Q: What type of gift should I leave?
A: With a residuary gift, you can leave a percentage or the whole of your remaining estate, once all debts and other gifts have been paid. Many supporters choose a residuary legacy because it keeps pace with inflation and it’s a way to make sure that everyone can be considered.
Choose a pecuniary gift, and you will specify a sum of money to leave YMCA, but it could be significantly affected by inflation.
Any gift, whatever the size, will make an enormous difference to the life of a young person who has nothing.
Q: Do I need to draw up a new Will?
A: If you have a Will and just want to add a gift to YMCA, you can simply add a Codicil. You should ask your solicitor to help you ensure your wishes are known and acted upon, or you can contact YMCA on 020 7186 9518 to request a Codicil form.
Q: Do I need a solicitor?
A: We advise you to consult a solicitor whether you’re making or changing your Will. This way you can be sure that instructions are clear and your wishes can be carried out. You can find a solicitor in your area at www.lawsociety.org.uk or call 020 7320 5650 (Mon-Fri 9:00-17:30).
Q: Who should I choose as executor?
A: Consider whether a close friend or family member is the right person to ensure your wishes are carried out. Some people choose to pay a bank or a solicitor to act as executor.
Q: What is inheritance tax?
A: Some estates are liable for inheritance tax. The threshold changes and you can find the latest details at www.gov.uk/inheritance-tax