Posted: 11:36 on 30-10-17
October/November are months when we are encouraged in the national press to think about setting up a lasting will and testament. According to a YouGov survey, nearly two thirds of the British adult population do not have a will. Solicitors say not leaving one can cause financial stress for loved ones.
Why you should write a will
A will helps to ensure that your assets are divided among the family, friends and charities of your choice, and can help you manage the amount of inheritance tax you pay. It is particularly important for you to make a will if you have children, property or financial investments.
What happens if there is no will
- If someone dies without a will, rules dictate how their money, property or possessions should be allocated, and potentially not in the way you would have wished.
- Unmarried partners and partners who have not registered a civil partnership cannot inherit from each other unless there is a will.
- If there are no surviving relatives who can inherit under the rules of intestacy, the estate passes to the Crown.
- Specific rules can vary across the United Kingdom
How to write a will
List everything that you own including your money, properties, and valuable items with the names of the people that you would like to receive them. Contact a reputable solicitor who can meet with you to discuss your wishes and draw up a legal will on your behalf.
Consider leaving a gift to Crisis Centre Ministries
After providing for your loved ones, please do consider including Crisis Centre Ministries in your will to support the work that you cherish. We are an established charity of 30 years’ experience, trusted by thousands of clients for support. Your gift, large or small will provide practical, financial and emotional aid including food, clothing and temporary accommodation to those in need. Leaving a gift in your will means that we can help vulnerable and homeless people into the future.
Types of Gifts
There are 4 different types of gifts that you can leave us in your will:
A share of your estate
After you have provided for your family and friends, you can choose to leave a share or percentage of your estate to us. This is called a residuary gift.
A cash gift
You can choose to leave us a fixed sum of money, however it is worth noting that these types of gifts do decrease in value over time due to inflation so you may wish to regularly review the value of your intended gift.
A specific gift
You may wish to leave us a specific item. This could be anything from property to books. Wherever possible we will make use of your gift in the work that we do or give to a client who has a need of your gifted item. If we are not able to use your item in this way, we will sell your gift to raise funds for your work that we carry out.
A gift in trust
You can choose to leave estate or items to loved ones to enjoy in their lifetime, and specify that the gift is passed onto us upon their death.
Drawing up a will ensures that your loved ones do not have to cope with additional financial stress at a time of bereavement and loss and ensures that your final wishes are carried out.