How to leave WBCT a gift in your Will
If you’ve decided to leave WBCT a gift in your Will – thank you! Legacy donations are so important to us and your gift will help us continue restoring the Wilts & Berks Canal.
There are a few steps you’ll need to take to change your Will to include your gift to WBCT.
Know your options for leaving a gift in your Will
There are two main types of gift you can leave WBCT in your Will. Whichever you choose is up to you – we would recommend discussing this with your solicitor.
- A percentage of your estate (residuary legacy). You can choose to leave WBCT a certain percentage of your estate in your Will. This means that WBCT will receive a donation once the value of all your money, property and possessions has been calculated. This can be taken off the value of your estate before Inheritance Tax is calculated. Alternatively, if you choose to leave more than 10% of your estate to us, your Inheritance Tax rate will be reduced.
- A fixed donation (pecuniary legacy). Alternatively, you can choose to leave a fixed donation to WBCT in your Will. This is usually a fixed amount of money or a certain item. We will receive this when your solicitor or executor carry out your Will.
Changing your Will
In order to include a gift to WBCT in your Will, you will need to update it. This can be done in a few steps.
- Find a solicitor. If you haven’t already got one, find a solicitor as they will be able to help you with your Will. You don't need to use a solicitor to write a will but It is generally advisable to use a solicitor or to have a solicitor check a will you have drawn up to make sure it will have the effect you want.
- Work on the wording. When it comes to the wording, you need to be very specific to make sure your wishes are carried out accurately. We recommend the following wordings:
Wording to include part or all of your estate (residuary legacy): I GIVE (percentage --%) of the residue of my estate after payment of funeral and testamentary expenses and debts to Wilts & Berks Canal Trust, Dauntsey Lock Canal Centre, Dauntsey Lock, Chippenham, SN15 4HD. Registered charity no. 299595.
Wording to include a fixed sum of money (pecuniary legacy): I GIVE absolutely and free of all tax the sum of (amount in words and numbers £XXX) to Wilts & Berks Canal Trust, Dauntsey Lock Canal Centre, Dauntsey Lock, Chippenham, SN15 4HD. Registered charity no. 299595.
- Register your Will. You don't need to register a will in the UK but it can help ensure that your wishes are followed.
There are a few ways to make an amend to your Will to include your gift to WBCT.
- Visit your solicitor. You can visit your solicitor in order to include a gift in your Will. You may incur a small cost – ask your solicitor first.
- Write a codicil. This allows you to make amendments to an existing Will. It will need to be signed and witnesses in the same way as your Will. It is important that this is then kept with your original Will so it doesn’t get lost. Adding a codicil may incur a charge if you use a solicitor but you can create a codicil yourself.
- Write a new Will. Sometimes if you are making a number of changes to a will it is more cost effective to write a new one.
Below are some links to tools and information that may help you when you’re leaving a gift to WBCT in your Will:
- Find a solicitor: http://solicitors.lawsociety.org.uk/?Pro=False
- Register your Will: https://www.nationalwillregister.co.uk/willregister/willregister.aspx
- Government advice on making a Will: https://www.gov.uk/make-will/