Having a Will is the best way to ensure your wishes are carried out following your death, and it puts you in control of what happens to the things you own when you no longer need them.
Including gifts to the charities you care about in your will is a further demonstration of your compassion in life. You may not feel able to give gifts in your lifetime, but once your family and friends have been taken care of, please consider leaving Pathway a gift in your Will.
We can’t tell you exactly what our charity will be doing in two, five, ten or fifty years, but we know that our energy, commitment, compassion and passion will always remain.
By leaving a gift to Pathway in your Will, you will help us continue to work with sick, homeless and dispossessed people helping them on their life journeys. A gift, however big or small, will help Pathway safeguard its future to help more sick, homeless and dispossessed people.
Want to know more?
The word “legacy” sounds quite technical, but it’s not that tricky. Have a look below at our “Leaving a Gift in your Will – Some Questions Answered” for a more detailed guidance.
Leaving a Gift in your Will – Some Questions Answered
Q. Why do I need to make a Will?
A. Making a Will is the only way to ensure your wishes are carried out following your death. Without a Will the legal system will decide how to divide your assets. You don’t have to be rich and famous to need a Will.
Q. Is it complicated to leave a gift in a Will?
A. Making or amending a Will is actually quite simple. To amend an existing Will to leave a gift to Pathway, you can use a simple form called a Codicil, which can be downloaded here. Otherwise, making a new Will is easy and usually costs less than £100 and takes about an hour. You should choose a solicitor to help write your Will, and if you don’t know any solicitors, we recommend you call the Law society on 0870 606 2555 or visit www.lawsociety.org.uk/find-a-solicitor
You should be clear about the amount and type of gift you would like to leave to your beneficiaries. Before consulting a solicitor, consider the value of your possessions and decide what you would like to leave and to whom.
Q. What is a Letter of Wishes? Can I use this instead of a Codicil?
A. A letter of wishes is reliant on the executors of your Will to fulfil your wishes and it is not legally binding. A Codicil is legally binding and therefore the most reliable way of amending an existing Will.
Q. I’d like to make a gift to Pathway in my Will. What information do I need?
A. Your solicitor can advise you on the correct wording. However, it helps if you can include our full name of Pathway, our registered office address and registered charity number as below:
The London Pathway
5th Floor East
250 Euston Road
London NW1 2PG
Registered Charity Number: 1138741
Q. The word “legacy” sounds confusing! What are the main types of gifts I can leave if I want to leave a legacy to Pathway?
A. There are a range of difference gifts you can make. The main ones include:
- A specific gift allows you to leave a specific item to Pathway.
- A pecuniary gift allows you to leave a specific amount of money to Pathway.
- A residuary gift allows you to leave Pathway a share of your estate once family and friends have been taken care of.
- A reversionary gift allows you to leave your estate to your dependants while they are living, but after they pass away it will revert to Pathway.
Q. How much of my Will will be spent on administration?
A. The last thing you want is for the money you entrust to us to be eaten up by administration costs. Legacies are very easy for a charity to process – it is done in the same way as a “normal” cheque or cash donation. You can be confident that your legacy will be efficiently and effectively used by Pathway for the benefit of our clients.
Q. I am an executor and there is a request to make a payment to Pathway. How do I pay you?
A. Please send a cheque payable to “The London Pathway” including a covering letter outlining who the gift is from. Our address is: Pathway, 5th Floor East, 250 Euston Road, London, NW1 2PG
Q. Can I specify how my gift should be used?
A. If you want your gift to be used in a certain way – for a local Pathway service or a particular project – you can include this in your Will. However, please phrase this as a request, not a condition. If the conditions are stated too specifically, sadly we may not be able to use your gift if for example the project you have specified is no longer operating. It is most useful to Pathway if the gift is unrestricted so that we can use the money where we believe our patient need is greatest.
Q. Are there any tax benefits to leaving a gift to Pathway?
A. If you leave a gift to a Pathway in your Will, its value will be deducted from your estate (your money, possessions and property) before Inheritance Tax is worked out. If your estate is liable to Inheritance Tax, you could reduce the amount due by choosing to give money to charity.
You can read the latest information on Inheritance Tax at www.hmrc.gov.uk/inheritancetax. Please note that the Gift Aid scheme does not apply to gifts in Wills.
Q. Do I need to tell you that I’ve left a gift to Pathway in my Will?
A. No you don’t need to tell us. But we would like to be able to thank you and keep you up to date with Pathway’s work if that is possible.