Leaving a legacy in your Will

A legacy or bequest is the term used to describe a gift in a Will.

Considering how important it is to take care of one's loved ones and how vital gifts in Wills are to charites, it is astonishing that only three out of ten people in the United Kingdom make a Will. Yet provided a solicitor is consulted, making a Will is actually very straightforward and not as expensive as many people think.

You can leave a legacy in your Will to cure arthritis

If you have not made a Will, your survivors - family and friends - will experience difficulties. Your estate will be divided by law and not by your wishes. If you have no family, everything you have will go to the state.

Drafting a Will is not difficult. A visit to a solicitor will ensure that your beneficiaries will inherit according to your wishes. A solicitor's fee for drafting a Will is not expensive.

As arc receives no government funding whatsoever it is totally dependent on donations and legacies from ther public. When making a Will please consider including a legacy to arc. As a registered charity, arc is exempt from tax, so your bequest would be realised in full.

If you have already made a Will and you would like to add a legacy to arc your solicitor can easily draft an addendum, called a Codicil. Again, this is a simple inexpensive process.

If you require advice on your Will or help with a legacy please telephone us on 0870 850 5000 or e-mail our legacy department.

How to remember arc in your Will

A bequest to arc in your Will would be realised in full. As a charity, we are exempt from Capital Gains Tax and charitable bequests are not subject to Inheritance Tax.

There are several different types of bequest that can be made:

A PECUNIARY LEGACY is the gift of a fixed sum of money. It can be indexed linked to protect its value.

WORDING FOR A PECUNIARY LEGACY "I give, devise and bequeath to the Arthritis Research Campaign of Copeman House, St Mary's Court, St Mary's Gate, Chesterfield, Derbyshire, S41 7TD the sum of £ ( pounds) for its general charitable purpose and I declare that the receipt of the Secretary or other proper officer shall be a good and sufficient discharge therefor."

A RESIDUARY GIFT is the remainder of your estate, or a percentage of it, after all bequests have been made and any debts, taxes and expenses paid.

WORDING FOR A RESIDUARY BEQUEST "Subject as aforesaid I give, devise and bequeath to the Arthritis Research Campaign of Copeman House, St Mary's Court, St Mary's Gate, Chesterfield, Derbyshire, S41 7TD, the whole [or a ____________________________ share (e.g. one quarter or 25% )] of my residuary estate for its general charitable purpose and I declare that the receipt of the Secretary or other proper officer shall be a good and sufficient discharge therefor."

A SPECIFIC BEQUEST is the gift of a particular item such as jewellery or a painting.

A CONDITIONAL BEQUEST states what should happen if either the beneficiary were to die before you, or where a gift will only come to the final recipient after a beneficiary's death. It is a common way of donating money to charity. We strongly suggest that for specific, conditional and other forms of bequest the advice of a solicitor is sought. If you have already made a Will it is very easy to add a charitable legacy to it. Your solicitor will help you draw up a simple amendment (or Codicil). Many people use the opportunity for a general review of their Will anyway.

A REVISIONARY BEQUEST (Liferant) is where a legacy is left to a relative or friend (life tenant) for them to benefit from during their lifetime. This can be in the form of a house, or the interest on a trust fund (life interest). After the life tenant's death, the life interest is then passed on as a legacy to the charity:

Example: A house is left to a relative/friend to inhabit during their lifetime. Upon the life tenant's death, the proceeds from the sale of the house go to the charity (or is shared with other beneficiary(s)).

Example: The residue of an estate is left in a trust fund and the interest is payable to the life tenant until death. Upon death, the capital (or a percentage of the capital) passes to the charity as in a residuary gift.