The most common types of gift are:
A pecuniary gift - this is a fixed sum of money, also known as a cash gift.
A residuary gift - this is a share of your estate and is expressed as all or a percentage of your remaining estate once all fees, outstanding costs and other gifts have been taken care of.
A specific gift - this is a particular item such as property, stocks and shares or other valuables like jewellery or paintings.
You can get a list of local solicitors from the Law Society. Please visit lawsociety.org.uk, or call 020 7242 1222. Alternatively, you can use the discounted Will writing service to get a legal professional to write your Will either online, over the phone or face to face.
A gift in your Will to any charity is not subject to Inheritance Tax (IHT). By remembering Yorkshire Cancer Research in your Will you may be able to reduce the taxable value of your assets and so lower the amount of inheritance tax due on your estate. Furthermore, if you leave 10% or more of your estate to charity, you will be taxed at a lower rate (36% instead of 40%) on any part of your estate that qualifies for inheritance tax.
We recommend speaking to your solicitor or financial adviser to find out the most tax efficient options available to you. To check the current threshold at which inheritance tax applies, please visit the government website, www.gov.uk.
To ensure Yorkshire Cancer Research is correctly named as a beneficiary of your estate, please include the charity's full name, address and charity number when drafting your Will: Yorkshire Cancer Research, Jacob Smith House, 7 Grove Park Court, Harrogate, HG1 4DP. Registered charity 516898.
You can add a codicil for minor changes to your Will, including adding a charity. A codicil is a supplement which is kept with, but not attached to, your Will. You can download our codicil if you would like to leave a fixed sum of money or specific items to Yorkshire Cancer Research in your Will.
To avoid the risk of inconsistencies between the original Will and codicil, it's a good idea to check with a solicitor that this codicil will fit with your existing arrangements. If more extensive changes are required, or if you would like to leave a percentage of your estate to Yorkshire Cancer Research, we strongly recommend that you consult a solicitor.
If you would like to leave a gift for a particular purpose, please contact us first to ensure that we will be able to meet your wishes. You can then include the details in your Will, either as an Expression of Wish where Yorkshire Cancer Research will be under a moral obligation to try and comply, or as a legally binding statement.
The decision to leave a gift to Yorkshire Cancer Research in your Will is a personal one, and one that you may only wish to share with those closest to you. However, if you would like to let us know, this will help us plan for the future and we would love to have the opportunity to thank you.
Every gift we receive can make a big difference. And if you change your mind about how much you'd like to leave to Yorkshire Cancer Research, you can easily change this at any time by completing a codicil and storing it with your Will.