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Why should I make a Will?

If you dont make a Will you dieintestate [see Jargon Buster], whichwould mean that only your nearest family would benet. However,

the division between your close family under the intestacy rules

may not be what you would have wanted and other family

members, friends and favourite causes you might want to

remember would receive nothing. It could also lead to an

unwanted and avoidable tax bill on your death.

I would consider a legacy to the BHF, but I

dont want my family and friends to miss out.

What should I do?

Of course, family and friends come rst. All we ask is that you

consider leaving us a share of whatever is left in your estate once

all your specic wishes have been carried out. There are also tax

advantages of leaving a legacy to charity (see What are the tax

implications? on the opposite page).

I know I ought to have a Will, but isnt it very

complicated?Not at all, and if youre just making a very simple change to yourWill,

it can be even more straightforward by adding a codicil to your

original Will rather than redrafting it completely. The more you can

plan upfront the better, which is why weve enclosed the Handy

HintsandMy Will Checklistbooklets at the back of this guide.

What about the law in other parts of the UK?

The inheritance law is the same in England and Wales. However,

some important aspects dier in Scotland, Northern Ireland, the

Channel Islands and the Isle of Man. A solicitor or legal adviserwith knowledge of those jurisdictions can help you if this is a

relevant issue.

Your questions

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What is the legal wording for leaving a gift

to the BHF?We cannot say for certain because that depends on the nature of

the gift. Your solicitor or legal adviser can advise you on correct

wording but please ensure that it includes our full name British

Heart Foundation, our address 14 Fitzhardinge Street, London,

W1H 6DH, and our Registered Charity Number 225971.

When should I make or change my Will?

Its a good to review your Will with a solicitor or legal adviser to

reect births, deaths or separations in your family or major changes

in your own circumstances. In particular, if you get married your lastWill is automatically cancelled and on a divorce your ex-spouse will

be treated as if he/she has died. There might be a considerable

change in your nancial circumstances, such as a large increase or

decrease in the value of a property you own, or you may be the

beneciary of a Will yourself. Changes in laws such as inheritance tax

are important to look out for, or you may just decide youd like to

include another beneciary or charity in an existing Will.

What are the tax implications?

If your estate exceedsthe InheritanceTax threshold, you may be liablefor the inheritance tax on the amount by which it exceeds the

threshold, unless youre able to reduce theamount payable by the use

of tax reliefs.

The threshold for the year 2007-08 is 300,000, rising to 312,000 in

2008-09, and 325,000 for 2009-10. However, because legacies to

charity are generally exempt from inheritance tax, your estate wouldonly be liable to the extent which its value exceeded the threshold

minus the value of any gifts to charities such as the BHF and any

other exemptions. Tax is a complex issue and if your estate is likely to

be worth more than the threshold and you are interested in

keeping your tax bill as low as possible on your death you should

seriously consider getting legal assistance in preparing your Will.

We also have various exemptions from capital gains and income

tax. So, a legacy to the BHF could help to signicantly reduce or

eliminate the tax burden on your estate. Overleaf youll nd more

information on Inheritance Tax and how to keep your liability as

low as possible.

I am happy with my Will, but I want to add a

gift to the BHF. What do I do?

Ask your solicitor or legal adviser to draw up a codicil a simple

legal addition to your existing Will. If your question isnt answered

here, your solicitor or legal adviser will be able to help you.

Or, you can call our Legacy Department on 020 7487 7194.

nswered