Your legacy can help build a future of hope in Madagascar<\/em><\/span><\/h4>\nA legacy to Money for Madagascar is a powerful expression of your commitment to building a brighter future for the people and wildlife of Madagascar.<\/span><\/h4>\n<\/div>\nDeciding who to remember in your Will is a very personal decision.\u00a0 After considering the needs of your loved ones, if you feel able to leave a gift to charity, please consider leaving a legacy to Money for Madagascar.<\/h5>\nYour gift could help communities in Madagascar to overcome poverty and protect their unique natural heritage for decades to come.<\/h5>\n\n\u00a312,000<\/span><\/h4>\n![\"\"](\"http:\/\/moneyformadagascar.org\/wp-content\/uploads\/2019\/04\/learning-in-education-for-life-program-300x169.jpg\")
<\/span><\/h4>\nCould transform the life prospects of generations of children in an isolated rural community by enabling their school to participate in our Education for Life programme. This integrated programme improves the life chances of impoverished children by improving their health, nutrition and quality of education.<\/span><\/h5>\n<\/div>\n\n\u00a35,000![\"\"](\"http:\/\/moneyformadagascar.org\/wp-content\/uploads\/2019\/04\/save-my-home-284x300.jpg\")
<\/span><\/h4>\nCould help secure the future for endangered lemur species by planting 10,000 indigenous trees in an innovative tropical reforestation programme linking protected areas with wildlife corridors around the Andasibe National Park.<\/span><\/h5>\n<\/div>\n\n\u00a33,600![\"\"](\"http:\/\/moneyformadagascar.org\/wp-content\/uploads\/2019\/03\/A-first-taste-of-formal-education1-300x193.jpg\")
<\/span><\/h4>\nCould save a vulnerable or abandoned child from destitution, providing them with 6 years of safe residential care and education.<\/span><\/h5>\n<\/div>\n\n\u00a33,000<\/span>![\"\"](\"http:\/\/moneyformadagascar.org\/wp-content\/uploads\/2019\/04\/washing-hand-in-Ed4life-progr-Saf-Toam-300x169.jpg\")
<\/h4>\nCould provide safe drinking water to a rural community protecting hundreds of families from waterbourne diseases, which are the biggest killer in Madagascar.<\/span><\/h5>\n<\/div>\n\r\n \r\n <\/div>\r\n\r\n \r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Making a Will \u2013 things to consider<\/span>\r\n <\/div>\r\n \r\n Your Will is your chance to take care of everything that\u2019s important to you. Family and loved ones obviously always come first.<\/h5>\nMany people believe that writing a Will is complicated, but in fact it\u2019s relatively straightforward. When making or updating your Will you should always seek professional advice.<\/h5>\nHere are a few important things you should consider before you speak to a professional advisor.<\/h5>\n1. What is the value of your estate?<\/strong><\/span><\/h4>\nOne of the most important things you will have to work out is the value of your estate.<\/h5>\nThis means calculating the value of everything you own, including:
\nProperty
\nCar
\nSavings
\nPersonal possessions, including sentimental objects
\nYour pension
\nAny investments you\u2019ve made
\nYour business, if you own or part-own one<\/h5>\nAfter adding up the value of all your assets, you need to minus any existing debts. These might include mortgages, loans, overdrafts and credit or extended purchase agreements.<\/h5>\nYou need to check with your pension provider(s) to see if your pension can be included as an asset \u2013 different pension plans have different rules. For more information on this visit www.pensionsadvisoryservice.org.uk<\/h5>\n<\/h5>\n2. How do you want your estate to be distributed?<\/strong><\/span><\/h4>\nGifts can be anything you own and can take the form of specific items, cash amounts, or a percentage of your estate.\u00a0 By making your Will you can make provisions for the age at which young beneficiaries receive their gift or share of your estate, as well as providing for beneficiaries with health or care needs.\u00a0 You may choose to use your Will to pass on business interests: for instance you could leave shares in the family company to a son or daughter who has come into the business. This is a very tax-efficient way to pass on your assets.
