A legacy or bequest is the term used to describe a gift in a Will.  
 
Considering how important it is to take care of one's loved ones and how vital gifts in Wills are to charites, it is astonishing that only three out of ten people in the United Kingdom make a Will. Yet provided a solicitor is consulted, making a Will is actually very straightforward and not as expensive as many people think.  
 
If you have not made a Will, your survivors - family and friends - will experience difficulties. Your estate will be divided by law and not by your wishes. If you have no family, everything you have will go to the state.  
 
Drafting a Will is not difficult. A visit to a solicitor will ensure that your beneficiaries will inherit according to your wishes. A solicitor's fee for drafting a Will is not expensive.  
 
When making a Will please consider including a legacy to HCPT. As a registered charity your bequest would be realised in full.  
 
If you have already made a Will and you would like to add a legacy to HCPT your solicitor can easily draft an addendum, called a Codicil. Again, this is a simple inexpensive process.  
 
If you decide to leave a legacy to HCPT in your Will please let us know. Your pledge is confidential and not legally binding. It does not commit you in any way but it is very helpful in enabling us to plan ahead.  
 
If you require advice on your Will or help with a legacy please telephone us on 01788 564646 or e-mail us.  
 
A bequest to HCPT in your Will would be realised in full. As a charity, we are exempt from Capital Gains Tax and charitable bequests are not subject to Inheritance Tax.  
 
 
 
 
 
A SPECIFIC BEQUEST is the gift of a particular item such as jewellery or a painting.  
 
A CONDITIONAL BEQUEST states what should happen if either the beneficiary were to die before you, or where a gift will only come to the final recipient after a beneficiary's death. It is a common way of donating money to charity. We strongly suggest that for Specific, Conditional and other forms of bequest the advice of a solicitor is sought. If you have already made a Will it is very easy to add a charitable legacy to it. Your solicitor will help you draw up a simple amendment (or Codicil). Many people use the opportunity for a general review of their Will anyway.  
 
A REVISIONARY BEQUEST (Liferant) is where a legacy is left to a relative or friend (life tenant) for them to benefit from during their lifetime. This can be in the form of a house, or the interest on a trust fund (life interest). After the life tenant's death, the life interest is then passed on as a legacy to the charity:
Example: A house is left to a relative/friend to inhabit during their lifetime. Upon the life tenant's death, the proceeds from the sale of the house go to the charity (or is shared with other beneficiary(s)).  
 
Example: The residue of an estate is left in a trust fund and the interest is payable to the life tenant until death. Upon death, the capital (or a percentage of the capital) is passes to the charity as in a Residuary Gift.  
 

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