I already have a Will. Do I need a new one? Expand No, you do not need a new Will. If you are happy that your current Will still reflects your wishes and you simply wish to make some additions or small changes then your Solicitor can help create a Codicil. A Codicil lists minor changes or extra gifts to your original Will. It is however a good idea to regularly review your Will in order to make sure it reflects any changes in your circumstances (e.g. marriage, a new house or children and grand-children)
I'd like to leave a legacy gift to the Rare Breeds Survival Trust in my Will. What information do I need to include? Expand Your Solicitor will advise you as to the correct wording in your Will; however please ensure that you include our full name of the “Rare Breeds Survival Trust”, our registered office address and registered charity number as set out below and that you wish to make the gift for the “general purposes” of the Rare Breeds Survival Trust. Please inform your Solicitor of this information. Rare Breeds Survival Trust (RBST) Avenue QStoneleigh Park Kenilworth Warwickshire CV8 2LG Registered charity number 269442 (England and Wales)
What happens if I change my mind? Expand You are free to change your mind about leaving a gift in your Will to the Rare Breeds Survival Trust at any point, and we understand that this is a personal decision and one you take into consideration with your loved ones. If you have told us you are intending to leave us a gift, please do let us know if you have changed your mind.
What’s the best way to remember the Rare Breeds Survival Trust in my will? Expand The best way to remember the Rare Breeds Survival Trust is with a ‘residuary legacy’ for the “general purposes” of the charity. A residuary legacy is where you donate a percentage of your estate, once family and friends have been provided for and any money owed is deducted. Your Solicitor can advise you as to the best method; however a residuary legacy means your gift won’t decrease in value due to inflation and can therefore help your gift go further. The other options available include a ‘pecuniary legacy’, which is a gift of a fixed sum of money or a ‘specific legacy’ which is a gift of a particular item (antiques, jewellery etc…)
Should I use a Solicitor to make my Will? Expand To ensure your Will is valid and that your instructions are carried out, we recommend that you seek professional advice from a Solicitor. They will be able to offer you tailored advice which ensures your wishes are met.
What about Inheritance Tax? Expand If your estate is worth more than £325,000 then Inheritance Tax is currently paid to the government at a rate of 40%. Most gifts left to us are exempt from Inheritance Tax because we are a charity. The 40% rate on your estate can be reduced for people who leave legacies to charities. To find out more about Inheritance Tax, please contact your Solicitor or visit the HMRC website.
I am an Executor of a Will, how do I pay a legacy gift to the Rare Breeds Survival Trust? Expand We accept payments by cheque made payable to “Rare Breeds Survival Trust”. Please send cheques to the following address: Rare Breeds Survival Trust (RBST), Avenue Q, Stoneleigh Park, Kenilworth, Warwickshire, CV8 2LG If you would prefer to pay by bank transfer, please contact us and we can advise of the best way to proceed.
How do I choose a Solicitor to write my will? Expand It can be difficult to choose from the hundreds of solicitors available. We can provide you with a list of local solicitors from the Law Society. Alternatively you can visit their website at lawsociety.org.uk, or call them on 020 7242 1222. In Scotland, please contact the Law Society of Scotland at lawscot.org.uk, or call 013 1226 7411 and in Northern Ireland please contact the Law Society of Northern Ireland at lawsoc-ni.org, or call 028 9023 1614. These FAQ’s have been prepared by Lodders Solicitors LLP(www.lodders.co.uk)who can be contacted on 01789 293259 or by email to [email protected]