Why Make A Will?

You can do something to help protect your loved ones and provide for their future, by making a will which states how you would like your property to be shared out in the event of your death.

Unfortunately, many people pass away every year without making a will, meaning their affairs can take years to untangle, with assets being absorbed by legal fees and inheritance tax.  There are many reasons that 2 out of 3 of us fail to make a will.  It is often something people “will get round to one day”, perhaps put off by thinking of a time when they are no longer here, or by the legal jargon that can be difficult to understand.

But if you do not make a will, your estate will not necessarily pass straight to your spouse, children or closest relatives.  And if you do not have living relatives, your entire estate will be passed to the Government.  Only by making a will can you be certain who will benefit and provided for in the future.

Sometimes people wish to leave a gift to charity when they pass on, enabling them to make a difference to an organisation’s good work in future years.  A legacy (or bequest) is the most popular form of planned giving.  It is also cost-effective and allows individuals to make gifts that are much larger than they could give in their lifetime.

We explain here in an easy to follow step by step guide how to make a will, and ensure that you make the most of what you have worked for and looked after during your lifetime.

How to Make A Will

1. Assess your estate – make a list of all your significant possessions, including your house, car and savings.
2. Decide who would like to benefit – family, friends, your favourite charity.
3. Decide how you will divide your estate – there are different types of legacies which your solicitor can advise you of.  The most common are:
Specific legacy – gift of a fixed sum of money or particular item (for example a piece of jewellery).  The value of this will decrease over time as the cost of living increases.
Residual legacy – what is left of your estate after all other gifts and debts have been paid.
Conditional legacy – only takes effect is something else happens (for example, if money left to an is used to build a building, which is named after the donor).
4. Choose your executors – these are the people who will deal with your affairs in the event of your death.  Your partner is likely to be one but it is advisable to have a second, as your partner will have other things to cope with and it would cause complications if you were to pass away together.  Ask whomever you have in mind beforehand if they are prepared to undertake this responsibility.
5. Arrange to see your solicitor.  Solicitors charge from around £30 to prepare a will.
6. Keep your will up-to-date.  It is vital to review your will regularly so that it reflects your current wishes and circumstances.  You can change your will at any time by making a codicil.  It is also worth reviewing fxed sum legacies so that they still reflect the value of the gift you intended, taking inflation into consideration.

How You Can Benefit the King’s World Trust in your Will

Leaving a legacy to the King’s World Trust is your chance to help us meet the challenges in the years to come.  Your gift of faith will help orphaned and disadvantaged children and their families in years ahead.  There is always a need and demand for more aid where we work.  Over the coming years, we plan to build a medical centre and a hospice for terminally ill children.  We also need to carry out further work on our school to ensure that more poor and disabled bright children can benefit from a good education.  This is your chance to be involved in our future.

The King’sWorld Trust has established its reputation as an organisation worthy of support over the past 13 years and this will only increase during the coming years.  Our experienced and dedicated staff have the skills and capacity to manage legacy gifts to ensure that your gift will make a difference, without causing you financial burden during your lifetime.  Leaving a gift to charity may also reduce estate, inheritance or other taxes for surviving family members  

Sample legacy clauses

The following are examples of the wordings you could include in your will to make a gift to the King’s World Trust.

1. For a Residual Legacy

This is to leave what is left of your estate after specific gifts have been made to family and friends.

I give the residue of my estate to the King’s World Trust of Haslemere, Surrey, for its charitable purposes.  I further direct the receipt of the person or persons professing to be the proper officers of the King’s World Trust shall be a full and sufficient discharge for the said legacy.

2. For a Specific Legacy

This is to leave a fixed sum of money to the King’s World Trust, but does not allow for inflation so be sure to review it over time.

I give the gift of £….. (or item ……) to the King’s World Trust of Haslemere, Surrey, for its charitable purposes.  I further direct the receipt of the person or persons professing to be the proper officers of the King’s World Trust shall be a full and sufficient discharge for the said legacy.

It is important to include the full name, address and registered charity number of the King’s World Trust.

If you are thinking of leaving a gift to the King’s World Trust in your will, please contact us.  We can send you further information or arrange to meet you.  There may be several things you wish to discuss, including how we can thank you or publicise your generosity.