Leaving a gift in your Will
Our mission at Ovacome is: We Care, We Support, We Research, We Educate
We have been supporting women and their families affected by ovarian cancer since 1996. There have been many milestones and triumphs in Ovacome’s history, but our work is far from over. Our vision is a world where no one needlessly loses their life to ovarian cancer. By leaving a gift in your Will to Ovacome you will help to make this brighter future a reality. Together we can change the outcomes for ovarian cancer from stories of loss to stories of survival!
Every single pound has the power to make a difference, please consider supporting our work in this very special way and help our work live on because together we will change people’s lives. A gift in your Will could help us help all those women who will be affected by ovarian cancer: wives, mothers, daughters, sisters, aunties and grandmothers for future generations; and their families.
We understand that loved ones and family comes first in one’s financial plans, which makes the gifts we do receive so greatly appreciated.
Why leave us a legacy?
We receive no government funding so we rely on the generosity of our supporters. We are the only UK ovarian cancer charity providing dedicated support and advice through a free specialist nurses support line and online forum, our nurses give expert guidance, personalised clinical information, emotional support and resources for women diagnosed with ovarian cancer or worried they might be at risk; and their family and friends.
We also carry out research into ovarian cancer and run a highly successful UK Survivors Teaching Students programme, giving seminars and educating student nurses, doctors and specialists, from undergraduate to postgraduate level on signs, symptoms and experiences of ovarian cancer; we are the European representatives of this programme. We are unique as we are managed by a staff and trustee body with direct experience of ovarian cancer. Our chief executive trained as a nurse and is a practicing health professional and an ovarian cancer survivor, as is our helpline nurse. We are a small highly dedicated team of 6.
Types of Legacies
There are three main types of gift that you can leave in your Will:
A percentage of your estate can make a big difference, you can leave a percentage of your estate after your family and friends are provided for, this is called a residuary gift.
You can leave a specific sum of money; this is called a pecuniary gift.
A specific gift is a particular item such as a piece of jewellery or art or shares, this is called a specific bequest.
We would encourage you to discuss your Will with your solicitor to ensure that all legal requirements are met and that your Will is valid. A properly drafted Will can help reduce the amount of tax payable on your estate and increase the value of the assets that you pass on to the people you care about.
Tax rules may also mean that if you leave at least 10% of your estate to charity, the Inheritance Tax rate on the rest of your estate may reduce from 40% to 36%. You should seek advice from your solicitor or tax advisor on how the rules may affect you.
If you’re unsure where to start, we can help…
Making a Will
Your Will is an opportunity for you to continue to help and provide for the people you love. Having an up-to-date Will is the only way to make sure that your family and friends, and any charities you care about, are provided for as you intended. Dying ‘intestate’ (without a Will) means the government will decide the order of who gets what from your estate, irrespective of what you might have wished.
Do I need a solicitor to write my Will?
We would always recommend consulting a solicitor to ensure that all the legal formalities are correctly followed and your Will is valid.
How do I choose a solicitor?
How much does it cost?
The cost of using a solicitor varies depending on how complicated your Will is. The solicitor should make it clear from the start how much they will charge. You may like to consider writing your Will during the month of November with a participating Will Aid solicitor. For more information please visit Will Aid
What if I change an existing will?
If you would like to add a donation to an existing Will, you can use a codicil. Adding a codicil to your Will means there is no need to change the terms of your current Will. It simply adds a new instruction. However, we would recommend that you get this checked by a solicitor. Find a solicitor at The Law Society of England and Wales or The Law Society of Scotland.
Are there different ways I can leave a gift?
There are three different types of gifts you could leave in your will: residuary, pecuniary, and specific.
A residual bequest
This is a gift of the remainder (or proportion of the remainder) of your estate, after all payments, taxes and other bequests have been made. This option allows you to take care of friends and family first and still make a meaningful donation. We suggest the following wording:
‘I give ___% / all [please specify] of the residue of my estate to Ovacome, 49 – 51 East Road, London N1 6AH, United Kingdom, registered charity number 1159682. I further direct that the receipt of a Trustee or other officer of Ovacome shall be a full and sufficient discharge of the said gift.’