\nYou can also specify family and friends who you wish to pass on personal items to.<\/h5>\nFor more information on choosing how to split your estate, visit www.moneyadviceservice.org.uk<\/h5>\n<\/h5>\n3. Who has made a difference to your life?<\/strong><\/span><\/h4>\nHas a charity helped you or somebody you love? Which causes are important to you?<\/h5>\nAfter you\u2019ve looked after your family and friends, you may wish to leave a gift to a charity close to your heart.<\/h5>\nThe donation can be as small or large as you like.<\/h5>\nMake a note of their charity name, address and registered charity number to give to your professional advisor.<\/h5>\nWe can provide you with these details for our member charities, or you can find details for all registered charities in the UK and Wales on the Charity Commission website.<\/h5>\nDetails for charities in Scotland can be found on the Office of the Scottish Charity Regulator.<\/h5>\n<\/h5>\n4. Who do you wish to be executors and guardians?<\/strong><\/span><\/h4>\nAnother important consideration when making a Will is the appointment of your executors \u2013 the people who will deal with your estate in the event of your death \u2013 as well as guardians for your children.<\/h5>\nIdeally, executors should be business-minded family or friends or could be professional advisors.<\/h5>\nRead our guidance for executors.<\/h5>\n<\/h5>\n5. How do you want to store your Will?<\/strong><\/span><\/h4>\nOnce written, most professional advisors will offer to store your Will for you so that the Will is not lost.<\/h5>\nIt may also be worth considering storing your Will with the Her Majesty\u2019s Court Service. When your Will is complete, you can also register it with a number of commercial organisations that operate Will registration schemes.<\/h5>\n
<\/p>\n <\/div>\r\n \r\n
\r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Guidance for Executors \u2013 FAQs<\/span>\r\n <\/div>\r\n \r\n We understand that administering the estate of a loved one can be difficult, but it can also be rewarding. As an executor or personal representative (in cases where there is no Will), you are responsible for ensuring that someone\u2019s last wishes are fulfilled.<\/h5>\nIf you\u2019re an executor, we can answer some of your questions in order to help you understand your duties.<\/h5>\nWhat is my role?<\/span><\/h5>\nAs an executor, your responsibilities include:<\/h5>\n\n- \n
Ensuring that all the property owned by the deceased person is kept safe and secure, as soon as possible after their death.<\/h5>\n<\/li>\n
- \n
Ensuring that any property or items of value are adequately insured.<\/h5>\n<\/li>\n
- \n
Collecting and, if appropriate, convert (sell) any assets due to the deceased person\u2019s estate<\/h5>\n<\/li>\n
- \n
Paying any outstanding taxes and debts (out of the deceased person\u2019s estate)<\/h5>\n<\/li>\n
- \n
Distributing the estate to those who are entitled to it under either the terms of the Will or intestacy<\/h5>\n<\/li>\n
- \n
Delivering up your grant of probate if required to by a court.<\/h5>\n<\/li>\n
- \n
What should I do if a charity is mentioned in the Will?<\/h5>\n<\/li>\n
- \n
If there is a named charity beneficiary in a Will, you should contact their legacy team to discuss the gift with them. Each charity will have different preferences on how they would like to receive legacy payments, so it is best to speak with them directly about this.<\/h5>\n<\/li>\n
- \n
What details does the charity need?<\/h5>\n<\/li>\n<\/ul>\nIn your role as executor, the named charity would find it useful to be informed of the following:<\/h5>\n\n- \n
1. Details of the person who has passed away:<\/h5>\nFull name<\/h5>\nLast known address and any other recent addresses<\/h5>\nDate of Will<\/h5>\nDate of death<\/h5>\nWhether the deceased was a lifetime supporter of the charity (this<\/h5>\nwould enable them to put a stop to any future promotional mailings)<\/h5>\n2. Some beneficiaries are entitled to a copy of the Will. For example, if they receive a share of the residue of the estate (what is left after any specific gifts have been made), you should provide such beneficiaries with this and also a list of the late benefactor\u2019s assets and liabilities at the date of death.<\/h5>\n3. You should also provide them with reasonable updates about the estate administration. This will allow them to understand the nature and contents of the estate and approve any key steps which you take during the administration, for example agreeing the sale price of a property. Such consultation can avoid problems arising in the future.