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Gifts, Wills & Trusts

The London Olympics and Paralympics were built on the promise of a lasting legacy. The opportunity to create and inspire future generations. But what about our own legacy?

Gifts in wills are a vital source of income for us

Most of us, of course, want to make sure family and friends are looked after and provided for. However, once this is achieved, a gift from the remainder of your estate can make a big difference to the work of RSABI.

How to give to RSABI in a will

Gifts, or legacies, will be used effectively and efficiently to help those people in rural Scotland facing acute hardship. They are one of the best ways you can help RSABI. You should speak to a solicitor about your will and any changes you might wish to make to it. However, the following are typical of the key questions you might have:

1. What types of legacy are there?

There are 3 types of legacy:

  • A residuary legacy - once you have provided for your family and others you can leave the remainder or a percentage of your estate to RSABI e.g. 10%
  • A pecuniary legacy ­ - a specific sum of money e.g. £1000
  • A specific gift e.g. a house, jewellery, a farm

2. Why do I need a solicitor?

A will is a legal document. If it is not prepared properly it may be invalid. That is why RSABI recommends using a fully qualified solicitor to make or change a will.

3. Can I save on tax by leaving a legacy?

The 2011 Budget introduced new concessions concerning tax levels if a proportion of an estate is left to charity. For full details of this, and current allowances for individuals and couples, you should speak to your accountant or solicitor.  RSABI is not allowed to advise on such matters. 

4. What wording should I use in my will?

You should consult with your solicitor on wording your will. To view our suggested wording visit the Wording for Wills page. 

 Image by Graham Downing

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