Writing a Will ensures your wishes are carried out after your death. Including a gift to charity in your will can help you leave a lasting legacy through the people whose lives you change.
Your compassionate support could help a seriously ill homeless person to get the help they need to recover. Once your family and friends have been taken care of, please consider whether you could support homeless people through a legacy to Pathway.
Leaving a Gift in your Will – Some Questions Answered
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.
Is it complicated to leave a gift in a Will?
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.
Writing a new Will is easy. It usually costs less than £100 and takes about an hour. A solicitor can be helpful when writing your Will.
What is a Letter of Wishes? Can I use this instead of a Codicil?
A letter of wishes relies on the executors of your Will to fulfil your wishes and is not legally binding. A Codicil is legally binding and therefore the most reliable way of amending an existing Will.
I’d like to make a gift to Pathway in my Will. What information do I need?
A solicitor can advise you on the correct wording. However, it may be helpful to include that charity’s name, registered office address and registered charity number, shown on our contact page.
The word “legacy” sounds confusing! What are the main types of gifts I can leave if I want to leave a legacy to Pathway?
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.
I am an executor and there is a request to make a payment to Pathway. How do I pay you?
Please send a cheque payable to “The London Pathway” including a covering letter outlining who the gift is from, sent to the address shown on our contact page.
Can I specify how my gift should be used?
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.
Are there any tax benefits to leaving a gift to Pathway?
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.
Do I need to tell you that I’ve left a gift to Pathway in my Will?
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.