<\/h5>\n<\/li>\n<\/ul>\nHow is the tax calculated?<\/span><\/h5>\nUK registered charities are exempt from paying Inheritance Tax, Capital Gains Tax and Income Tax.<\/h5>\nIf the estate contains a mixture of charitable and non-chartable beneficiaries, you should check the percentage of Inheritance Tax payable. If 10% or more of the net estate is left to charitable beneficiaries, a lower amount of Inheritance Tax (36%) may be payable on the non-charitable parts of the estate. You can check whether or not this lower rate will apply at Gov.uk.<\/h5>\nWho can I contact for further guidance?<\/span><\/h5>\nIf you are acting as an executor, you can find a solicitor in your local area who will be able to help answer any further questions you have.<\/h5>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Useful organisations<\/span>\r\n <\/div>\r\n \r\n To find out more about making a Will and leaving a gift to charity, please take a look at the links below:<\/h5>\n\n- \n
Gov.uk<\/h5>\n<\/li>\n
- \n
Citizen\u2019s Advice<\/h5>\n<\/li>\n
- \n
Society of Trust and Estate Practitioners<\/h5>\n<\/li>\n
- \n
The Law Society<\/h5>\n<\/li>\n
- \n
The Law Society Scotland<\/h5>\n<\/li>\n
- \n
The Law Society of Northern Ireland<\/h5>\n<\/li>\n
- \n
Institute of Legacy Management<\/h5>\n<\/li>\n
- \n
Institute of Professional Willwriters<\/h5>\n<\/h5>\n<\/li>\n
- \n
Certainty National Will Register<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for England and Wales<\/h5>\n<\/h5>\n<\/li>\n
- \n
OSCR \u2013 Office of the Scottish Charity Regulator<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for Northern Ireland<\/h5>\n<\/h5>\n<\/li>\n
- \n
Co-op Legal Services<\/h5>\n<\/li>\n<\/ul>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Will writing jargon buster<\/span>\r\n <\/div>\r\n \r\n When it comes to Will writing, you might come across some terms that you haven\u2019t heard before. Here are the explanations for some of the most common terms used in Will writing.<\/h5>\nBeneficiary<\/strong><\/span><\/em>:\u00a0 A person, or an organisation, to whom you leave something in your Will.<\/h5>\nBequest<\/strong><\/em>:<\/span>\u00a0 A term for a gift that you leave to a person or organisation in your will. There are several different types of bequest, but the main ones are:<\/h5>\nResiduary bequest:<\/strong><\/em><\/span>\u00a0 A gift made of what is left of your estate after all other gifts have been handed out and debts paid off. To do this you may leave either the total of the residue or a percentage.<\/h5>\nPecuniary bequest<\/span>:<\/strong>\u00a0 <\/em>A gift made of a fixed sum of money. Unfortunately, the effect of inflation means that the value of a pecuniary gift will decrease over time.<\/h5>\nSpecific bequest<\/span>:<\/strong><\/em>\u00a0 A particular named item left as a gift in your Will. For example, a piece of jewellery, furniture or a painting.<\/h5>\nCodicil<\/span>:<\/strong>\u00a0 <\/em>A codicil is a document used to change a Will that has already been made. You can find more information about codicils in how to leave a gift to charity in your Will.<\/h5>\nEstate<\/span>:<\/strong><\/em>\u00a0 Your estate is the total sum of your personal possessions, property and money minus any liabilities.<\/h5>\nExecutor(s)<\/span>:<\/strong><\/em>\u00a0 The person or people that you appoint to ensure your final wishes are carried out. These can be professionals, friends, family members or institutions such as banks and some charities.<\/h5>\nGuardian<\/strong><\/em><\/span>:\u00a0 Someone who is responsible for children until they become 18.<\/h5>\nInheritance Tax<\/span>:<\/strong><\/em>\u00a0 This tax is paid on the portion of your estate that is above the nil-rate threshold.<\/h5>\nIntestate<\/strong><\/em><\/span>:\u00a0 The word used to describe someone who has died without a Will.<\/h5>\nLegacy<\/strong><\/em><\/span>:\u00a0 Another word for a gift or bequest left in your Will.<\/h5>\nProbate<\/strong><\/em><\/span>:\u00a0 When somebody dies leaving a Will, their executors will usually need to apply for a grant of probate. Once this is obtained, the executors can deal with the wishes expressed in the Will and distribute the gifts that have been left.<\/h5>\nResidue<\/strong><\/em><\/span>:\u00a0 This is what is left of your estate after any outstanding debts, taxes, pecuniary and specific bequests have been distributed to beneficiaries.<\/h5>\nTestator<\/strong><\/em><\/span>:\u00a0 The name given to a person who has made a Will.<\/h5>\nTrustee(s)<\/span>:<\/strong><\/em>\u00a0 One or more people who manage a trust.