Leave a gift in your will
A lasting legacy
No one wants to think about dying but we know that one day (and hopefully a long time from now and after a long fulfilled life) it will happen to us all. What is good to think about is how you can make sure that your money, property and possessions go to the people and causes you care about after you die.
Why should I make a will?
If you die without a will the law decides who gets what and how much of your estate. By having a will in place you can clearly define who should receive any property, personal items and money you have and prevent unnecessary distress at an already difficult time for your family and friends.
How do I make a will?
There are two ways you can make a will. The first is through a solicitor. You can find solicitors through local media, internet searches, the Law Society or Society of Trust and Estate Practitioners. It is recommended that you check any solicitor used is a member of the Society of Trust and Estate Practitioners.
The other way to write a will is online, and University Hospitals Birmingham Charity partners with Bequeathed to offer you the ability to arrange your will online and for free.
If, as you follow the process your will becomes more complicated than the standard, you will be directed to a local law firm to you who will offer you a quote for advice before you proceed.
Considering charity in your will?
Leaving a gift in your will is a wonderful act of selflessness and University Hospitals Birmingham Charity is extremely grateful to those donors who consider supporting the charity in this way. Leaving a gift in your will allows you to play a supporting role in helping patients, staff and families long into the future.
The money that the charity receives from the wills of donors is used according to their wishes and can help fund research, projects or buy equipment.
You can specify how the Charity should use your gift but it is best to discuss your wishes with the Charity first rather than simply leave instruction in the will. This ensures the gift can be directed to the area you want to support. For example; a cutting edge piece of equipment required by the hospital today may have been superseded or made obsolete by another treatment in future years.
Are there any tax benefits?
Gifts to charity are exempt of Inheritance Tax which is charged at 40% of the value of an estate in excess of £325k. They can also reducethe amount of Inheritance Tax on the rest of your estate. If you give at least 10% of your taxable estate to charity the Inheritance Tax rate for the rest of your estate drops from 40% to 36%.
I have a will, can I change it?
If you already have a will but wish to add a gift to a charity there is no need to change the whole will. You simply need to fill in a short form called a Codicil which is signed by you in the presence of two witnesses. Your solicitor will be able to help you with this. Do not cross anything out or make changes to your actual will as this may make it invalid.
I’d like to make a will and leave a gift to the hospital charity within it, what do I do next?
Before you proceed with the online will writing site bequeathed or visit your solicitor it may be useful to consider what type of gift you would like to leave.
Pecuniary Bequest A specific sum of money
Specific Bequest A particular item of value, such as jewellery or an antique.
Residuary Bequest A share of what is left of your estate after expenses and all other wishes have been met.
Conditional Bequest A gift which is passed to charity if the person for whom it was intended dies before you.
How your gifts can make a difference
Over the years, University Hospitals Birmingham Charity has been able to fund a range of life saving equipment, research projects and more thanks to the gifts that we receive in wills.
Gifts in wills enabled us to purchase the TomoTherapy machine which provides cutting edge radiotherapy treatment topatients like Stine Giles. Stine was one of the first patients in the UK to receive treatment on the TomoTherapy machine when she was diagnosed with brain tumours in 2012.
Gifts in wills have also helped fund our state of the art incubators at Heartlands and Good Hope Hospitals. Used every day, they provide the best care possible to tiny, vulnerable babies in need of round-the-clock care.
Help change lives for patients across our hospitals into the future.
If you would like to discuss leaving a gift in your will to UHB Charity then please get in touch. You can speak to one of our team in confidence.
0121 371 4852