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Thank you for considering leaving a gift to Colostomy UK in your Will.

A legacy gift will help Colostomy UK support future generations of people living with stomas, ensuring we can adapt and respond to their needs. It truly is the gift of a lifetime!

Whatever your interest or passion, a legacy of any size can make a difference. You can direct how you wish your gift to be spent, or leave it to us to apply it where it is most needed.

For example, your legacy could be put to excellent use:

  • ensuring our support services are available to everyone who might need us, however and whenever they choose
  • expanding our range of Active Ostomates classes, both online and in person, to help more people build confidence, fitness and strength after stoma surgery
  • updating our information library, ensuring that all the topics that are of help to ostomates are covered, and they are available when and how they are needed

We’ve teamed up with FreeWills.co.uk, an award-winning online service, to offer you the opportunity to make your own fully comprehensive and legally-binding Will completely free of charge. The three simple steps take about 15 minutes to work through, with live support from their Will specialists, and you have the added reassurance that your Will will be checked, vetted and approved by a solicitor. They can also update and amend existing Wills.

 

You could choose to leave a specific amount, or you might consider a residual gift whereby you firstly take care of your family and other important outgoings, and then leave the remainder, or a share of it, as a charitable bequest.

Leaving a gift in your Will is a simple and tax efficient way to support people living with stomas – it won’t cost you a penny during your lifetime, and is free from inheritance tax (see below)!

 

To leave us a legacy:

  • State in your Will that you would like to leave a gift for Colostomy UK.
  • Include our full details to make sure that your gift goes to the right place: Colostomy UK, registered charity number 1113471, company number 05612173.

Colostomy UK advises anyone making or updating a Will to seek independent advice from a recognised law firm and properly qualified solicitor – Wills are legal documents and, if they are not worded properly, they may not have the effect that you wish. And if you die without a Will, the law decides who gets what!

You can find more information in our Guide to leaving a legacy below, and there is government advice at:

If you’d like to talk to us about a legacy gift, please contact Lindsay on 0118 918 0501 or email Lindsay.Walrond@ColostomyUK.org

 

Inheritance Tax

It comes as a shock to many people to discover that they are liable for Inheritance Tax (IHT). But it is surprising how the value of your assets can add up, particularly if you own your own home. The current Inheritance Tax (IHT) threshold is £325,000, so if the contents of your estate exceed this amount then your estate may pay IHT of 40% on anything above this amount, subject to exemptions. However, you can minimise, or possibly even eliminate, this tax liability by leaving a legacy gift in your will to Colostomy UK.

Gifts to charities are exempt from IHT and if you leave 10% of your estate to charity, the tax due is paid at 36% not 40%. This means you can support Colostomy UK and at the same time reduce the amount of tax your family or other beneficiaries will have to pay.

Properly drawn-up wills can reduce the IHT payable on your estate. Your solicitor will be able to help you with these and other relevant issues and show you how to keep your tax as low as possible.

 

Guide to leaving a legacy

If you are considering a gift to Colostomy UK you may find the following information helpful.

  1. Choose a solicitor

It may seem cheaper and easier to write a Will yourself, but a professionally qualified solicitor will ensure that all the legal formalities are correctly followed and that your Will is valid. A valid Will gives you peace of mind that your wishes will be carried out exactly as you intended. For advice on finding and choosing a solicitor, go to www.lawsociety.org.uk

  1. Value your assets

In the UK, 70% of people eligible to make a Will die without making one. Many think they don’t have enough possessions or money to make a Will worthwhile but, large or small, a gift can make a lasting difference to a cause you care about. Before arranging to have a Will written, it is worth drawing up a list of your assets (house, shares, savings, pension, life policies, personal possessions) and any debts. This will give you a clearer idea of what your final estate will look like.

  1. Plan who to remember

Making a Will is the best and simplest way to ensure that your assets go to the people and causes close to your heart. Think, too, about who you want to carry out your wishes – this person should be appointed as your executor.

  1. Select your legacy

There are three main ways of leaving a gift to Colostomy UK in your Will: ‘Family first’ legacy; Cash legacy; Legacy in-kind. Your solicitor will be able to advise you which would be best suited to your wishes.

  1. Get the correct wording

If you do decide to leave a legacy to Colostomy UK, it’s important that your Will has the correct wording. Your solicitor will be able to advise you.

  1. Let us know!

If you are planning to leave a gift in your Will to Colostomy UK, please do let us know – we love to hear about people’s motivations to support us in this way, and will be happy to chat to you about our longer-term plans so you can decide how you might prefer your legacy to be applied.

 

Thank you in advance for leaving a legacy to Colostomy UK – your gift will make a lasting difference, improving life for people living with stomas into the future.

We hope this information will help to answer any questions you might have about making this special gift. If you would like to know more, please don’t hesitate to get in touch: Lindsay Walrond, Fundraising Manager, 0118 918 0501, Lindsay.Walrond@ColostomyUK.org

 

Wills: a jargon buster

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