Leaving a legacy in your will is easy and would support YCT’s future.
We recommend that you seek legal advice
when leaving a charitable legacy.
Have I got enough to give?
We understand that your first concern must be to care for yourself and your family. A legacy can be tailored to your personal circumstances. For example, leaving a proportion of your estate (no matter how small) could ensure that YCT would benefit only after your family and friends have been provided for and all liabilities met. Any legacy makes an invaluable contribution to YCT’s future.
Are Legacies Complicated?
No. Legacies are the most simple and flexible way of giving. It is a straightforward matter to include a legacy in your will, or change your will to include a legacy to YCT, although we do recommend that you consult your legal advisor.
Is there a Tax Advantage?
Definitely. We are recognised as a charity by HMRC and therefore pay no tax on the gifts we receive. Legacies also have tax benefits for your estate, as any bequest to YCT is deducted from the value of the estate before that tax liability is calculated. Leaving a legacy to YCT could enable you to reduce the amount of Inheritance Tax paid on your estate
How do I select a legacy that suits me?
You can either leave a fixed sum (known as a ‘Pecuniary Legacy’), or part or all of your estate once other disposals and gifts have been distributed (known as a ‘Residuary Legacy’), or you might want to give YCT a specific gift. You can do this through your will, or by a declaration to the executors or personal representatives giving instructions as to how you would like your legacy to be distributed.
The suggested wording to leave a specific sum (pecuniary legacy) is:
‘I give free of tax to YCT, YCT House, Maddox Road, Harlow,CM20 3GA (Charity Number 298984), the sum of £________ for the general purposes of YCT, and I declare that the receipt of their of their duly authorised officer shall be a full and sufficient discharge.’
The suggested wording to leave a share of your estate (residuary legacy) is:
‘Subject to the payment of my debts, funeral and testamentary expenses, I give (the whole/ (insert percentage value) of my estate not otherwise disposed of by this my Will to YCT, YCT House, Maddox Road, Harlow,CM20 3GA (Charity Number 298984) for the general purposes of YCT, and I declare that the receipt of their duly authorised officer shall be a full and sufficient discharge.’
The suggested wording to leave a specific item is:
‘I give to YCT, YCT House, Maddox Road, Harlow,CM20 3GA (Charity Number 298984), absolutely (insert here whatever you wish to give) for the purpose of YCT, and I declare that the receipt of their duly authorised officer shall be a full and sufficient discharge.’
I have already made my will. Do I have to make a new one to be able to leave something to YCT?
A document making a change to a Will is known as a codicil. You can download a sample here which you should take to your solicitor or legal advisor who will advise you if the Codicil can be used or if it would be better to write a new Will with the legacy to YCT included.
Is There Someone I Can Talk To?
You may have specific ideas on how you would like to benefit YCT or a particular aspect of its work. Perhaps you would like to hear about how you can best commemorate a loved one or mark a particular occasion. Perhaps you would like your bequest acknowledged in some way, or perhaps you would like it to remain anonymous. To discuss any of these ideas further please contact YCT and talk to our Director.
You can get free and independent advice about making a will from organisations like Citizens Advice and Age UK. Click here to access Citizens Advice online guide (opens in a new window).