|Writing and Reviewing your Will|
|Having an up to date Will is important because it is the only way to ensure that your estate is distributed according to your wishes; it guarantees your loved ones and the causes you believe in receive what you intended for them.
Writing or updating your Will can seem like a difficult task, but it is easier than you think to leave a gift to charity. Below is more information to help you write or update your Will and some simple methods you can use to remember the National Trust for Scotland in the best way for you.
If you do wish to remember the National Trust for Scotland make sure you include our name, address and charity number when you write your Will:
The National Trust for Scotland, Hermiston Quay (WS), 5 Cultins Road, Edinburgh EH11 4DF, Charity Number SC 007410
|Types of Legacy
|Residuary Legacies - Are when you leave a fraction or percentage of your estate to a person or charity once all your personal bequests have been carried out. These legacies are extremely important as they tend to be inflation proof.
Pecuniary Legacies - Usually specify a fixed sum of money to the National Trust for Scotland. Please remember that if not reviewed regularly the value of these gifts can fall due to inflation.
Bequests of Property - Can include gifts of personal possessions such as heritage items, land or buildings. If you are thinking of leaving a gift of this kind please contact us to discuss your intentions and any practical issues involved in such gifts.
|The 5 Step Guide to Writing a Will|
|Make a list of all your assets
What do you own (and owe)? A house? Investments? Write it all down as this will form the basis of your Will.
|Decide who you would like to benefit
Now you need to think about who you would like to include in your Will. Most people start with their family and friends along with their favourite charities. Giving to your favourite charities can not only have a big social impact but also be tax effective as gifts to charity are exempt from Inheritance Tax.
|Decide what types of gift you would like to leave
There are several kinds of legacy that you can give to your beneficiaries and it is up to you how you use these methods. Please refer to the “Types of Legacy” guide above to understand how you can leave a bequest.
|Choose your executors and meet your solicitor
We strongly recommend you see a solicitor to discuss your Will and finalise the above steps you have already taken in preparation. You must also decide who will be your executors (the people who are tasked with carrying out your Will). These can be family members or close friends or often your solicitors.
|Keep your will safe
Many people leave their Will with their solicitor and keep a personal copy at home. Wherever you choose to keep your Will make sure your executors know where to find it!
|Your Legacy – you choose how we use your gift|
|A gift in your Will to the National Trust for Scotland can be used in whatever way you feel is right for you. The majority of legacies are unrestricted General Legacies and these help the Trust to address challenges and opportunities as they arise. You could leave a Specific Legacy to a property or space you want to see preserved, or an area of work you feel strongly about. You can even set up an Endowment (an investment which allows interest gained to be used by the Trust) to provide security for generations to come.|
|Attaching a Codicil|
|If you have a Will you may wish to make small alterations to it in the future. A codicil is a document used to make a change to a Will, usually to add a pecuniary gift. The benefit of adding a codicil is you do not have to re-write the whole Will to make a small change. A simple way of remembering the National Trust for Scotland in your Will is by adding a codicil.
While a codicil is not a difficult thing to attach it is still a legal document so we recommend you speak to your solicitor to update your Will with a codicil.