Leaving a gift to LifeBuilder in your will...
Death. Right we have got the big scary word out of the way but what happens with your house/shares/savings/pet goldfish after you die? What happens to all of those things you have worked so hard to be able to purchase throughout your life? Well sadly you can’t take them with you – however you can chose who gets them when you die and even how they are used.
But what do you need to do? The first thing you need to do is write a will. You can get a “do it at home kit” but you might find it better to get the advice of a solicitor (You can find a solicitor near you from the law society.)
You will probably want to make sure you leave some provisions for your friends and family. But once they are cared for why not consider remembering LifeBuilder by leaving a gift in your will? Your gift could allow LifeBuilder to pull more of the poorest communities in India out of poverty. You could leave a lasting legacy by radically changing the lives of some of the poorest people in the world giving them a future free from poverty – a pretty impressive out come at the end of your life.
Also if you leave a gift in your will to charity then that gift is exempt from inheritance tax – allowing your gift to go further.
There are two types of ways you can leave gifts in your will – there is a residuary gift or pecuniary gift.
A residuary gift is where you give all or a percentage of your total estate to the beneficiary. If you would like to give a percentage of your estate to LifeBuilder you can do this by using this wording:
“I give to LifeBuilder of 1GW Great West House, Great West Road, Brentford, Middlesex, TW8 9DF, Charity registration number 1129634 all [or ……% share] of my residuary estate for its general charitable purposes. I declare that the receipt of the duly authorised Officer shall be a full and sufficient discharge to my executors."
A pecuniary gift is where you give a set amount. If you would like to leave a set amount to LifeBuilder in your will you can use this wording:
"I give to LifeBuilder of 1GW Great West House, Great West Road, Brentford, Middlesex, TW8 9DF, Charity registration no. 1129634 free of all tax the sum of £… for its general charitable purposes. I declare that the receipt of the duly authorised Officer shall be a full and sufficient discharge to my executors."
In your will you can also stipulate how you would like LifeBuilder to use your gift – for example dictating what sort of people should benefit (such as poor women over 50 years). We will allows work hard to meet the wishes set out in your will. However your gift could have a bigger impact if you leave it to LifeBuilder's general charitable purposes - this means we can use the gift where the need is greatest, allowing it to have a bigger impact - it is also cheaper for us to administer meaning more of your donation goes to exactly where it is needed. However LifeBuilder does understand that you may want your gift to be used in a specific way and we would love to discuss further with you in what ways we could use your gift. Please do contact us.
The UK registered charity 'remember a charity' also has further online resources: http://www.rememberacharity.org.uk/
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