Leaving a Legacy

WRITING YOUR WILL

Writing your Will is one of those things that we mean to do but don't get around to. But don't be one of the 7 out of 10 people who never get around to making a Will because you might leave relatives and friends to cope with legal complications and family disagreements. It is best to go to a solicitor and get reliable professional advice to suit your circumstances and wishes, even if your Will is very simple.

Do your homework before seeing a solicitor. Make a list of what you own, property, valuables, savings, shares etc. Make another list of who should benefit from your Will including any charities you wish to help.

If you would like to help Mayfair then you might like to consider remembering  Mayfair in your Will.

These are some of the ways to do so:

• A share of your estate. Once you have made sure that the people you care about are looked after then the remainder of your estate can be used to help Mayfair to continue to serve the community.

• A Gift of Money. This could be a percentage of your estate or a specified amount of money. The value of a specified amount can be preserved by index linking it to the Retail Price Index.

• Gifts of Specific Items. For example, your home, shares, unit trusts etc. and valuables.

ADDING A CODICIL TO YOUR WILL

If you would like to donate money to Mayfair in your Will you can do so quickly and easily by writing a codicil to your Will. Unless your Will is complicated you can do so without going to the trouble and expense of consulting your Solicitor.

In the codicil you can either specify the amount of money you wish to bequeath, or write it as a percentage of your estate. Forms are provided for both alternatives in this leaflet.

Here are the steps to take:
1. Check that you can write a codicil without making alterations to the original Will. For example, you cannot write a codicil, making a bequest to Mayfair, if your Will leaves your entire estate to Battersea Dogs' Home.

2. Decide whether you want to bequeath a sum of money or a percentage of your estate and fill in the appropriate form with your full name and address. If you are bequeathing a specified amount, write the amount in figures and words. Do not sign or date at this stage.

3. You may wish to protect the value of a specified amount against inflation by leaving on the form the clause reading "This sum will be increased ---." If you do not wish to do so, then delete and initial the clause.

4. Sign and date it in the presence of two witnesses and ask them to sign and write their address. (Note: the witnesses should not be people who would benefit directly or indirectly from the Will or codicils, so do not choose anyone connected with Mayfair).

5. File the codicil with your original Will for safekeeping.


DID YOU KNOW?

1. You can make directions for your funeral in your Will. If you already have a Will you can make directions for your funeral in a "Letter of wishes" which you should file with your Will.

2. You can donate shares, unit trusts etc. to a charity at any time. You do not have to wait until your death to give them away.