Do I need a solicitor? Expand We would strongly recommend using a solicitor to draw up your will. A correctly written will is important and will give you peace of mind, knowing that your wishes are known and correctly recorded. You can find details of solicitors local to you by contacting the Law Society Although you can also write a will using an online will company. Just be sure to check the credibility of the site you are using and be sure that an online will is right for you.
Should I tell you that I’ve left a gift to the Orpheus Centre? Expand Your will is a document personal to you and it is up to you who you share it with. You should never feel that you have to tell us if you have included us in your will. But if you do wish to tell us, the Orpheus Centre will be able to thank you for your generosity and will make sure we communicate with you appropriately.
Can I have a say where and how I would like my gift to be used? Expand Yes you can. However, although you can specify how you would like your gift to be used at Orpheus, we would strongly advise that you also include a clause that says that you are happy for your gift to be used where it is needed most, as the courses and facilities that we provide in the future may change or grow. This will ensure that your generous gift will still reach us.
What about Inheritance Tax? Expand Inheritance tax (IHT) is a tax payable on the value of any assets or property that you leave. There are many rules surrounding IHT and in what circumstances it should be paid. We would advise you to talk to a solicitor about the possible implications of IHT on your estate. You may be interested to know that gifts to charities are exempt from IHT and can in some cases even lower the rate of IHT on your estate. For example, due to government law changes in 2012, people who leaves at least 10% of their wealth to charity will have any inheritance tax bill reduced from 40% to 36%.
What if I want to change my will at a later date? Expand Once you have made a will it is very important that you review it every few years to make sure it reflects your wishes. If you need to make a small change to your existing will, this can be done very easily by making a codicil, rather than writing an entirely new will. Talk to your solicitor about this option.
Don’t you have to be rich to leave a legacy? Expand No; a gift left in a will can be any size. There is no minimum or maximum amout. Any gift, big or small will make a real difference to the work of the Orpheus Centre.
Why should I make a will? Expand A will is the only way that you can be sure that your personal and financial wishes are carried out after you die. It is a way to provide for any family, friends and charities that are close to your heart. Having a will can also relieve any pressures placed on your family and friends at a difficult time, as they will know what your wishes are in relation to your estate. It is an easy process to undertake and can be reviewed and amended in the future if you wish.
Who should I choose as Executor for my will? Expand An executor is the person you appoint to carry out the terms of your will. It is advisable to appoint more than one person as your executor; they could be people you know or you could appoint a solicitor if you prefer.
What details do I need to include if I want to leave a gift to Orpheus? Expand To leave a gift to Orpheus in your will you will need to include our full name and charity number, this way you can be sure that your gift will reach us correctly. Registered Charity number 1105213 North Park Lane, Godstone, Surrey, RH9 8ND Please see How to leave a gift in my will for more information and for suggested wording.
How much will it cost? Expand The cost of a will depends on the type of will you need. A simple will is likely to cost around £150 - £250 for an individual will and £250 - £350 for a mirror will. (Mirror wills are similar documents created on behalf of a married, civil partnership or unmarried couple. They are virtually identical wills where one member of the couple leaves their estate to other in the event of their death.) However if you need a more complex will, that includes a trust to manage the ongoing provision for family members, then it is likely to cost more.