Legacies

Have you thought about leaving a gift in your Will to the Neuro Therapy Centre? Charitable legacies are vital to the future of many small charities, including our Centre.

If you do wish to remember the Neuro Therapy Centre in your Will, it is vital to ensure that the money is actually received by us so that it can be used to secure the future of the Centre.

How you can help the Neuro Therapy Centre in your Will

We recommend that you choose a Solicitor who is a member of the Society of Trusts and Estates Practitioners (“STEP”) – he or she will have passed specialist exams to demonstrate expertise in Wills and Trusts.

To ensure that the work of the Neuro Therpay Centre can continue, you can include one of the following options in your Will:-

A cash gift, also known as a pecuniary legacy

This is a specific sum gifted as a clause in your Will, for example:-

"I GIVE the sum of One Thousand Pounds (£1,000) to the Neuro Therapy Centre (RCN: 700904) of Unit C4 Brymau 1 Estate River Lane Saltney Chester CH4 8RG for its general charitable purposes."

As there may be many years between you signing your will and dying, you could add to this clause by index linking the gift, so it increases in line with inflation, for that period. Your Solicitor will include this if you ask for this option.

Specific Legacy – a particular item is given

A gift of an item of value can be included, for example:-

"I GIVE my diamond ring to the Neuro Therapy Centre Chester (RCN: 700904) of Unit C4 Brymau 1 Estate River Lane Saltney Near Chester CH4 8RG."

As long as you still own the item at the time of your death, it hasn’t already been given away, lost or stolen, your Executors will give this to the Neuro Therapy Centre. If you have more than one diamond ring then your Solicitor will discuss, with you, how best to describe it, so that there are no queries after your death.

Part or all of your main estate – sometimes called your residuary estate or your residue

As part of the process of administering your estate the nominated executors will collect in your assets (which may include the sale of your house). They will pay your bills, tax (if any) and other legacies. What remains (residuary estate/residue) is then paid to your beneficiaries.  This is usually the largest part of your estate.

You may wish to give the whole of your estate to the Neuro Therapy Centre, for example:-

"My Trustees shall hold my residue UPON TRUST for the Neuro Therapy Centre (RCN: 700904) of Unit C4 Brymau 1 Estate River Lane Saltney Near Chester CH4 8RG."

This is only in a trust during the process of the administration and the cash value, or the assets, pass to the charity to enable their work to continue. Alternatively, you could ask your Solicitor to divide your residue between the Neuro Therapy Centre and other beneficiaries.

Any gift to a charity is free of Inheritance Tax.

What else do I need to do?

By taking specialist legal advice, you will be able to ensure that these important clauses are incorporated into your Will, your intended beneficiaries receive their funds and your Solicitor may be able to give you some other suggestions on how to structure your Will.

You may also want to consider executing Lasting Powers of Attorney as part of your future planning, your solicitor can discuss this with you.