A gift in your will
Once you have provided for your loved ones in your will, you may also want to consider leaving a gift to a cause that is important to you to ensure that your beliefs live on.
A gift in your will to Seamab will enable us to pay for equipment, activities and holidays for, and to develop our work with, the children.
Types of Legacy
There are a few different kinds of gift you can leave in your will. The most common are described below:
Residuary Bequest
A gift of the remainder of the estate after all other bequests have been made and debts cleared is called a residuary bequest.
Pecuniary Bequest
A gift of a fixed sum of money in your will is called a pecuniary bequest. The value of pecuniary legacies will decrease over time, as the cost of living increases.
Specific Bequests
A particular named item left as a gift in your will is known as a specific bequest - for example, antiques, jewellery, land or buildings.
Contingent Bequest
A gift in your will that depends upon the occurrence of an event which may or may not happen is known legally as a contingent bequest. An example is a bequest to a charity which applies only if other beneficiaries named in the will die before the testator (person who made the will).
Amending an existing will
If you would like to amend your existing will to include Seamab, please download and complete a codicil form and return it to your solicitor.
The form includes our full address and charity number which you will need to give to your solicitor.
Informing us about your will
If you have decided to leave a gift to Seamab in your will, please let us know by contacting us. Our legacy pledgers are very special to us as we receive much smaller amounts in legacies than other organisations do and we would like to have the opportunity to thank you.
Inheritance tax
After your death, your estate is subject to inheritance tax if it's value is above £325,000. In the latest budget, the Chancellor announced a cut in the rate of inheritance tax from 40 per cent to 36 per cent from April 2012 for those who left at least 10 per cent of their estate to a good cause.
Calculating your financial worth
If you would like to estimate your current legacy value and see if you are eligible for inheritance tax, please visit the Remember a Charity website.
Don't have a solicitor?
Visit the Will Site for an online will writing service.
Further information
If you would like to receive further information about leaving a legacy please contact us and we will send you more details about writing a will and leaving a gift to charity.
