Answering your questions: What does it mean to leave a legacy?
17 October 2024
It's Free Wills Month this October, so you might have seen lots of charities talking about legacy giving and gifts in wills. But what does it mean and how can you get a free will on us?
Why should I write a will?
Writing a will is the best way to ensure that your loved ones are cared for and your wishes respected, after you die.
Those that pass away without a will are described as ‘intestate’ which means that their estate is divided by rules set by law. which might not necessarily reflect their wishes. Unmarried couples or those in civil partnerships, for example, do not automatically inherit their partners estate regardless of the longevity of the relationship. Those with children should also ensure they have a will as they can appoint a legal guardian in the case of their passing.
What are legacies and gifts in wills?
Legacies, or gifts in wills, are a specific part of a will that is left to a person, group of people, or a charity.
There are a few different types of legacies but generally those that will be left to a charity are a specific item such as a house or car, a pecuniary gift or a residual.
A pecuniary gift is a fixed sum of money whereas a residual gift refers to the share of an estate which is what remains after tax, debts and other legacies have been paid.
Can anyone leave a legacy?
Yes! It’s a complete myth that you need to be rich and famous to leave a gift in your will or a legacy.
Leaving a gift in a will to charity is becoming increasingly common, you may even have friends or family in your life that have already done so.
Even a small amount or percentage of your estate left to charity can make a huge difference.
What about my friends and family? Will they miss out?
Absolutely not. By writing a will, you have complete control over your estate and can ensure that your loved ones are taken care of as well as any charities or causes you are passionate about.
Why should I leave a legacy to RSPCA Norwich?
For many charities, legacies are a vital form of income for their work and we are no exception.
Not many people realise that whilst we share a logo and the ‘RSPCA’ name, we are completely separate to the larger national charity. We work solely across the Norfolk and Suffolk area and are responsible for raising our own funds.
By leaving a legacy to us, you are helping us to carry out our vital work .
A gift left to charity in your will, is also free of inheritance tax. This means that by leaving a gift to us you can ensure the entire amount goes directly to charity and reduce the overall tax on your estate.
What will my gift be spent on if I leave a legacy to RSPCA Norwich?
Your gift could help us provide safe accommodation, toys and food for vulnerable animals, create a new generation of kinder, animal lovers through our education and outreach work, or keep pets in the homes of those who love them through our veterinary financial aid and pet food bank programmes. You could also be helping us to carry out our vital trap, neuter and return work with feral cat colonies around Norfolk.
Can I write my will for free with RSPCA Norwich?
Yes you can! We’ve partnered up with award winning, will writing firm Farewill to offer free wills to our supporters.
You can write your will online or if you prefer to speak to someone you can request a callback from their helpful customer care team. Each will is checked by one of their specialists so you can be confident that your will is legally binding and your wishes will be respected. Choosing to write your will through Farewill could also save you up to £200 in comparison to many high street solicitors.
There is no obligation to leave anything to us in your will but if after providing for your friends and family you would like to leave us a gift, we would be very grateful.
I want to leave a legacy to RSPCA Norwich, how can I learn more?
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