Legacies

What is a legacy?

A Legacy is a gift left in a will. It can also be called a bequest. If the gift is made to a charity it is often called a charitable bequest. There are three common types of legacy:

• Residuary Legacy - This is the residue of your estate (the remainder of your property, possessions and money) after any taxes, debts or bills have been settled and after your bequests to family, friends and other people have been honoured.
• Pecuniary Legacy -This is a specific amount of money.
• Specific Legacy - This is a specific item of value such as property or jewellery.

Five reasons to make or update your will

1. Protect your loved ones

Without a will, or with a will that is not up to date, you could leave the fate of your loved ones uncertain. Don’t assume your partner, even if you are married, will inherit everything.

2. Prevent legal problems after your death

If your will is out of date, or badly worded, it could be very costly and traumatic for your loved ones to sort out.

3. Care for your children

If you have young children, making a will enables you to decide who will look after them should the worst happen.

4. Help your favourite causes

Once you have taken care of those close to you, you might like to consider a legacy to beat Ensure you have our correct details as mistakes could mean your gift not going to where you would wish.

5. It’s not expensive

Putting your affairs in order using a solicitor is not as expensive as you may think. Many charge a flat fee for making a straightforward will.

Five steps to making your will

1. Use a solicitor

A will is a legal document, so it’s best to seek the advice of a solicitor to make your instructions legally valid.

2. Value your assets

Establish the approximate value of everything you own. You may be surprised how much you have to leave. This could also save you time and money when making your will.

3. Decide whom you wish to benefit

Naturally, you will wish to make provision for those closest to you before leaving a gift to beat. Before visiting your solicitor, note down the names and addresses of everyone you want to include, and what you would like to leave each one.

4. Appoint your executors

It’s advisable to appoint at least two people, called executors, who will make sure your wishes are carried out after your death. They could be friends, family members, or a professional such as a solicitor. (A professional will charge you for this service).

5. Keep your will safe

It’s very important to keep your will safe, such as with your solicitor’, and to tell someone close where it is held. Keep a copy for yourself so that, from time to time, you can check it’s up to date.
Anything to do with your Will is a very personal matter and beat respects your privacy. However, if you decide to remember beat in your Will, it would help us enormously if you could let us know because we would like to thank you properly.

If you would like to know more about leaving a legacy please call beat on 0870 770 3256 option 3 or email fundraising@b-eat.co.uk

In-memoriam

You could also help the Association with an in-memoriam gift in memory of a loved one. This is where an individual asks their families, friends and colleagues to remember them after their death with a gift to charity.

Legacies

Your legacy will help us to build on the knowledge and services we have been developing since 1989: whatever you are able to give will, quite literally, help us to save lives and to support those families who are facing the trauma of watching their loved ones doing battle with these devastating illnesses.