painting

An LPA is a legal document that allows you to choose someone now that you trust to make decisions on your behalf about things such as your property, financial affairs or health welfare, at a time in the future when you no longer wish to make those decisions or may lack the mental capacity to make those decisions yourself.

An LPA can only be used after it is registered with the Office of Public Guardians.  There are two different types of LPA:

• a health & welfare LPA to deal with personal affairs
• a property and financial affairs LPA to deal with financial affairs
• The two LPAs are separate, and you can appoint different people for each area.  For further information speak to your will provider, or go to www.publicguardian.gov.uk

LIFE Details

To ensure your wishes are carried out, if you choose to leave money to support LIFE's work, you will need the following information:

Registered Charity Name: LIFE 2009

Registered Address: LIFE House, 1 Mill Street, Leamington Spa, Warwickshire, CV31 1ES

Registered Charity Number: 1128355 (England, Wales & Northern Ireland)

Registered Charity Number: SCO41329 (Scotland)

Thank you for considering to remember LIFE in your will.  Your gift will help us continue to save lives and transform futures by supporting pregnant women and young families through difficult times.[i]