<\/h5>\n <\/div>\r\n <\/div>\r\n\r\n\r\n\r\n <\/div><\/p>","protected":false},"excerpt":{"rendered":"Miala tsiny fa tsy mbola misy amin’ny teny malagasy ity lahatsoratra ity. Your legacy can help build a future of hope in Madagascar A legacy to Money for Madagascar is a powerful expression of your commitment to building a brighter future for the people and wildlife of Madagascar. Deciding who to remember in your Will is a very personal decision.\u00a0 After considering the needs of your loved ones, if you feel able to leave a gift to charity, please consider leaving a legacy to Money for Madagascar. Your gift could help communities in Madagascar to overcome poverty and protect their… <\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-no-sidebar.php","meta":{"footnotes":""},"class_list":["post-216","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/comments?post=216"}],"version-history":[{"count":5,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions"}],"predecessor-version":[{"id":16899,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions\/16899"}],"wp:attachment":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/media?parent=216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Deciding who to remember in your Will is a very personal decision.\u00a0 After considering the needs of your loved ones, if you feel able to leave a gift to charity, please consider leaving a legacy to Money for Madagascar.<\/h5>\nYour gift could help communities in Madagascar to overcome poverty and protect their unique natural heritage for decades to come.<\/h5>\n\n\u00a312,000<\/span><\/h4>\n<\/span><\/h4>\nCould transform the life prospects of generations of children in an isolated rural community by enabling their school to participate in our Education for Life programme. This integrated programme improves the life chances of impoverished children by improving their health, nutrition and quality of education.<\/span><\/h5>\n<\/div>\n\n\u00a35,000<\/span><\/h4>\nCould help secure the future for endangered lemur species by planting 10,000 indigenous trees in an innovative tropical reforestation programme linking protected areas with wildlife corridors around the Andasibe National Park.<\/span><\/h5>\n<\/div>\n\n\u00a33,600<\/span><\/h4>\nCould save a vulnerable or abandoned child from destitution, providing them with 6 years of safe residential care and education.<\/span><\/h5>\n<\/div>\n\n\u00a33,000<\/span><\/h4>\nCould provide safe drinking water to a rural community protecting hundreds of families from waterbourne diseases, which are the biggest killer in Madagascar.<\/span><\/h5>\n<\/div>\n\r\n \r\n <\/div>\r\n\r\n \r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Making a Will \u2013 things to consider<\/span>\r\n <\/div>\r\n \r\n Your Will is your chance to take care of everything that\u2019s important to you. Family and loved ones obviously always come first.<\/h5>\nMany people believe that writing a Will is complicated, but in fact it\u2019s relatively straightforward. When making or updating your Will you should always seek professional advice.<\/h5>\nHere are a few important things you should consider before you speak to a professional advisor.<\/h5>\n1. What is the value of your estate?<\/strong><\/span><\/h4>\nOne of the most important things you will have to work out is the value of your estate.<\/h5>\nThis means calculating the value of everything you own, including:
\nProperty
\nCar
\nSavings
\nPersonal possessions, including sentimental objects
\nYour pension
\nAny investments you\u2019ve made
\nYour business, if you own or part-own one<\/h5>\nAfter adding up the value of all your assets, you need to minus any existing debts. These might include mortgages, loans, overdrafts and credit or extended purchase agreements.<\/h5>\nYou need to check with your pension provider(s) to see if your pension can be included as an asset \u2013 different pension plans have different rules. For more information on this visit www.pensionsadvisoryservice.org.uk<\/h5>\n<\/h5>\n2. How do you want your estate to be distributed?<\/strong><\/span><\/h4>\nGifts can be anything you own and can take the form of specific items, cash amounts, or a percentage of your estate.\u00a0 By making your Will you can make provisions for the age at which young beneficiaries receive their gift or share of your estate, as well as providing for beneficiaries with health or care needs.\u00a0 You may choose to use your Will to pass on business interests: for instance you could leave shares in the family company to a son or daughter who has come into the business. This is a very tax-efficient way to pass on your assets.
