Over half of the UK’s children and young people and one in three adults in the workplace report being bullied and this number is not decreasing. Every day, these people, including those we love and care about, go through some real tough times and we simply cannot underestimate the detrimental, devastating effects that bullying can have on a person.
By leaving a Gift in your Will to BulliesOut, you can help make sure that no matter what challenges the future holds, our vital work will live on. With emotional, practical, educational support and training, given with experience, enthusiasm and dedication, we will be there for each generation of children and young people and those who need us.
Gifts in Wills come in all shapes and sizes. It can be:
BulliesOut has partnered with Martyn Prowel Solicitors to answer your questions and to provide our supporters with legal advice and assistance in drafting your wills.
It is very easy to leave a gift to BulliesOut in your will. You can either leave a set amount of money or a percentage of your estate or the entirety of your estate. Alternatively, you could leave specific items for the benefit of the charity.
As long as you are over the age of 18 (or under that age if you are a member of the Armed Forces) it is never too early to make a will. It is only by making a will that you can be absolutely certain that the people, charities and organisations you wish to benefit from your estate at the time of your death will so benefit.
All that you own or investments or money that you hold is called your ‘estate’. By way of a will you are able to direct where your estate will pass and who will benefit at the time of your death
Making a will ensures that the people, organisations and charities that you want to benefit at the time of your death will benefit. It also enables you to set out particular funeral wishes.
The best way to make a will is to contact a solicitor so that your particular circumstances can be discussed and your will tailor made to your meet requirements.
Our dedicated will writing team at Martyn Prowel are here to assist and advise you in connection with the drafting of your will. Please contact Laura Wishart or Natalie Harvey on 029 2047 0909
Once a will has been prepared and signed it can be changed by you at any time either by it being completely re-written, perhaps if your circumstances change or if the people whom you wish to benefit change or die, or minor changes can be implemented by way of a codicil. Either way it is important for you to have a document that will fully reflect your wishes and is up to date and as tax efficient as possible.
The role of the executor is an important one. This is the person or persons who obtain a Grant of Representation to your estate, administer the estate and pay the money to the beneficiaries. The executor is also the person who can put in place your funeral arrangements, should you wish this to be the case. The executor will also settle any liabilities of the estate before the estate is divided amongst the beneficiaries.
Anyone can be an executor, as long as they are over the age of 18. An executor can also be a beneficiary. An executor can be a member of the family or a friend or it can be a professional, such as a solicitor or an accountant. One of the important things to remember, however, is that it would be prudent to appoint someone who you can trust and who is perhaps younger than you.
A will enables you to name the beneficiaries who are to benefit under the terms of the will, including any minor children. In your will you can decide at what age children are to benefit. A will also enables you to appoint guardians who would take over the day to day take care and responsibility of those minor children.
Any gifts left to a qualifying charity are exempt from inheritance tax (which is otherwise charged at 40% if the estate exceeds the inheritance tax threshold applicable at the time of death).
Furthermore, if you bequeath a gift equivalent to at least 10% of your estate to a qualifying charity you can further reduce the rate at which inheritance tax is payable on your estate (if your estate exceeds the appropriate inheritance tax threshold at the time of death) to 36% from 40%.
As your Will enables you to name the people, organisations and charities you wish to benefit under the terms of the will you can set in what proportions your beneficiaries are to benefit. If you wish to specifically exclude someone from benefiting from your estate there may implications to this and it is best to speak to a solicitor who can advise you of the most appropriate steps to be taken.
It is always possible for you to make a gift to BulliesOut during your lifetime. Such lifetime gifts will be treated as exempt gifts for inheritance tax purposes. This is again something that you may wish to discuss with a solicitor. You may also wish to keep a record of any lifetime gifts for your own records and for the benefit of your executors.
If you decide to leave a Gift to BulliesOut in your Will, you can let us know by contacting us at the above address. We would love to hear from you and be able to thank you. Of course, you don’t have to tell us but please know that we do appreciate your generosity and support.
If you are to receive a legacy under the terms of a will which you do not wish to accept, you are able to sign a document that will ensure that the legacy is paid to BulliesOut instead. There are strict time limits involved with such variations, however, and it is therefore prudent to seek the advice of a solicitor as soon as possible following the person’s death.
BulliesOut, T109 Titan House, Cardiff Bay Business Centre, Lewis Road Cardiff CF24 5BS
Registered Charity Number 1123070