Why a legacy means so much

 

Much of our work depends on legacies, not only to maintain what has been achieved, but also to finance the extension of services for those in our care.

 

Many people cannot afford to give large charitable donations in their lifetime but can make a significant and far-reaching contribution in their Will. Those who remember us in their Wills make a lasting contribution that will be remembered for many years to come, toward better facilities and opportunities for blind, visually impaired or multiply disabled people.

 

There are three types of legacy you can leave:

A residuary legacy
This is a gift of the residue of your Estate or share of the residue, after other bequests to your family and friends have been made and all debts, taxes and expenses have been paid.

A pecuniary legacy
This is a specified sum of money determined when the Will is written.

A specific legacy
This is where a particular item of value is bequeathed, such as stocks and shares, proceeds of a Life Assurance Policy, property, furniture or jewellery.

Setting up a legacy is an easy process. What you need to do is as follows:

Estimate the value of your estate and make a list of the people and causes that you would like to benefit.

Make an appointment with your solicitor who will ensure the exact wording of your will and ensure that it is legally binding.

If you are amending a will you will need to add a codicil. A codicil is an addition or change to a will. Every time you want to update your will you can prepare a codicil and you can have as many of these as you like. However you will need to make sure that your codicil is legally binding (a solicitor will do this for you) and that it is kept with your will.

 

If you do decide to leave Royal Blind a legacy you will need to include our full name, address and charity number details in your will:

Royal Blind Asylum and School

PO Box 500

Gillespie Crescent

Edinburgh

EH10 4HZ

SCO 17167

 

Other things to remember

You can also discuss with your solicitor how you can save on inheritance tax if you leave a bequest to charity.  However it is important to note that once you’ve made your will you shouldn’t just forget about it; you must remember to regularly update it when your circumstances change. For example, many people update their will when they are buying a property or following the birth of a child. It is also worth noting that when you get married all previous wills are no longer valid.