By making a Will, you can ensure that your assets are passed on to the people and charities that you want. If you don’t have a Will, the state will decide how your property should be distributed
We strongly suggest that you use a qualified solicitor to write a new Will or to amend an existing Will. You can find a local solicitor using the Law Society’s website.
You should be clear about the amount and type of gift you would like to leave to your beneficiaries, whether they are family, friends or a charity. Before consulting your solicitor, consider the value of your possessions and decide what you would like to leave, and to whom – it might be useful to jot all this down on paper.
When you make a Will you can say how you would like your financial affairs to be dealt with after your death. But Wills are not just about money - if you have legal responsibility for a grandchild or child under the age of 18, you can use your Will to specify who will become their guardian. You can also use your Will to say what kind of funeral you want, or arrange for the care of pets.
The cost of writing a Will varies from solicitor to solicitor and also according to the complexity of the Will. As a rough guide it could cost around £100 plus VAT for a straightforward single Will and £160 plus VAT for a straightforward double Will.
There are several different ways you can leave a gift in your Will to a charity, or other beneficiary. We’ve outlined the main types below.
A residuary gift
This is the gift of all or part of the value of your estate, after debts, other legacies and liabilities have been met. This has the advantage of automatically keeping up with inflation.
A pecuniary legacy
You can also choose to leave a specified sum of money, which you can arrange to be increased in line with inflation.
A specific legacy or gift in kind
This is the gift of something valuable like a property, a piece of jewellery or stocks and shares. The form of wording is the same as a pecuniary gift, except that the gift is specified instead of a cash sum.
A reversionary legacy
This gift has the advantage of providing for your family first and then benefiting the charity. So when the original beneficiary dies, the gift in your will reverts to your preferred charity. Your solicitor or legal advisor will be able to provide you with wording for this form of legacy.
Taxation rules change frequently. Your solicitor can provide Will tax-planning advice or arrange for the services of an accountant or tax adviser. A Will can allow you to plan your financial affairs to optimise how much you leave to family, friends and charities. For example there is currently no inheritance tax payable on a gift left to a registered charity in your Will.
Executors are responsible for dealing with your estate in accordance with your instructions. The role can involve handling large sums of money. If you have young children, it's best to appoint separate executors and guardians so your financial legacy is separated from the health and welfare of your dependents. Never appoint your spouse as your sole executor in case you die together.
Of course you can. Whilst we welcome legacies that can be used for current priorities to allow us to meet our most urgent needs, we are also very happy to accept gifts for a particular use. That means you can choose where and what your money is spent on, for example, you might like to support a particular area of our work, such as our campaigns or road safety training.
Yes, you can. The last thing you want is for the money you entrust to us to be eaten up by administration costs. We already keep these to a minimum, but all legacy funds we receive go directly to fund the parts of our work that fulfil our Charitable Objectives.
As a membership subscription organisation we are able pay for any incurred administration costs and overheads from other sources.
All correspondence should be sent to James Newman at Cycling UK National Office, Parklands, Railton Road, Guildford, Surrey, GU2 9JX. James will reply to the accompanying correspondence and sort out allocation of funds. Cheques should be made payable to Cycling UK.