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How to leave a legacy to St Oswald's

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How do I leave a gift to St Oswald's in my Will?

We advise that you use a solicitor to have your Will drafted or updated. We can help you through our Make a Will Month scheme or find your local solicitor.

Choose the type of gift you would like to leave.

You will need to decide what type of gift you would like to leave – a residuary or cash gift.

A residuary gift...is a percentage of the money left after your specific gifts to others in your Will.  This means that your loved ones are taken care of and there is no need to change your Will if circumstances change. There's no commitment to a fixed sum of money - so everyone can afford to leave a residuary gift! 

If your estate is worth more than £325,000, you can reduce the amount of inheritance tax you pay if you leave 10% or more of the net value to charity.

A cash gift...is a fixed sum of money, for example £10,000. This is also known as a 'pecuniary gift'.

A specific gift...is an item you leave to St Oswald’s, for example jewellery or artwork. 

A reversionary gift...allows you to leave assets to a chosen beneficiary to use during their lifetime, with the whole or a percentage of this being reverted to another beneficiary or charity only after their death.

Updating an existing Will

A codicil is a way to add a gift to St Oswald's to your latest Will. It is a supplement to the Will that can make changes or amends and allow additions to that Will.

We recommend you seek advice from your solicitor when having your will redrafted. St Oswald's accept no responsibility or liability for changes to, or drafts, of your Will. 

Download a codicil form

 

Drafting a Will for the first time

If you haven’t made a Will yet, you can follow the guide below:

  • What to do next…

    Choose a Solicitor. To ensure your wishes are carried out exactly as you would want, we recommend that you seek appropriate, professional advice from a Solicitor. If required we can provide a list of local solicitors that we work closely with in your area.

    Did you know you can make, or update, a Will with one of our solicitors participating in our Make a Will Month scheme each June? You will be charged a reduced rate during this special month, and the entire fee will be donated back to St Oswald’s by the participating solicitors. Please contact the Fundraising Team if you would like more details on Make a Will Month or click here.

    Other things you may wish to consider before visiting a Solicitor…

    • Executors – select the people who will ensure the wishes set out in your Will are carried out. These can be family, friends or your solicitor.

    • Beneficiaries - the people, family, friends or charities whom you wish to inherit your assets.

    • It would be worthwhile to make a list of your most valuable assets, such as your home and contents, car, bank and savings accounts, stocks and shares, life insurance policies, trusts and pensions.

    • Also take a record of money that you owe including your outstanding mortgage, loans, credit cards and other debts.

    • Legal guardians – if you have children under the age of 18.

    • If you are making a Will you may wish to include a Letter of Wishes. This is a non-binding letter, written by you, designed to sit alongside your Will. A letter of wishes can be hugely valuable to executors by offering advice and guidance, as well as giving you the opportunity to explain, in your own words, the instructions in your Will and the reasons behind them.

       

      Reasons to include a letter of wishes:

      • To posthumously assist and guide your executors and make their role easier.
      • It is an easy record to update and amend, without the need to update your Will.
      • It can be used as evidence if your Will is challenged after your death.

       

    • Every individual’s letter of wishes will be very personal and unique to them. Things you may wish to cover in a letter of wishes might include:

      • A list of your main assets: bank accounts, life insurance policies, valuable items and their locations
      • Who to notify about your death
      • Instructions for your funeral
      • Advice or instructions for the guardians of your children
      • Your reasons behind any gifts to charity or other beneficiaries
      • An explanation why certain people have not been included in your Will. This can alleviate any frustration or hurt that may be caused by not understanding the reasons behind your decision.
      • Guidance on the location of specific items left in your Will or more detailed information to assist your executors.
      • Guidance on the care of pets.

       

      Please note a letter of wishes is not legally binding and should not conflict with any of the instructions set out in your Will. 

      Download an example of a Letter of Wishes here.

     

     

     

     

     

     

     

    If you do wish to leave a gift to St Oswald’s, your Solicitor will need our full address and details.

    Please let us know if you have left a legacy to St Oswald's in your Will. You don't need to tell us how much, and we won't use your information for anything other than to thank you, and to make sure we communicate with you appropriately in the future.