Remember Retina UK in your Will

We recommend speaking to your solicitor. They will advise whether to add a Codicil, or whether to create a new Will.

Retina UK is excited to offer a free Wills service for our supporters through Make a Will Online at: makeawillonline.co.uk/RetinaUK. Retina UK will cover the cost of Wills made through the service, but after creating your Will you can choose to make a donation to cover the costs, if you would like to do so. All Wills are checked by a fully-qualified solicitor and are covered by £2m insurance. There is no obligation to leave Retina UK a gift when you use the service, but we would be really grateful if you do. If you follow the link above and create a Will, details of your legacy will be shared with us. If you would prefer we didn’t receive this information, you can make a Will and pay for it yourself at this link: makeawillonline.co.uk

Alternatively, you may already have a trusted solicitor you intend to approach. If not, consider seeking recommendations from friends and family.

You can also visit the Law Society website for a list of all firms in the UK, which is searchable by issue (e.g. Wills and probate) and location.

Or take a look at The Goodwill Partnership for more information about their home visit solicitor-provided wills.

There are three types of bequest you could leave to Retina UK:

1. Pecuniary – this is a specific sum of money. Bear in mind that inflation could cause the value of a pecuniary bequest to lessen over time, so you might want to consider asking your solicitor to index link the gift, preserving its value.
2. Residuary – this is a share of your remaining estate after all debts and expenses have been discharged and all pecuniary and specific bequests have been paid.
3. Specific – you may have a particular item you wish to leave to the charity, perhaps some jewellery, artwork, furniture or even something larger such as a car or house.

Currently, the threshold at which inheritance tax is payable is £325,000. The rate is 40%, but if you leave 10% or more of your estate to a charity, the rate reduces to 36%. This means that by including a charitable bequest you may be able to reduce the tax burden on your other beneficiaries. Charitable bequests are exempt from inheritance tax.

Some solicitors will meet with you face to face to obtain the information they need to write your will. Others will ask you to complete a questionnaire in advance of a meeting. In both cases, you will need to:

• Calculate the value of your estate
• Choose your beneficiaries – these can be anyone: your partner, children, other family members, friends and, of course, any charities you would like to support. You will need their names and addresses, as well as the registered charity number of any charitable beneficiaries.
• Decide on the nature of the bequests you would like to leave: pecuniary (stated sums of money); residuary (a percentage share of your estate after all other bequests, debts and expenses have been paid); specific (particular items e.g. jewellery, furniture etc)
• If you have children under the age of 18, think about who you would want to have guardianship of them.
• Choose two people to act as executors of your Will. Solicitors are able to act as executors for a fee, but you can also select friends or family members whom you trust.

The solicitor will draft your Will based on the information you provide, and you will have the opportunity to check that it is accurate, before signing it in the presence of witnesses. You will then need to ensure that the Will is stored in a safe place, and that your executors know its location. Solicitors will store your Will for you for a fee, as will some banks. Alternatively, you can store it in a secure location at home.