Leaving a legacy
Why do I need to make a Will?
Making a Will ensures that your loved ones are provided for as you intended and that your wishes are respected after you have passed away. If you don’t have a valid Will, the courts have to administer your affairs after you die. This can cause delays and anxiety for friends and family, and your affairs may not be handled as you would like.
What is a Will?
A Will is your legal, binding direction to the people that you appoint to act on your behalf (who are called your executors) to settle your financial and property matters. The executors can then distribute your property (your estate) to the people, charity or cause that you have stipulated. The recipients are called your beneficiaries. A legacy or bequest is a gift made in a Will. Large or small, a legacy is your gift after your death to people and charities that you wish to benefit from your life’s savings.
Why make a gift in my Will to the MPS Society?
A gift in your Will cost you nothing during your lifetime, and won’t affect you now, but will one day make a huge difference to the individuals and their families that the MPS Society supports. It is vital that the MPS Society has sufficient funding to be able to look forward to the future with confi dence. One way in which you can support the Society achieve its long term objectives is to include the Society when drawing up your Will. Such generosity will enable us to continue supporting those affected by MPS and related diseases, and honour our commitments to research programmes and a multitude of projects designed to improve the quality of life of individuals with these rare, genetic, life-limiting diseases. Legacies can make an enormous difference to the service we provide.
Do I have enough money to leave a gift in my Will?
Every gift we receive from our supporters – large or small is important to us, and contributes towards the vital research into MPS and related diseases and to supporting those affected.
How do I make a Will?
Do It Yourself – Will packs are available from shops or the internet. Some simply give you a pack which you buy or download whilst others offer an on-line questionnaire which you can complete and then download your completed Will.
Will-Making or Preparation Service – These can be found through the Yellow Pages or the internet. Many offer a home visit by a trained Will maker who can discuss your needs.
Using a Solicitor – Solicitors are professionals and have the best background in the law and procedure concerning the Making of a Will. The MPS Society would recommend that you seek professional advice if you are thinking of making a Will.
What types of Legacy are there?
There are a few different kinds of gift which you can leave in your Will. The most common are a Residuary Legacy, a Pecuniary Legacy and a Specific Legacy.
A Residuary Legacy is a gift on the balance of the estate after all the bequests have been made and debts cleared. This is a particularly popular way to remember a charity because it is expressed as a percentage and is more likely to retain its value over time than a Pecuniary Legacy.
A Pecuniary Legacy is a gift of a fixed amount of money. The latter will, of course decrease over the years as the cost of living increases.
A Specific Legacy is a gift of specific items such as personal possessions; furniture, jewellery, land or buildings for example.
Rather than specifying in your Will the exact purpose for which you would like your legacy to be used, the Society would prefer, if at all possible, to receive gifts which are not for a specific purpose. This gives us the greatest flexibility when planning the funding of future projects.
How do I make a gift to the MPS Society in my Will?
What information do I need include?
If you wish to remember the MPS Society in your Will; we recommend you use the following wording: I leave ……….. to the MPS Society of MPS House, Repton Place, White Lion Road, Amersham, Bucks, HP7 9LP. All bequests left to the MPS Society should also include our registered charity number 1143472, (charity registered in Scotland SCO41012)
Making a change to an existing Will?
Making a Will or making a change to an existing Will need not be complicated. If you already have a Will that you are happy with, but just want to add a gift to the MPS Society, ask your Solicitor to draw up a codicil – a simple legal addition to your existing Will. It is a good idea to review your Will periodically to reflect births, deaths or separations in your family or major changes in your own circumstances.
Will the gift in my Will be confidential?
If you choose to remember the MPS Society in this way, you do not have to inform us of your decision if you would prefer not to. However, if you do inform us of your decision this information will be treated with the upmost confidentiality. If you would like to share your personal reasons or story as to why you have chosen to remember the MPS Society, we would love to hear from you. This can be a great way to encourage others to consider this wonderful way to support our work in the future.