Leave a gift in your Will

Why should I make a Will?
It doesn't matter how much or how little you think you have, it is extremely important to make a Will. If you don’t, you die ‘intestate’, which means that your estate is distributed to your family (or the Crown if you have no family) according to the intestacy rules.

Family members, friends and favourite causes you might have wanted to remember could receive nothing and it could also lead to an unwanted and avoidable tax bill on your death.

I would consider a gift to the BHF, but I don’t want my family and friends to miss out. What should I do?
Of course, family and friends come first. We would ask that you particularly consider leaving us a residuary share (or whatever proportion you consider appropriate) of what is left in your estate once all your specific wishes have been included.

I know I ought to have a Will, but isn’t it very complicated?
Not at all, and if you’re just making a very simple change to your Will, it can be even more straightforward by adding a codicil - a simple legal additional to your original Will - rather than redrafting it completely.

Please make sure that you store the codicil with your original Will. The more you can plan upfront the better.

Download a copy of our Handy Hints and My Will Checklist sheets.

What is the legal wording for leaving a gift to the BHF?
Your solicitor can advise you on the correct wording or please contact us (LINK) but it needs to include our full name (British Heart Foundation), Registered Charity Number (225971) and our address (Greater London House, 180 Hampstead Road, London, NW1 7AW).

I am happy with my Will, but I only want to add a gift to the BHF. What do I do?
Again, ask your solicitor to draw up a codicil. This is a simple and inexpensive process.

1. Make a list of your assets
   It can be very useful, and save time and money with your solicitor or legal advisor, to make a list of your assets and estimate their value.

   Download a copy of My Will Checklist.

2. Make a list of what you owe
   You’ll also need to consider any outstanding mortgage, loans or bills – as well as anything you’re owed – in order to give yourself a clearer picture of the true value of your estate.
3. Decide who you want to benefit
   List the people and organisations you wish to remember in your Will and think about how you‘d like to divide your estate between them.
4. Decide what type of gifts you want to leave
   Find more information below on the three main types of legacy you may want to leave.
5.  Choose your executors and meet your solicitor
   We strongly recommend that you see a solicitor, or a member of the Institute of Professional Will Writers, when making or changing your Will. You’ll also need to choose executors, usually relatives, friends or legal advisers you trust, to carry out the terms of your Will.
6. Keep your Will in a safe place
   It’s an important document, so many people leave it in the care of their solicitor or legal adviser and keep their own copy in a safe place. Make sure your executors know how to find it.

There are three main types of gifts in Wills you can leave. Whichever you choose, whatever its size, your gift to us will help to keep more hearts beating.

Residuary legacy

A percentage of the value of your estate once all other payments have been made, (e.g. outstanding debts, tax, pecuniary and specific legacies).

This is a particularly effective way to remember a charity after your friends and family because it is expressed as a percentage and retains its value over time.

Pecuniary legacy

This is a gift of a fixed amount of money.

Specific legacy

A gift of specific items such as personal possessions (antiques, furniture, jewellery), land, buildings or specified investments such as shares or the contents of a bank account.

Leaving us a gift in your Will can be a tax-effective way to support us. Legacies left to us are exempt from inheritance tax which means that leaving us a gift could help reduce the amount of tax payable if your estate is over £325,000 or £650,000 for a married couple or civil partnership.

 Visit HM revenue and Customs for up-to-date information

Legal words or phrases made simple
We know how intimidating legal jargon can be, so here we explain some of the most commonly used terms to help you make sense of it all.

For a full list, download our Jargon Buster.

Administrator 
This is a very similar role to Executor but is the legal name of the person that will sort out your estate if you die intestate (i.e. you didn’t make a Will) 

Executor/Executrix
The (male/female) people you choose to make sure the instructions in your Will are carried out.

Pecuniary legacy   
A gift of a fixed amount of money.

Residuary legacy
A gift of all [or a share] of the residue of your estate.

Trustee
This is a similar role to Executor, but is the legal name of the person who is responsible for any part of your estate left in a trust which continues after your estate has been wound up.