Is it easy to change my Will?
Yes! If you want to leave a gift for Y Care International, this could simply be done through a codicil to your Will, or could include it in an update to your whole Will.
Do I need to use a solicitor?
No, but using a solicitor or other qualified person is recommended. It is easy to make a mistake that invalidates your Will. Having a solicitor draw up a straightforward Will need not be expensive, and mirror Wills can save couples money should this apply.
What sort of gift can I leave?
Any gift to Y Care International will make a huge difference. There are two ways to remember Y Care International in your Will.
The first thing is by leaving a residuary legacy, which is a share or percentage of the residue of your estate once other gifts and payments have been made. This means your gift keeps pace with inflation. If you would like to leave a residuary legacy, we suggest this wording:
“I give, free of inheritance, [the whole / a [%] share] of my residuary estate to Y Care International of 25 Marylebone Road, London, NW1 5JR, UK, (Registered Charity 1109789) absolutely to be used for its work in relation to its general charitable purposes and I declare that the receipt of Y Care International’s treasurer or other appropriate executive officer shall be sufficient discharge of my executors’ duty”
The second way to remember Y Care International is by leaving a pecuniary legacy or cash sum. We suggest the following wording.
“I give, free of inheritance, to Y Care International of 25 Marylebone Road, London, NW1 5JR, UK (Registered Charity Number 1109789) the sum of [amount in words] [£ amount in figures] absolutely to be used for its work in relation to its general charitable purposes and I declare that the receipt of Y Care International’s treasurer or other appropriate executive officer shall be sufficient discharge of my executors’ duty.”
Any of these can also be made dependent upon another event, called a contingency bequest. For example, you might leave a portion of your estate to a sibling, unless they should die before you, in which case that part of your estate would then be given to Y Care International.
I have already made my Will. How can I change it to include Y Care International?
You can make a change in your Will either by rewriting it or by drafting a codicil.
How will inheritance tax affect my gift to Y Care International?
Inheritance tax is not payable on gifts to registered charities, so if inheritance tax is due on an estate, your gift will reduce the overall amount of tax paid. If you leave 10 percent of your estate to charity, the rate of inheritance tax applied is reduced from 40 percent to 36 percent. Find out more about inheritance tax rules from HM Revenue and Customs at www.hmrc.gov.uk or through your solicitor or financial adviser.
Can I choose how my gift will be used?
We appreciate that many of our supports have a personal link to certain parts of the world or types of work. While we always do what we can to honour specific wishes, we recommend making your gift for Y Care International to use where the need is greatest at the time. If there is an area of work you would particularly like to support with your gift, if possible please contact us to discuss it before including it in your Will.
Is there a minimum amount I have to give?
No. People sometimes imagine that you must be wealthy to leave a legacy and that bequests need to be large. At Y Care International, we know that small can be powerful. Whatever you can give will be well used to make a significant difference in the fight against poverty and is much appreciated.
I wrote a gift into my will when you were called MRDF. Do I need to change my will?
No, our legal name – The Methodist Relief and Development Fund – remains unchanged, as does our registered charity number, so there is no need to change your Will. When making a new Will, for clarity it is better to refer to Y Care International, Methodist relief and development.
What about funeral collections?
Some of our supporters leave instructions with their Will for a collection to be made at their funeral in aid of Y Care International, or for donations rather than flowers. We are always grateful when people do this because it not only raises money, but it raises awareness of Y Care International’s work too. Contact us to find out more about how we can help this to happen.
Thank you for your support. If you have any further questions, please email us or call us on 020 7549 3150.