|
Administrative information on leaving a legacy
Fenland Archaeological Trust advises you to see a solicitor before making a will.
This will ensure that your wishes are properly fulfilled after your death with the minimum of work for your family, friends and executors.
However, below are some simple notes that you might want to consider when discussing your wishes with your family, friends and solicitor.
Leaving a legacy is tax efficient
Any legacies left to charities will be taken before inheritance tax is applied to the residue for your family to pay.
You have already made a will
If you have already made a will you can add a codicil easily to change or add to the original. Gifts in Memorian
Many people prefer to see donations made to a charity of their choice in lieu of floral tributes. If this is stated in your Will the executors can make sure that your wishes are known.
The following wording is suggested to ensure that your wishes are met:
“I request my executor to ensure that instead of flowers at my funeral donations are made to the Fenland Archaeological Trust, Registered charity number 295116, of The Droveway, Northey Road, Peterborough, PE6 7QJ.”
If you leave a legacy the details to be included are
Fenland Archaeological Trust
Flag Fen Bronze Age Centre
The Droveway
Northey Road
Peterborough
Cambs
PE6 7QJ
Registered Charity Number 295116.
We would stress that you should always consider your family and friends when making a will.
GLOSSARY OF LEGAL TERMS
| Codicil; |
Addendum to main will |
Legacy;
Death gift;
Bequest; |
All terms mean a gift left by someone for distribution after their death |
Net legacy;
Residuary Legacy; |
Both terms are where a percentage of the residue of the estate is left after all other bequests and expenses have been met. This ensures that if the will is made a long time before death the value of the gift remains the same as a share of your inheritance. |
Fixed Sum;
Pecuniary legacy; |
The gift is a specific sum e.g. £200 |
| Specific Legacy; |
This is the gift of a specified possession which may be property, valuables or stocks and shares. |
Home page | Visiting
Flag Fen | Sign
the Guestbook | Museum
| Explore
|
