Leaving a Legacy or Gift in your Will

Leaving a Legacy or Gift in your Will

Leaving a Legacy or Gift in your Will to The Great Torrington Commons?

Writing a Will is always a difficult matter to consider and discuss but making sure your family know your wishes at such a difficult time is important.

The Great Torrington Commons Conservators are a registered charity and as such work hard to ensure that there is sufficient income to enable the Conservators to maintain the commons for future generations.  The support of the public – people like you – is vital.

Gifts, or legacies, left to charities in Wills do not need to be large, even a small amount or percentage of your estate, left as a gift, can make a huge difference.  Legacies are an opportunity to leave behind something that will last forever, preserve the land and help to enrich the lives of a wide variety of wildlife.

Leaving a gift to help us to maintain and protect this important amenity will benefit not only your family and  friends, but the whole local and wider community too.

Is It The Right Time To Make a Will?

Everyone should have a will. If you die without making a will, the law decides what happens to your property and possessions and this may lead to difficulties for your loved ones. It is particularly important to make or update your will if you have recently married, had children, become ill, been bereaved or experienced a significant change in your circumstances.

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How Should I Make a Will?

It is possible to write your own will but even simple wills must comply with legal formalities. One mistake can invalidate it. We strongly recommend using a solicitor to draw up your will. If there isn’t one near you then look online. The cost will vary according to the complexity of your will so get more than one quote.

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Is Leaving a Legacy Right For Me?

Only you can decide that. Legacies are wonderful gifts but they are not right for everybody. We much prefer that you look after your loved ones first – and then perhaps consider Great Torrington Commons for anything left over.

Are There Any Tax Considerations?

Legacies to a charity are free of inheritance tax, meaning that by leaving a charitable legacy you can potentially bring down the tax on your estate to zero. Tax rates and bands can vary; your solicitor will provide a calculation.

How Should I Make a Will?

Your solicitor will be able to do this with you. The solicitor will need to know our charity number (202804) and our address (The Great Torrington Commons Conservators, Castle Hill, Torrington, Devon, EX38 8AA). There is also advice relating to making a Will on the UK Government website.

If you would like to discuss anything mentioned in this article, please contact our Vice Chair, Andrew Giles at Great Torrington Commons Conservators, Castle Hill, Torrington Devon EX38 8AA. or Email vicechair@torringtoncommons.org

Thank you, the Chair of the Great Torrington Commons Conservators.