By supporting CAPS in this way, you will join an extremely important group of people without whom CAPS would not be what it is today.
As CAPS are dependent on voluntary donations to maintain and expand our programme of work, legacies are becoming an increasingly important part of our income and we are extremely grateful for any donations made in this way.
Below is a brief guideline advising what you will need to consider before making or updating your Will. We thank you for your interest in supporting CAPS work with a gift in your Will.
Making a Will is the only way to be sure that your wishes are followed after you are gone. Once you have a Will, it’s important to keep it up to date. Major changes to your marital, family or financial circumstances should be reflected in your will.
An Executor is charged with carrying out the instructions in your Will. Ideally, you would appoint two. They must be people you can trust, such as family friends or professional advisers.
Make a list of people, causes and organisations you want to remember and to consider the types of gifts you may want to leave.
It’s surprising how the value of your home and possessions add up. Create a checklist to give you an idea of the value of your estate – this will save time with your Solicitor.
If you wish to leave money to a charity, consider whether you would prefer to leave a residuary gift (what is left over after other gifts and debts are paid), a cash gift or a specific possession.
CAPS recommends that you use a Solicitor when making or updating your Will to ensure that all legal procedures are followed. The process needn’t be lengthy or expensive, and you shouldn’t be afraid to shop around or ask for a quote. After your initial meeting with a Solicitor you should arrange a follow up appointment to check that your Will has been drafted according to your wishes and to have it witnessed and signed.
Inheritance tax is paid if the value of your estate exceeds the threshold set by the Government – currently £325,000. Inheritance tax of 40% is paid on the amount that exceeds this threshold. So, out of every £1 over the threshold your beneficiaries will only keep 60p, 40p will go to the Government. Gifts to charities are normally exempt from Inheritance tax. If you leave a charitable gift it will be deducted from your estate before Inheritance Tax liability is calculated.
Letting us know if you plan to leave a gift to CAPS in your Will allows us to help you ensure that all details are correct.
Legacies form an extremely important part of our income and we’d love to help you get things right.
If you’d like more information or if you are thinking of including CAPS in your Will, please contact email@example.com