A pecuniary bequest
This is a fixed sum of money decided by you. We suggest the following wording:
‘I give the sum of ___ to Ovacome, 49 – 51 East Road, London N1 6AH, United Kingdom, registered charity number 1159682. I further direct that the receipt of a Trustee or other officer of Ovacome shall be a full and sufficient discharge of the said gift. ‘
A specific bequest
You can also bequeath specific personal possessions such as property or shares. We suggest the following wording:
‘I give ___________ [detailed description of specific item] to Ovacome, 49 – 51 East Road, London N1 6AH, United Kingdom, registered charity number 1159682. I further direct that the receipt of a Trustee or other officer of Ovacome shall be a full and sufficient discharge of the said gift.’
Your solicitor will advise on the specific wording you need to use for different types of gifts.
What information do I need to include when leaving a gift to Ovacome?
Please include our name, our address and our registered charity number:
Ovacome, 49- 51 East Road, London N1 6AH
Charity Number 1159682
What about Inheritance Tax?
Inheritance Tax is currently paid to the government at a rate of 40% if your estate is worth more than £325,000 (as per 2013). Most gifts left to us are exempt from Inheritance Tax because we are a charity.
Tax rules may mean that if you leave at least 10% of your estate to charity, the Inheritance Tax rate on the rest of your estate may reduce from 40% to 36%. You should seek advice from your solicitor or tax advisor on how the rules may affect you.
What if my circumstances change?
A good solicitor will make sure your will is worded to take account of any changes in your family or personal circumstances, such as marriage or divorce, the birth of children or grandchildren, or coming into an inheritance.
Letting Ovacome know
If you decide to include a gift to Ovacome in your will, please let us know – this will give us the opportunity to thank you and show you how your gift will make a difference to our work.
Need more information?
If there is anything else you would like to know about leaving a gift in your will or to request our will writing guide in print please get in touch email@example.com – 020 7299 6651.
Guidance for Executors
If you’re an executor (or ‘executor nominate’ in Scotland) for someone who’s left a gift in their will, we realise that probate can be complicated. Here are some frequently asked questions about estate administration.
Do you need to hear from me during the administration?
If Ovacome is due to receive a gift in a will, from an estate you are administering, please get in touch firstname.lastname@example.org – 020 7299 6651
Or alternatively write to us at:
Ovacome, 49- 51 East Road, London N1 6AH
How would you like your payment?
You can send a cheque made payable to ‘Ovacome’ to Ovacome, 49- 51 East Road, London N1 6AH
Please send any accompanying paperwork with your payment.
If you would prefer to pay by bank transfer or card, please contact us so that we can advise you on the best way to do this email@example.com – 020 7299 6651
What about tax?
As a registered charity, Ovacome is exempt from Inheritance Tax, Capital Gains Tax and some aspects of Income Tax. These valuable exemptions all apply to legacies and estate administration, and can substantially increase the value of our gift at no cost to the beneficiary.
Other Things You May Wish to Consider
Executors – are the people you select who will ensure the wishes set out in your Will are carried out. These can be family, friends or your solicitor.
Beneficiaries – are family, friends or charities whom you wish to inherit your assets.
It would be worthwhile to make a list of your most valuable assets, such as your home and contents, car, bank and savings accounts, stocks and shares, life insurance policies, trusts and pensions.
Also take a record of money that you owe including your outstanding mortgage, loans, credit cards and other debts.
Legal guardians – if you have children under the age of 18.
Other wishes you may wish to record in your Will include funeral arrangements, care of dependent relatives, care of dependent relatives, care of pets.
Our Promise to You
- We will use your legacy gift wisely and cost effectively within our services.
- We will always respect your privacy and understand that your Will is very personal to you.
- We understand that your family and loved ones are the first priority when making a Will.
- We will never ask you to declare the size or value of your gift to us.
- You have the right to change or amend your Will at any time and we will always respect your right to do this.
If you notify us of your intention to leave us a gift in your Will we will ensure you are appropriately thanked and informed of relevant information about Ovacome. We understand that many people may decide to keep this information private, but we would also appreciate the opportunity to thank you during your lifetime if you do decide to share this information with us.
We will treat any information you supply to us about your intentions in the strictest confidence.
We will always welcome you to Ovacome if you would like to see us in person and be available to answer any questions you may have.