\nYou can also specify family and friends who you wish to pass on personal items to.<\/h5>\nFor more information on choosing how to split your estate, visit www.moneyadviceservice.org.uk<\/h5>\n<\/h5>\n3. Who has made a difference to your life?<\/strong><\/span><\/h4>\nHas a charity helped you or somebody you love? Which causes are important to you?<\/h5>\nAfter you\u2019ve looked after your family and friends, you may wish to leave a gift to a charity close to your heart.<\/h5>\nThe donation can be as small or large as you like.<\/h5>\nMake a note of their charity name, address and registered charity number to give to your professional advisor.<\/h5>\nWe can provide you with these details for our member charities, or you can find details for all registered charities in the UK and Wales on the Charity Commission website.<\/h5>\nDetails for charities in Scotland can be found on the Office of the Scottish Charity Regulator.<\/h5>\n<\/h5>\n4. Who do you wish to be executors and guardians?<\/strong><\/span><\/h4>\nAnother important consideration when making a Will is the appointment of your executors \u2013 the people who will deal with your estate in the event of your death \u2013 as well as guardians for your children.<\/h5>\nIdeally, executors should be business-minded family or friends or could be professional advisors.<\/h5>\nRead our guidance for executors.<\/h5>\n<\/h5>\n5. How do you want to store your Will?<\/strong><\/span><\/h4>\nOnce written, most professional advisors will offer to store your Will for you so that the Will is not lost.<\/h5>\nIt may also be worth considering storing your Will with the Her Majesty\u2019s Court Service. When your Will is complete, you can also register it with a number of commercial organisations that operate Will registration schemes.<\/h5>\n
<\/p>\n <\/div>\r\n \r\n
\r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Guidance for Executors \u2013 FAQs<\/span>\r\n <\/div>\r\n \r\n We understand that administering the estate of a loved one can be difficult, but it can also be rewarding. As an executor or personal representative (in cases where there is no Will), you are responsible for ensuring that someone\u2019s last wishes are fulfilled.<\/h5>\nIf you\u2019re an executor, we can answer some of your questions in order to help you understand your duties.<\/h5>\nWhat is my role?<\/span><\/h5>\nAs an executor, your responsibilities include:<\/h5>\n\n- \n
Ensuring that all the property owned by the deceased person is kept safe and secure, as soon as possible after their death.<\/h5>\n<\/li>\n
- \n
Ensuring that any property or items of value are adequately insured.<\/h5>\n<\/li>\n
- \n
Collecting and, if appropriate, convert (sell) any assets due to the deceased person\u2019s estate<\/h5>\n<\/li>\n
- \n
Paying any outstanding taxes and debts (out of the deceased person\u2019s estate)<\/h5>\n<\/li>\n
- \n
Distributing the estate to those who are entitled to it under either the terms of the Will or intestacy<\/h5>\n<\/li>\n
- \n
Delivering up your grant of probate if required to by a court.<\/h5>\n<\/li>\n
- \n
What should I do if a charity is mentioned in the Will?<\/h5>\n<\/li>\n
- \n
If there is a named charity beneficiary in a Will, you should contact their legacy team to discuss the gift with them. Each charity will have different preferences on how they would like to receive legacy payments, so it is best to speak with them directly about this.<\/h5>\n<\/li>\n
- \n
What details does the charity need?<\/h5>\n<\/li>\n<\/ul>\nIn your role as executor, the named charity would find it useful to be informed of the following:<\/h5>\n\n- \n
1. Details of the person who has passed away:<\/h5>\nFull name<\/h5>\nLast known address and any other recent addresses<\/h5>\nDate of Will<\/h5>\nDate of death<\/h5>\nWhether the deceased was a lifetime supporter of the charity (this<\/h5>\nwould enable them to put a stop to any future promotional mailings)<\/h5>\n2. Some beneficiaries are entitled to a copy of the Will. For example, if they receive a share of the residue of the estate (what is left after any specific gifts have been made), you should provide such beneficiaries with this and also a list of the late benefactor\u2019s assets and liabilities at the date of death.<\/h5>\n3. You should also provide them with reasonable updates about the estate administration. This will allow them to understand the nature and contents of the estate and approve any key steps which you take during the administration, for example agreeing the sale price of a property. Such consultation can avoid problems arising in the future.<\/h5>\n<\/li>\n<\/ul>\nHow is the tax calculated?<\/span><\/h5>\nUK registered charities are exempt from paying Inheritance Tax, Capital Gains Tax and Income Tax.<\/h5>\nIf the estate contains a mixture of charitable and non-chartable beneficiaries, you should check the percentage of Inheritance Tax payable. If 10% or more of the net estate is left to charitable beneficiaries, a lower amount of Inheritance Tax (36%) may be payable on the non-charitable parts of the estate. You can check whether or not this lower rate will apply at Gov.uk.<\/h5>\nWho can I contact for further guidance?<\/span><\/h5>\nIf you are acting as an executor, you can find a solicitor in your local area who will be able to help answer any further questions you have.<\/h5>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Useful organisations<\/span>\r\n <\/div>\r\n \r\n To find out more about making a Will and leaving a gift to charity, please take a look at the links below:<\/h5>\n\n- \n
