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Legacies

A legacy in your will help to ensure that the work of Wirral and Chester RDA continues for years to come.

Why is a will so important to you?

Many people never make a will because they assume everything will go to their spouse or children but this isn’t always the case. It's essential you make plans for the money you leave when you die, however large or small the amount may be.  To make sure your money goes to the people you choose, you (and your partner if you have one) should make a will.

How much does making a will cost?
Making a will is quite straightforward.  A Solicitor can help draw one up.  The fee for drawing up a will should be quite small – ask a Solicitor how much he charges before deciding.

Why consult a solicitor?
Home-made wills may not stand up in law if they are not properly put together.  It’s much safer to pay an expert to draw up a watertight will.

How can I reduce inheritance tax?
Any money you leave to your spouse or to charity is not subject to  inheritance tax by reason of your death.  So by leaving a gift to Wirral and Chester RDA you could also substantially reduce the amount of tax payable on your estate.

Can I change my will?
If you already have a will, it’s easy to amend it.  Minor changes such as leaving a gift to Wirral and Chester RDA do not require a new will.  The existing Will can simply be amended by completing a codicil which your solicitor will draw up for you.


How you can leave money to Wirral and Chester RDA

There are three ways you can leave money to Wirral and Chester RDA:

Pecuniary Gift
A specified sum of money, decided when the will or codicil is written, is called a pecuniary legacy.

Specific Gift

When a particular item of value is bequeathed, this is a specific legacy.  This includes stocks and shares, the proceeds of a life assurance policy, property, furniture and jewellery.

Residuary Gift
A residuary gift is the gift of the residue of your estate or a percentage of the residue after your debts have been settled and any legacies you leave to other people have been paid.


Wording your Legacy

If you decide to make a will in favour of Wirral and Chester RDA you will need to contact your solicitor and tell him what you want to do. He or she will need to know the form of words which are usually used when including Wirral and Chester RDA in a will. These are:

'I give ............. to Wirral and Chester Riding for the Disabled and I declare that the receipt of the treasurer or other proper officer of the said Association shall be a full and sufficient discharge for the said legacy.'


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