Make a gift or Leave a Legacy
Leaving a bequest to Nugent is one way you can make a huge difference to future generations to come. Your gift will help to sustain and develop our services.
We believe in working with any supporter who would like to remember Nugent in their will to ensure that such a generous gift is spent in accordance with their wishes.
This could be general support, our more specifically a gift to one of our projects (Children, Adult or Community) – the choice is yours.
We would be very grateful if you could let us know if you are considering including Nugent in your will so we can thank you and keep you in touch with all the work we are doing.
Below we include some general information regarding wills.
Why make a will?
It is a disturbing statistic that more than 70% of us do not leave a will which can have dramatic consequences for our surviving relatives.
By not leaving a valid will (ie ‘intestate’) our estate is divided according laid down Intestacy Rules, and means that your estate will be devided up according to law and not necessarily your wishes. For example, contrary to popular belief, if we are married everything we own does not automatically go our spouse. Relations, such as parents, brothers and sisters, even our cousins could all claim a portion.
Only by making a will we can you be sure that your wishes are properly carried out and only those that we have chosen will benefit.
Making a Will – your questions answered
Q. Do I need a solicitor?
A. It is advisable. There are many tax as well as legal issues to take into account and using a solicitor or other legally qualified professional can be helpful.
Q Can I change my Will?
A. Yes, at any time. Ask your solicitor or professional advisor to draw up a Codicil specifying your new or additional wishes. When this has been signed and witnessed, it is kept with your will.
Q. How do l start?
A. Start by making lists of all the people and organisations you wish to include in your will and all your assets and then work out how you would like them distributed. If you have never used a solicitor before, ask a friend if they can recommend one. Nugent Care can send you a list of solicitors in your area on request, but we cannot recommend any particular firm. You don’t have to use a solicitor. Your Bank can take care of your will through its Trust Department.
Q. What will this all cost?
A. In comparison the costs of intestacy, the cost of making a will is not high. You should ask your professional advisers what the cost will be before asking them to proceed.
Q. What about tax?
A. Your solicitor can advise on how to minimise your tax liabilities, and thus ensure that the bulk of your estate ends up with your beneficiaries, rather than with the tax man. There is no Inheritance tax on bequests to registered charities.
Q. Special bequests?
A. Apart from leaving money or other assets in your will (pecuniary bequests), you can choose to make a Residuary bequest. This allows you to leave all or part of what is left (i.e. the residue) of your estate to the charity of your choice after your specific bequests have been dealt with. This form of bequest is becoming increasingly popular, especially if you own your home. As your estate increases in value, so does the residue, thus helping to offset the effect of inflation.
Wording a Bequest
The clauses of a will have to be carefully worded to avoid any ambiguity. If you are using a solicitor, they will know how to express your intentions. For guidance purposes only we have supplied some specimen forms of bequest below.
For a Pecuniary Bequest
I give to Nugent, Charity Reg. Number 222930, of 99 Edge Lane Liverpool L7 2PE, the sum of £ free of duty. Such sum to be applied to the general purposes of the Charity and I direct that a receipt of the chief Executive or other authorised officer for the time being of the Charity shall be a good and sufficient discharge to my executors.
For a Residuary Bequest
I give and bequeath /*all the residue of my estate / *one (fraction) share of the residue of my estate/absolutely to Nugent, Charity Reg. Number 222930, of 99 Edge Lane Liverpool L7 2PE. Such sum to be applied to the general purposes of the Charity and I direct that a receipt of the Chief Executive or other authorised officer for the time being of the Charity shall be a good and sufficient discharge to my executors.
To arrange an initial confidential chat on this subject please phone:
Marie Reynolds on 0151 261 2049.
All conversations are confidential.