Gov.uk<\/h5>\n<\/li>\n
- \n
Citizen\u2019s Advice<\/h5>\n<\/li>\n
- \n
Society of Trust and Estate Practitioners<\/h5>\n<\/li>\n
- \n
The Law Society<\/h5>\n<\/li>\n
- \n
The Law Society Scotland<\/h5>\n<\/li>\n
- \n
The Law Society of Northern Ireland<\/h5>\n<\/li>\n
- \n
Institute of Legacy Management<\/h5>\n<\/li>\n
- \n
Institute of Professional Willwriters<\/h5>\n<\/h5>\n<\/li>\n
- \n
Certainty National Will Register<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for England and Wales<\/h5>\n<\/h5>\n<\/li>\n
- \n
OSCR \u2013 Office of the Scottish Charity Regulator<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for Northern Ireland<\/h5>\n<\/h5>\n<\/li>\n
- \n
Co-op Legal Services<\/h5>\n<\/li>\n<\/ul>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Will writing jargon buster<\/span>\r\n <\/div>\r\n \r\n When it comes to Will writing, you might come across some terms that you haven\u2019t heard before. Here are the explanations for some of the most common terms used in Will writing.<\/h5>\nBeneficiary<\/strong><\/span><\/em>:\u00a0 A person, or an organisation, to whom you leave something in your Will.<\/h5>\nBequest<\/strong><\/em>:<\/span>\u00a0 A term for a gift that you leave to a person or organisation in your will. There are several different types of bequest, but the main ones are:<\/h5>\nResiduary bequest:<\/strong><\/em><\/span>\u00a0 A gift made of what is left of your estate after all other gifts have been handed out and debts paid off. To do this you may leave either the total of the residue or a percentage.<\/h5>\nPecuniary bequest<\/span>:<\/strong>\u00a0 <\/em>A gift made of a fixed sum of money. Unfortunately, the effect of inflation means that the value of a pecuniary gift will decrease over time.<\/h5>\nSpecific bequest<\/span>:<\/strong><\/em>\u00a0 A particular named item left as a gift in your Will. For example, a piece of jewellery, furniture or a painting.<\/h5>\nCodicil<\/span>:<\/strong>\u00a0 <\/em>A codicil is a document used to change a Will that has already been made. You can find more information about codicils in how to leave a gift to charity in your Will.<\/h5>\nEstate<\/span>:<\/strong><\/em>\u00a0 Your estate is the total sum of your personal possessions, property and money minus any liabilities.<\/h5>\nExecutor(s)<\/span>:<\/strong><\/em>\u00a0 The person or people that you appoint to ensure your final wishes are carried out. These can be professionals, friends, family members or institutions such as banks and some charities.<\/h5>\nGuardian<\/strong><\/em><\/span>:\u00a0 Someone who is responsible for children until they become 18.<\/h5>\nInheritance Tax<\/span>:<\/strong><\/em>\u00a0 This tax is paid on the portion of your estate that is above the nil-rate threshold.<\/h5>\nIntestate<\/strong><\/em><\/span>:\u00a0 The word used to describe someone who has died without a Will.<\/h5>\nLegacy<\/strong><\/em><\/span>:\u00a0 Another word for a gift or bequest left in your Will.<\/h5>\nProbate<\/strong><\/em><\/span>:\u00a0 When somebody dies leaving a Will, their executors will usually need to apply for a grant of probate. Once this is obtained, the executors can deal with the wishes expressed in the Will and distribute the gifts that have been left.<\/h5>\nResidue<\/strong><\/em><\/span>:\u00a0 This is what is left of your estate after any outstanding debts, taxes, pecuniary and specific bequests have been distributed to beneficiaries.<\/h5>\nTestator<\/strong><\/em><\/span>:\u00a0 The name given to a person who has made a Will.<\/h5>\nTrustee(s)<\/span>:<\/strong><\/em>\u00a0 One or more people who manage a trust.<\/h5>\n <\/div>\r\n <\/div>\r\n\r\n\r\n\r\n <\/div><\/p>","protected":false},"excerpt":{"rendered":"Miala tsiny fa tsy mbola misy amin’ny teny malagasy ity lahatsoratra ity. Your legacy can help build a future of hope in Madagascar A legacy to Money for Madagascar is a powerful expression of your commitment to building a brighter future for the people and wildlife of Madagascar. Deciding who to remember in your Will is a very personal decision.\u00a0 After considering the needs of your loved ones, if you feel able to leave a gift to charity, please consider leaving a legacy to Money for Madagascar. Your gift could help communities in Madagascar to overcome poverty and protect their… <\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-no-sidebar.php","meta":{"footnotes":""},"class_list":["post-216","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/comments?post=216"}],"version-history":[{"count":5,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions"}],"predecessor-version":[{"id":16899,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions\/16899"}],"wp:attachment":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/media?parent=216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n\u00a312,000<\/span><\/h4>\n
