If you choose to support St. Michael’s Hospice in your Will, the following details can assist your solicitor:
St. Michael’s Hospice (North Hampshire)
Basil de Ferranti House, Aldermaston Road, Basingstoke, RG24 9NB
Registered Charity Number 1002856
If you already have a Will in place but wish St. Michael’s Hospice to benefit in some way; this can easily be added with a codicil – this is a way of making a change or addition to your existing Will without having to redraft the Will completely. Alternatively, you can add a ‘letter of wishes’. Your solicitor can advise on this.
There are a number of ways you might decide to support the hospice:
- A gift of money, you can leave a specific amount to us which is known as a ‘pecuniary gift‘.
- A share of your estate, this is a gift of what is left of your estate (or part of) after all debts, taxes, costs and other bequests. It can be a percentage or fraction and is known as a ‘residuary gift’.
- A gift of a particular item, eg. jewellery, a painting or antique, known as a ‘specific gift’.
Just tell your solicitor what you would like to do and they will ensure your wishes stated using the correct legal wording.
Did you know that leaving a gift in your Will can reduce the amount of tax payable on your estate? Under Inheritance Tax rules, if your net estate is worth more than £325,000 it will be liable to 40 % inheritance tax. Gifts to charities are exempt, so if you do leave a charitable gift it will be deducted from your estate before any tax liability is calculated. Also, if you leave a gift of 10% or more of the net value of your estate to a qualifying charity, the rate of Inheritance Tax is reduced from 40% to 36%. For more information, please speak to your solicitor.