Remember our children in your Will
- Why gifts in wills are important
- How to include Pied Piper in your Will
- How easy is it to include Pied Piper?
- Your questions answered
- Let us know your intention
Once you have looked after family and friends, leaving a gift in your Will to Pied Piper is a thoughtful and lasting way to support sick and disabled children in the future.
None of us want children to be disadvantaged because they are sick or disabled. Today our supporters are helping us to fund equipment and support that can enhance, even save, young lives. Gifts in Wills are vital to creating a future where the very best care and equipment is on hand to help children just when they need it.
Compared to many charities, Pied Piper is fairly small. So every gift that is left to us - however modest it may seem - can add up to make a significant difference.
Don't have a Will? - please read more here - How easy is it to include Pied Piper?
Why gifts in wills are important
Every gift matters to Pied Piper and gifts in Wills are especially vital. Last year, these gifts accounted for around one third of all the money we raised. So you could help to make a real difference to the world you leave behind by remembering our children in your Will.
Although we may not receive your gift for many years, it is really helpful if we know that we can plan ahead with confidence. It gives us the opportunity to say thank you, because a gift in your Will really is a very special way of helping Pied Piper. You can tell us about your intended gift here - Let us know your intention
How to include Pied Piper in your Will
We understand that your family and friends will come first. Once you're happy that they will be looked after in your Will, there are a number of ways you could include Pied Piper, to help make sure that our vital work in Gloucestershire can continue well into the future.
Here are the most common types of gifts and suggested wording:
- Residuary gift
You can leave a share of your estate to Pied Piper, once you've looked after family and friends. A bonus is that the gift keeps its value over time, in spite of inflation.
How to word this in your Will
I bequeath to The Pied Piper of Gloucestershire Royal Hospital, Great Western Road, Gloucester GL1 3NN (RCN 1011611) (examples...the whole/one half/three quarters/percentage) of my residuary estate for the general purposes of the Charity.
- Pecuniary gift - a cash sum
You choose exactly how much you wish to leave to Pied Piper with a specified sum in your Will.
How to word this in your Will
I bequeath to The Pied Piper of Gloucestershire Royal Hospital, Great Western Road, Gloucester GL1 3NN (RCN 1011611) the sum of £____ for the general purposes of the charity.
- Specific gift
You choose to leave a specific item in your Will like property, jewellery or shares. If this is the case, it would be a good idea to tell executors which items you intend to gift, so they can be set aside. This saves the item from being sold or lost during a house clearance or if you move into a care home.
How to word this in your Will
I bequeath to The Pied Piper of Gloucestershire Royal Hospital, Great Western Road, Gloucester GL1 3NN (RCN 1011611) (my eg property, shares, jewellery, furniture etc) for the general purposes of the charity.
- In the wording of a trust
A trust can be set up during your lifetime or by your Will to administer gifts for the benefit of a person, organisation or a charity like Pied Piper. The trustees you appoint (a number of individuals or a trust Company) hold the Trust assets and use them in accordance with your wishes for the benefit of the beneficiary.
You can set out that a sum left in a trust fund (when it ends) is given to Pied Piper or there maybe the discretion to benefit a charity. You could also set this out in the [deed of ] any trust you make in your lifetime or under the terms of your Will. Please speak to your solicitor about how this can be done.
Please be aware, the wording above is for guidance only - we can't give you legal advice. You should always contact a solicitor or legal professional when making or updating your Will.
How easy it is it to include Pied Piper?
If you have a will already it is easy. You can simply add your wish to your existing Will by adding what is called a codicil. This amends the terms of your Will without having to make a new one. You will need to talk to your solicitor or a legal professional to make sure it's done properly.
If you don't have a Will, there are two good reasons to make a Will for your own peace of mind:
- Making a Will ensures that everyone knows what you'd like to happen after you die - because it clearly sets out who you'd like to benefit such family, friends and good causes, like Pied Piper.
- Inheritance Tax legislation means that if you don't prepare properly more of your estate than necessary may go to the taxman. Read more about this on the government website - click here.
Writing a Will is a simple and inexpensive process, carried out by solicitors and legal professionals every day. You can read more about the importance of making a Will here - Your questions answered
When writing your Will it is easy and straightforward to include Pied Piper. Simply tell the professional drafting your Will that you would like to include Pied Piper - see more here - How to include Pied Piper in your Will
Your questions answered
Can I make my own will?
You could... but is it really worth the risk? Using a DIY will kit can be full of pitfalls, and errors are easy to make. It could cost your family a lot more to sort things out, than the cost of making a Will in the first place. The best advice is to use a professional who can ensure that everything is covered and worded properly.
What do I need to consider when writing my Will?
Making your Will is not solely about passing on your assets, you can also use it to include specific funeral arrangements. You may also want to appoint legal guardians to care for your children if you and your partner should die before they are 18. Another important consideration is the appointment of your executors. These are the people who will deal with your estate after your death and ideally they should be business-minded family, friends or professional advisers. Two is an ideal number - for instance, one family member and a professional.
What else can I include in my Will?
Passing on personal items like jewellery, paintings, antiques and family heirlooms can also be specified in a Will, as can any gifts you wish to leave to charity.
Are there tax advantages in writing a Will?
There may be depending on your individual circumstances. Under current legislation your estate is not taxed if its total value (including lifetime gifts made in the last 7 years) is less than the inheritance tax nil band (£325,000 in the tax year 2014-15). There are also exemptions such as the spouse exemption and the charity exemption. This means that any gift to charity is exempt. If a gift to charity covers more than 10% of your estate, if inheritance tax is payable, the rate is reduced from 40% to 36%.
What happens if my circumstances change?
Because you can never predict what will happen in life, family circumstances may change, as may the relevant taxation laws. So it is important to review your Will regularly, as least once every five years.
What is a trust?
A trust can be set up during your lifetime or by your Will to administer gifts for the benefit of a person, organisation or charity such as Pied Piper. The trustees you appoint (a number of individuals or a trust Company) hold the Trust assets and use them in accordance with your wishes for the benefit of the beneficiary. Even though a trust is one of the most flexible ways you can choose to give, it needs skills and expertise to create the right type of trust to match your particular needs. If you are considering setting up a trust please talk to a professional who can offer their specialist help and advice to create the right type of trust for you.
Let us know your intention
If you've decided to include Pied Piper in your Will, it would help us enormously if you could let us know using our Contact Form or by calling us on 0300 422 6119. We will treat this in the strictest confidence.
Do you have any further questions? Please get in touch and we can talk to you about the various options for leaving a gift in your Will to Pied Piper and the benefits to our charity this generous gift can have. Please use the Contact Form and we'll get back to you. Or call us on 0300 422 6119.