\u00a312,000<\/span><\/h4>\n<\/span><\/h4>\nCould transform the life prospects of generations of children in an isolated rural community by enabling their school to participate in our Education for Life programme. This integrated programme improves the life chances of impoverished children by improving their health, nutrition and quality of education.<\/span><\/h5>\n<\/div>\n\n\u00a35,000<\/span><\/h4>\nCould help secure the future for endangered lemur species by planting 10,000 indigenous trees in an innovative tropical reforestation programme linking protected areas with wildlife corridors around the Andasibe National Park.<\/span><\/h5>\n<\/div>\n\n\u00a33,600<\/span><\/h4>\nCould save a vulnerable or abandoned child from destitution, providing them with 6 years of safe residential care and education.<\/span><\/h5>\n<\/div>\n\n\u00a33,000<\/span><\/h4>\nCould provide safe drinking water to a rural community protecting hundreds of families from waterbourne diseases, which are the biggest killer in Madagascar.<\/span><\/h5>\n<\/div>\n\r\n \r\n <\/div>\r\n\r\n \r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Making a Will \u2013 things to consider<\/span>\r\n <\/div>\r\n \r\n Your Will is your chance to take care of everything that\u2019s important to you. Family and loved ones obviously always come first.<\/h5>\nMany people believe that writing a Will is complicated, but in fact it\u2019s relatively straightforward. When making or updating your Will you should always seek professional advice.<\/h5>\nHere are a few important things you should consider before you speak to a professional advisor.<\/h5>\n1. What is the value of your estate?<\/strong><\/span><\/h4>\nOne of the most important things you will have to work out is the value of your estate.<\/h5>\nThis means calculating the value of everything you own, including:
\nProperty
\nCar
\nSavings
\nPersonal possessions, including sentimental objects
\nYour pension
\nAny investments you\u2019ve made
\nYour business, if you own or part-own one<\/h5>\nAfter adding up the value of all your assets, you need to minus any existing debts. These might include mortgages, loans, overdrafts and credit or extended purchase agreements.<\/h5>\nYou need to check with your pension provider(s) to see if your pension can be included as an asset \u2013 different pension plans have different rules. For more information on this visit www.pensionsadvisoryservice.org.uk<\/h5>\n<\/h5>\n2. How do you want your estate to be distributed?<\/strong><\/span><\/h4>\nGifts can be anything you own and can take the form of specific items, cash amounts, or a percentage of your estate.\u00a0 By making your Will you can make provisions for the age at which young beneficiaries receive their gift or share of your estate, as well as providing for beneficiaries with health or care needs.\u00a0 You may choose to use your Will to pass on business interests: for instance you could leave shares in the family company to a son or daughter who has come into the business. This is a very tax-efficient way to pass on your assets.
\nYou can also specify family and friends who you wish to pass on personal items to.<\/h5>\nFor more information on choosing how to split your estate, visit www.moneyadviceservice.org.uk<\/h5>\n<\/h5>\n3. Who has made a difference to your life?<\/strong><\/span><\/h4>\nHas a charity helped you or somebody you love? Which causes are important to you?<\/h5>\nAfter you\u2019ve looked after your family and friends, you may wish to leave a gift to a charity close to your heart.<\/h5>\nThe donation can be as small or large as you like.<\/h5>\nMake a note of their charity name, address and registered charity number to give to your professional advisor.<\/h5>\nWe can provide you with these details for our member charities, or you can find details for all registered charities in the UK and Wales on the Charity Commission website.<\/h5>\nDetails for charities in Scotland can be found on the Office of the Scottish Charity Regulator.<\/h5>\n<\/h5>\n4. Who do you wish to be executors and guardians?<\/strong><\/span><\/h4>\nAnother important consideration when making a Will is the appointment of your executors \u2013 the people who will deal with your estate in the event of your death \u2013 as well as guardians for your children.<\/h5>\nIdeally, executors should be business-minded family or friends or could be professional advisors.<\/h5>\nRead our guidance for executors.<\/h5>\n<\/h5>\n5. How do you want to store your Will?<\/strong><\/span><\/h4>\nOnce written, most professional advisors will offer to store your Will for you so that the Will is not lost.<\/h5>\nIt may also be worth considering storing your Will with the Her Majesty\u2019s Court Service. When your Will is complete, you can also register it with a number of commercial organisations that operate Will registration schemes.<\/h5>\n
