How to leave a Legacy
What are the different types of legacy gifts?
- A residuary legacy: this is a percentage or all of what remains after your expenses and other legacies have been paid. A residuary legacy is the best way to benefit the League because it’s unlikely
- to be affected by inflation.
- A pecuniary legacy: this is a gift of a specific sum of money.
- A specific legacy: this is an item of value, such as a house or shares.
Many people choose not to leave a specific sum or item in their Will, but rather to leave the residue of their estate. This is what remains after all your estate expenses and pecuniary and specific legacies have been settled. For example, if your estate’s residue is worth £10,000, a 5% residuary gift to the League will be £500. By using this method, you can be sure that your gift is always within your means, whatever your financial circumstances in later life.
How do I go about drafting my Will?
We recommend you ask a solicitor to draft your Will. They will help you avoid any potential problems and will probably be less expensive
than you think.
Suggested wording for your Will
Residual gift:
"I GIVE ______% share of the residue of my estate to not hereby or by any Codicil hereto otherwise disposed of subject to payment of my funeral and testamentary to the League Against Cruel Sports of registered charity number 1095234, of New Sparling House, Holloway Hill, Godalming, Surrey, GU7 1QZ, for the general purposes of the League; and I DIRECT that the receipt of the person who professes to be the Hon Treasurer or other proper officer of the League for the time being shall be sufficient discharge for the same."
Pecuniary gift:
"I GIVE the sum of ______ pounds free of duty to the League Against Cruel Sports, of registered charity number 1095234, of New Sparling House, Holloway Hill, Godalming, Surrey, GU7 1QZ, for the general purposes of the League; and I DIRECT that the receipt of the person who professes to be the Hon Treasurer or other proper officer of the League for the time being shall be a sufficient discharge for the same."
Specific gift:
"I GIVE _(name item)_ not hereby or by any Codicil hereto otherwise disposed of subject to payment of my funeral and testamentary to the League Against Cruel Sports, of registered charity number 1095234, of New Sparling House, Holloway Hill, Godalming, Surrey, GU7 1QZ, for the general purposes of the League; and I DIRECT that the receipt of the person who professes to be the Hon Treasurer of other proper officer of the League for the time being shall be sufficient discharge for the same."
How do I amend my Will?
Amending an existing Will is easy and inexpensive. The amendment is called a codicil and it should be kept with the Will. It’s important that a solicitor helps with this, to ensure compliance with legal formalities.
What about inheritance tax?
As the League Against Cruel Sports is a registered charity, any legacy gifts made to help our work will be free of inheritance tax.
Thank you for considering leaving a legacy to stop cruelty to animals for sport.