Leaving a Legacy
Leaving a Gift in your Will
What do you want to happen after you’ve gone? It’s one of life’s most difficult discussions and one that is not often spoken about. What happens to your estate after your death can make a huge difference to not just your family and friends but also to many charities.
Statistics show that only 40% of adults in the UK have made a will and while many of us donate regularly to a charity only 7% do so through leaving a legacy. In many cases that’s because people believe they have to be wealthy if they are going to make any kind of difference. That’s just not true: every single penny and pound has the potential to do good and no gift will ever be considered too small. Remember, think of your family first and foremost, but then if you feel there is any opportunity to remember RICE as well then a legacy can make a real difference to us. It could pay for a whole research project or a carer’s course or the salary of a Research Nurse.
There are a number of options when it comes to making your Will, but we always recommend seeking professional help to ensure your Will is valid. This will give you peace of mind that your wishes will be carried out the way you intended. There are various ways of leaving a gift:
- A pecuniary legacy which is a specified cash sum
- A residual legacy which is what is left of your estate once all expenses and other legacies have been deducted.
- A specific gift such as a piece of jewellery
Updating an existing Will
It is important to review your Will regularly to ensure it reflects your current wishes. Generally you should review your Will every time a 'life-event' happens.
For example when:
- You marry
- You have a child or grandchild
- There is a death in your family
- There is a change in your financial circumstances
- There are major changes in the types or rates of taxation
- You are going to live abroad
- You are moving to shared accommodation
- You separate or divorce from your spouse or partner
- A change in the health of either you or your partner
Updating your Will is a simple task and small changes or additions can be made easily using a Codicil. This is an instruction that is added to your existing Will but we recommend you seek professional help to make any changes and ensure it is legally binding.
Your solicitor or Will writer will also need the following information:
Registered name: RICE – The Research Institute for the Care of Older People
Registered Office: The RICE Centre, Building 8, Royal United Hospital, BAYH, BA1 3NG
Charity Number: 1042559
Remembering a charity in your Will is a great way to still do good even after you are no longer here. Remember, think of your family first and foremost, but then if you feel there is any opportunity to remember RICE as well, we would be very grateful.
If you would like to know more about how to leave a legacy then contact us on firstname.lastname@example.org or 01225 476420, or write to Legacy Information at the RICE Centre.
End of Life Care
The NHS has an informative website which covers many end of life issues, including how and where you want to be cared for and financial considerations. Click on the link below to be taken to their web page: