Donate Leave a gift in your will Leaving a gift in your will FAQs Leaving a gift in your will FAQs Do I need a will? Making a will is important, as it ensures your family and friends are provided for in the way that you want after you die. What should I do if I already have a will and wish to make small changes? You can easily update your will using a document called a Codicil. This makes a simple amendment to your current will. It’s completed in the same way as your will and should be stored with it. We would recommend that you consult a solicitor or professional will writer to draft this for you. What if I want to make significant changes? If you would like to make significant changes to your will, we recommend that you consult your solicitor or professional will writer and consider having it redrafted. It is also a good idea to review your will regularly to make sure that it is up to date with your circumstances. For example, there may have been births, deaths, marriages or divorce within your family since you last looked at your will. Who do I need to inform? A will is legally binding and your solicitor or legal professional will ensure it is drafted correctly and that your wishes are carried out. It is also usually a good idea to tell your next of kin or close friend of any particular wishes. What is an Executor and who should I appoint? An Executor is someone you give the legal authority to take care of your wishes and administer your estate after you die. You appoint your Executor(s) when you make a will. Often people choose relatives, close friends or a solicitor. If your arrangements are straightforward, you may only need one Executor but most people tend to have two. You should ask permission before appointing your Executor and you should tell them where you have stored your original Will. Can leaving a gift to charity reduce Inheritance Tax? If you leave your entire estate to charity, the gift would be completely free of Inheritance Tax. Leaving just 10% of your taxable estate can reduce your Inheritance Tax rate from 40% to 36%. Inheritance Tax can be very complicated so we would recommend speaking to someone qualified to advise you about estate planning if you think you may be liable for tax. For more information about Inheritance Tax please visit: gov.uk/inheritance-tax Do I need to inform Leeds Hospitals Charity about my gift? You do not need to tell us, but if you feel comfortable sharing your intentions then we would love to hear from you, so we can thank you for your support and keep you up-to-date with how your support makes a difference. Can I speak to someone about my gift? At Leeds Hospitals Charity we have a dedicated Legacy Officer, to help and support you through the process of setting up a legacy and provide guidance on the right wording to use. Need more help? Please feel free to get in touch by emailing Susan Baulk at [email protected] or calling 0113 539 8198, and we’ll do everything we can to help.