Why is an up-to-date Will important?
An up-to-date Will ensures that your estate is distributed in the way that you wish. It is the only way to ensure that your family, friends and favorite charities are provided for correctly. Without a Will, the state decides how to split your assets. It is therefore a good idea to review your Will often to keep on top of any changes in circumstances (marriage, divorce, new family members that may come into inheritance, etc.).
Do I need a solicitor?
Although it is possible to write your own Will, it is advised that you have a qualified solicitor help you with the process. Without the correct wording your Will could become invalid. A good solicitor can ensure that all wording in your Will is correct and free of ambiguity. They can also word your Will in a way that accounts for any changes to your circumstances that may occur down the line. Without the correct wording, your Will could become invalid.
I don’t have a solicitor. How do I hire one?
With so many solicitors out there to choose from, finding the right solicitor to write your Will can be a difficult choice. Nevertheless, if you choose to include SHA in your Will, we have connections with a well-established law firm that has agreed to construct your Will free of charge.
However, should you wish to find your own solicitor you can contact The Law Society of Scotland, who are the governing body for all solicitors practicing in Scotland and can provide you with a list of accredited solicitors in your area. You can contact them directly by visiting the Law Society HERE or by calling 0131 226 7411.
Which ways can I give to SHA in my Will?
There are many different ways that you can donate to SHA in your Will:
- Residuary Gift: refers to a gift that is donated from the ‘residue’ of your estate. Anything that is left over once your family and friends have received their inheritance is referred to as the ‘residue’. A residual gift to SHA could be either all or a percentage of this left over estate.
- Pecuniary Gift: refers to a fixed sum of money, outlined in your Will, to be donated to the charity. This method is a less efficient form of giving, as fixed sums lose their value over time due to inflation.
- Specific Gift: refers to a particular ‘thing’ or object being donated in your Will. For example, this could be jewellery, a house, a car, etc.
I don’t have a large estate. Is it worth donating?
Yes. Every donation we receive is used to support people affected by HD in Scotland. So, whether you donate £100 or £100,000, your donation will help us to carry out the amazing work that we do for years to come.
I already have a Will. How can I amend it?
Your solicitor can make changes to your Will for you. By having a solicitor do this for you, you can be sure that the wording of your Will is correct. If you make changes yourself you could disrupt the wording and render your Will invalid.
Is my donation subject to inheritance tax?
Donating to charity in your Will is often seen as a tax efficient way to give. This is because anything that you donate to Scottish Huntington’s Association is deducted from the taxable portion of your estate so you will not pay inheritance tax on your donation. For example, if the taxable portion of your estate is £10000 and you donate 10% to Scottish Huntington’s Association, then you will only pay inheritance tax on the remaining 90% (£9000). It is also worth noting that, from April 2012, any charitable donations over 10% will mean that you automatically qualify for a lower rate of inheritance tax (36% instead of 40%) on the remainder of your estate.
I want to include SHA in my Will. What information do I need?
To include us in your Will, take note of the following details:
Scottish Huntington’s Association
Charity Number: SC 010985