How to leave a gift in your Will
There are more people with OCD than ever before who need treatment for their condition and accessing that support quickly will make a critical difference.
Yet most of the time, these people just wait and wait.
When you are not getting the treatment you need, it makes you feel alone. It makes you feel as though you don’t matter.
The wait for treatment has to end
At OCD Action, we have a vision of a time when everyone affected by OCD gets the treatment they need, when they need it.
A gift in your Will, no matter how small, will help reach this vision.
If you are able to include OCD Action as a beneficiary in your Will, you will need our registered name, address and charity number:
Registered name: OCD Action
Address: OCD Action, Suite 506-507 Davina House, 137-149 Goswell Road, London EC1V 7ET
Registered Charity number: 1154202
If you are writing a new Will, you should find a solicitor to help you draw this up. See ‘Choosing a solicitor’ below.
What to think about
You will need to think about a few things before making your Will:
- who will be named as your executors; the people who will make sure your wishes are fulfilled
- calculate the value of your assets; make a note of your possessions from small items such as jewellery to larger assets including property, savings and investments
- choose the family and friends you’d like to remember. After them, consider whether you would like to leave a gift to charity
A valid Will must be:
- in writing
- signed by the testator (the person who has made the Will or given the legacy)
- signed by two witnesses present at the same time (the witnesses cannot be beneficiaries of the Will)
The testator must have ‘capacity’, i.e: the ability to use and understand information to make a decision, and communicate any decision made.
Choosing a solicitor
A solicitor will be able to advise you on leaving charitable gifts when making a Will. Before enlisting a solicitor, check how much they charge and, if possible, get recommendations from those around you. You may be entitled to legal aid if you are 70 or over; disabled; a parent of a disabled person and wish for that person to be provided for in the Will; or a single person that wishes to appoint a guardian in the Will. More information can be found at your local Citizens Advice Bureau.
Type of gift
Your gift can be as small or big as you like – all donations will make a huge difference to those living with OCD. Gifts are generally specified in the following categories:
Residuary gift: a gift of any portion of your estate that remains after payment of debts, administration expenses and distribution of any specific gifts.
Pecuniary gift: a gift of a specific amount of money you desire to donate. Such gifts can be expressed to be ‘index linked’ so the sum gift holds its value in line with inflation.
Specific gift: a gift of a specific item you wish to leave, e.g. jewellery, artwork or furniture.
Many supporters choose to leave a share of their estate (a residuary gift) for the simple reason that it keeps pace with inflation and enables you to ensure that your family and friends are cared for. After you have thought about those closest to you, would you consider leaving just 1% of your estate to OCD Action?
Wording for a gift
We strongly suggest contacting a professional when drawing up or amending your Will. If you decide to leave a gift to OCD Action, your solicitor may use some specific wording to ensure your wishes are carried out.
The suggested wording below covers the main types of charitable gifts:
‘I give to OCD Action, Suite 506-507 Davina House, 137-149 Goswell Road, London EC1V 7ET, Registered Charity Number 1154202, …… % of my estate / the sum of £…. / specific item(s) ……………………………….. to be used for its general charitable purposes and I declare that the receipt of the Treasurer or duly authorised Officer shall be a full and sufficient discharge for my Executors.’
Our promise to you
We understand that your family and loved ones come first when writing your Will, and we will always respect that. We also recognise you can change your mind about a gift in your Will, at any time, for any reason. And we will treat any information you give to us in the strictest confidence.
Frequently asked questions
The following information may help if you have further questions on leaving a gift in your Will. If you cannot find the answer to your question, please email fundraising@ocdaction.org.uk
Gifts left to charity in Wills are free from inheritance tax so can, in some circumstances, reduce the amount of inheritance tax that might otherwise be payable on your estate.
If, for example, you leave 10% of your net estate to charity, the rate of inheritance tax applied to your taxable estate could be reduced from 40% to 36%, so this:
- reduces the overall inheritance tax bill
- means it costs less to give to charity
We would always recommend that you seek a solicitor’s advice in relation to inheritance tax, as this is a complicated subject. The Money Advice Service website has some more detailed information on inheritance tax, but please speak to your solicitor if you have any specific questions.
If you change your mind, that is absolutely fine, we understand circumstances may change and there may be a time when you need to take OCD Action out of your Will. This is your choice and we completely respect it.