Leave a legacy to Masicorp
If you’ve lived a long and happy life, writing your will doesn’t have to be a solemn matter. In fact, it can be one of the most inspiring things you ever do. Your will is an opportunity for you to do something exceptional for people in Masiphumelele who live in poverty – people who might not otherwise get the support to reach their full potential.
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.
We would always recommend consulting a solicitor / attorney to ensure that all the legal formalities are correctly followed and your will is valid.
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.
You can download the UK Codicil form by clicking here.
You can download the South Africa Codicil form by clicking here.
However, we would recommend that you get this checked by a legal professional.
Legacies in the United Kingdom (UK)
In the UK, the Law Society can help you find a solicitor in your area. For more information please call 020 7242 1222 or visit www.lawsociety.org.uk.
There are three different types of gifts you could leave in your will: residuary, pecuniary, and specific.
- A residuary legacy is a share of the balance of your estate once all other payments have been made.
- A pecuniary legacy is a fixed sum of money.
- A specific legacy is a gift of a specific item, such as personal possessions, land, buildings or shares.
Your solicitor will advise on the specific wording you need to use for different types of gifts.
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 registered charity.
To find out more about Inheritance Tax, visit HMRC or contact your solicitor.
Need more information?
If there’s anything else you’d like to know about leaving a gift in your will, or executing a estate which contains a gift to Masicorp, please contact us.