How much will it cost?

A simple Will can range from £150 to £500 plus VAT. For more complex Wills the cost can be higher especially where overseas property, trusts or tax planning advice are involved. We do offer a free Will writing service if you are considering a gift to Royal Papworth Hospital Charity.

 

What if I change my mind?

We understand that people’s circumstances may change over time. Should you choose not to leave a gift to Royal Papworth Hospital Charity in your Will that is a personal decision.

 

I have already made my will. Do I need to change it?

If you have already made a Will, you can simply create a codicil which varies the terms of your Will without the need to have it rewritten. There are legal formalities to comply with but this may be the easiest way to add a charitable gift. Make sure you keep it with your original Will.

 

I have heard it can reduce the Inheritance Tax my estate will pay. How does this work?

Inheritance Tax (IHT) is a tax on a deceased’s estate. IHT is charged at 40% of the value of the estate exceeding the available IHT allowance (most commonly the Nil Rate Band – currently £325,000 plus the Residence Nil Rate Band – a further £125,000) left to a spouse or civil partner, charity or eligible for relief. If you leave at least 10% of the ‘net estate’ to one or more recognised charities the IHT rate falls to 36%. Please note that IHT is a very complicated issue and we would strongly recommend you seek professional advice.

 

How will you use my Gift?

Many people who leave Royal Papworth Hospital Charity a Gift in their Will are happy for us to use it as required at the time. Others may specify which area it is to benefit e.g. cardiac surgery or cystic fibrosis. It is important to remember of course that, while we may have a certain fund at the time you include us in your Will, that fund may cease to exist many years later when we receive your Gift. It is therefore better to be fairly general and not too specific on its use. If you leave a note of wishes with your Will specifying your intentions, we will endeavour to apply if tor that purpose if we can.