A Gift In Your Will

Making a will is the best way to ensure that your wishes are carried out after your death and your property, money and possessions go to the people and organisations that matter to you. Many people put off writing their will as they expect it to be complicated. However, in reality it is relatively simple and a legal advisor can guide you through the process.

The Sussex Beacon provides specialist care and support for people living with HIV. We promote independence and improve health and wellbeing by providing inpatient and outpatient services.

It is estimated that there are currently over 100,000 people living with HIV in the UK. Brighton has the highest proportion of people living with HIV outside of London, which is why our services are so important.

Psychological and social issues are common, such as difficulty finding employment and family or relationship breakdown. Many of these issues are exacerbated by the stigma of HIV, which forces some people to keep their diagnosis a secret in fear or discrimination.

Last year we provided care and support for over 500 women, men and families affected by HIV. This year we need help to raise over £2.5m to keep our vital services running.

That sounds like big money – and it IS. But every gift helps us to raise that total.

You can read more about the profound impact making a gift in your Will could make here.

You’ll need to think about your estate, your possessions and any digital or monetary assets. We’ve assembled a full list below:

• Make a list of everything you own – including property, money, shares, investments, life insurance policies, and all your valuables and possessions
• Work out the value of these assets
• Decide who should benefit from your estate, e.g. family, friends, charities
• Decide who to appoint as your executor(s), i.e. the people who will administer your estate

Due to the legal challenges of producing a Will, we always recommend using a professional to write your Will. There are some options around this available to you:

Free Will writing service with The Sussex Beacon

Hensby Law Ltd have very kindly offered to provide a free Will writing service for people who wish to pledge a £500 legacy to The Sussex Beacon. To take advantage of this service please contact the Community Fundraiser at The Sussex Beacon on 01273 694222, or email us at fundraising@sussexbeacon.org.uk

If you already have a Will and wish to make changes to it, it is definitely worth getting in touch with us to discuss how you may be able to qualify for our free Will writing service.

Use your own solicitor

The cost of using a solicitor can depend on how complicated your Will is, where you live and how many Wills you wish to write. The costs should be made clear at the start of the process, and it is worth comparing quotes.

If you don’t already have a solicitor, then the Law Society can help you find a solicitor in your area: Visit their website at www.lawsociety.org.uk or give them a call on 0207 242 1222.

Using a DIY Will kit

Although this may seem like a cost effective option initially, it is very easy to make technical errors and invalidate your Will and could result in your intentions not being carried out after you pass away. If you decide to go ahead with this option, please consider asking a solicitor to check its validity once you have finished preparing your Will.

Your beneficiaries (the people, organisation or charity that benefits from your Will) will only have to pay Inheritance Tax if the value of your estate is over a certain value.

See: www.gov.uk/inheritance-tax (for current legislation)

Leaving a gift to your spouse or a charity (a legacy) can help reduce the value of your estate and the amount of Inheritance Tax liable to be paid.

In April 2012, the government also decided that anyone leaving 10% of their taxable estate to a charity may qualify for a reduced rate of Inheritance Tax. At this point it is important to remember that this is only basic information.

Tax legislation and laws can be complicated so we encourage you to read more of the information available on the government’s website.

Residuary Gift

After you have made the provision for your loved ones and after the debts and other gifts have been made, this is what would be left of your estate.

As this is usually a percentage, this gift would not be affected by inflation, so it is the most valuable way to leave a gift to The Sussex Beacon.

Pecuniary Gift

This type of gift is a fixed amount. Due to the rates of inflation, this type of gift is unlikely to retain it’s original value.

Specific Gift

These are specific named items; previously The Sussex Beacon has received anything from antiques and jewellery to property.

Gift in Trust

You may choose to leave a gift for someone you love to use over a period. Once this time has passed then this gift can them be passed onto another recipient, including a charity. This may also be called a life interest.

Conditional Gift

This type of gift is only made if another event happens first. For example, you may choose to leave a gift to The Sussex Beacon if the other beneficiaries of your Will pass away before you do.