Legacies

A quick guide to legacies

Did you know that only 3 out of 10 people in the UK make a will!

It is very important to make a will as it ensures that your family is looked after as you wish as well as preventing legal problems, and of course it allows you to remember your favourite causes.

A legacy is a gift of property, money or possessions left in your will. If you decide to leave something to a charity, the gift is free of tax.

There are different types of legacies:

  • Residuary legacy — a gift of the whole or a share of whatever remains of your estate after all other gifts have been distributed and any debts cleared.
  • Pecuniary legacy — a gift of a fixed sum of money. This type of gift can be protected from inflation by linking it to the Retail Price Index.
  • Specific gifts — a tangible item such as a house, a car, an item of jewellery or antique furniture (for example).

Setting up a legacy

The following are suggested wording for setting up a legacy in your will.

Wording for a residuary legacy

“I give __________* of the residue of my estate absolutely to ANXIETY UK of Zion Community Resource Centre, 339 Stretford Road, Hulme, Manchester, M15 4ZY, Registered Charity Number 1113403, for its general charitable purposes. I direct that the receipt of the Treasurer or other duly authorised officer shall be a sufficient discharge to my executors.”

* State all of the percentage/fraction of the residue of your estate that you wish to leave.

For a pecuniary legacy:

“I give the following legacy free of tax to ANXIETY UK of Zion Community Resource Centre, 339 Stretford Road, Hulme, Manchester, M15 4ZY, Registered Charity Number 1113403, the sum of ________________(amount in figures and words) for its general charitable purposes. I direct that the receipt of the Treasurer or other duly authorised officer shall be a sufficient discharge to my executors.”

For a specific gift:

“I give to ANXIETY UK of Zion Community Resource Centre, 339 Stretford Road, Hulme, Manchester M15 4ZY, Registered Charity Number 1113403, my __________________* for its general charitable purposes. I direct that the receipt of the Treasurer or other duly authorised officer shall be a sufficient discharge to my executors.”

* Add a description of whatever you wish to leave.