Questions about leaving a Gift in your Will

We have put together a list of common questions people tend to ask us about legacies and Wills. We hope this will be helpful. if you need any further help, we strongly advise you to contact your solicitor.

Why should I make a Will?

Having an up to date Will is the only way to ensure that your estate is left to the people you wish to benefit after your lifetime. It will also make things easier for family and friends when the time comes. That’s why it is important to review your Will from time to time, making sure it reflects changes in your family situation, personal circumstances, and even tax legislation.

Do I need a solicitor?

We would always recommend that you use a solicitor as a professionally drawn up Will is very important. Should you decide to remember the CCT in your Will, we suggest that you ask your solicitor to make the gift out to:

The Board of Trustees of The Churches Conservation Trust, 1 West Smithfield, London EC1A 9EE (registered charity number 258612) for its general purposes.

Are there different types of legacy?

Yes. There are three main types of legacy:

• Residuary legacy: A gift of the remainder or part of the remainder of your estate, once all other gifts have been made.
• Pecuniary legacy: A gift for a fixed amount of money.
• Specific legacy: A gift of personal possessions such as land, buildings, furniture, jewellery or antiques.

What if I already have a Will?

If you already have a Will and want to include a legacy to the CCT, you can amend it by going to your solicitor and asking for a written instruction called a codicil to be attached. Don’t make changes yourself as you may inadvertently invalidate your Will. If you want to make a number of changes, it may be best to make a new Will.

Will I be taxed?

Legacies to charities are generally exempt from Inheritance Tax so gifts to the CCT and other charitable organisations are tax efficient. Some people even use charity legacies as a way of remaining within the Inheritance Tax threshold and thereby avoiding the tax altogether. This threshold is subject to change but currently lies at £325,000 for the tax year 2010-11. For more information please consult your professional advisor.

What if I don’t have much to leave?

It is a common misconception that a legacy gift has to be a large sum. However large or small your gift, every legacy donation is valuable to us and gratefully received.

If at any point you would like clarification on a legacy related issue or further advice on making a provision for the CCT in your Will, please do not hesitate to contact us directly on 020 7213 0660 or email legacies@tcct.org.uk.