<\/p>\n <\/div>\r\n \r\n
\r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Guidance for Executors \u2013 FAQs<\/span>\r\n <\/div>\r\n \r\n We understand that administering the estate of a loved one can be difficult, but it can also be rewarding. As an executor or personal representative (in cases where there is no Will), you are responsible for ensuring that someone\u2019s last wishes are fulfilled.<\/h5>\nIf you\u2019re an executor, we can answer some of your questions in order to help you understand your duties.<\/h5>\nWhat is my role?<\/span><\/h5>\nAs an executor, your responsibilities include:<\/h5>\n\n- \n
Ensuring that all the property owned by the deceased person is kept safe and secure, as soon as possible after their death.<\/h5>\n<\/li>\n
- \n
Ensuring that any property or items of value are adequately insured.<\/h5>\n<\/li>\n
- \n
Collecting and, if appropriate, convert (sell) any assets due to the deceased person\u2019s estate<\/h5>\n<\/li>\n
- \n
Paying any outstanding taxes and debts (out of the deceased person\u2019s estate)<\/h5>\n<\/li>\n
- \n
Distributing the estate to those who are entitled to it under either the terms of the Will or intestacy<\/h5>\n<\/li>\n
- \n
Delivering up your grant of probate if required to by a court.<\/h5>\n<\/li>\n
- \n
What should I do if a charity is mentioned in the Will?<\/h5>\n<\/li>\n
- \n
If there is a named charity beneficiary in a Will, you should contact their legacy team to discuss the gift with them. Each charity will have different preferences on how they would like to receive legacy payments, so it is best to speak with them directly about this.<\/h5>\n<\/li>\n
- \n
What details does the charity need?<\/h5>\n<\/li>\n<\/ul>\nIn your role as executor, the named charity would find it useful to be informed of the following:<\/h5>\n\n- \n
1. Details of the person who has passed away:<\/h5>\nFull name<\/h5>\nLast known address and any other recent addresses<\/h5>\nDate of Will<\/h5>\nDate of death<\/h5>\nWhether the deceased was a lifetime supporter of the charity (this<\/h5>\nwould enable them to put a stop to any future promotional mailings)<\/h5>\n2. Some beneficiaries are entitled to a copy of the Will. For example, if they receive a share of the residue of the estate (what is left after any specific gifts have been made), you should provide such beneficiaries with this and also a list of the late benefactor\u2019s assets and liabilities at the date of death.<\/h5>\n3. You should also provide them with reasonable updates about the estate administration. This will allow them to understand the nature and contents of the estate and approve any key steps which you take during the administration, for example agreeing the sale price of a property. Such consultation can avoid problems arising in the future.<\/h5>\n<\/li>\n<\/ul>\nHow is the tax calculated?<\/span><\/h5>\nUK registered charities are exempt from paying Inheritance Tax, Capital Gains Tax and Income Tax.<\/h5>\nIf the estate contains a mixture of charitable and non-chartable beneficiaries, you should check the percentage of Inheritance Tax payable. If 10% or more of the net estate is left to charitable beneficiaries, a lower amount of Inheritance Tax (36%) may be payable on the non-charitable parts of the estate. You can check whether or not this lower rate will apply at Gov.uk.<\/h5>\nWho can I contact for further guidance?<\/span><\/h5>\nIf you are acting as an executor, you can find a solicitor in your local area who will be able to help answer any further questions you have.<\/h5>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Useful organisations<\/span>\r\n <\/div>\r\n \r\n To find out more about making a Will and leaving a gift to charity, please take a look at the links below:<\/h5>\n\n- \n
Gov.uk<\/h5>\n<\/li>\n
- \n
Citizen\u2019s Advice<\/h5>\n<\/li>\n
- \n
Society of Trust and Estate Practitioners<\/h5>\n<\/li>\n
- \n
The Law Society<\/h5>\n<\/li>\n
- \n
The Law Society Scotland<\/h5>\n<\/li>\n
- \n
The Law Society of Northern Ireland<\/h5>\n<\/li>\n
- \n
Institute of Legacy Management<\/h5>\n<\/li>\n
- \n
Institute of Professional Willwriters<\/h5>\n<\/h5>\n<\/li>\n
- \n
Certainty National Will Register<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for England and Wales<\/h5>\n<\/h5>\n<\/li>\n
- \n
OSCR \u2013 Office of the Scottish Charity Regulator<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for Northern Ireland<\/h5>\n<\/h5>\n<\/li>\n
- \n
Co-op Legal Services<\/h5>\n<\/li>\n<\/ul>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Will writing jargon buster<\/span>\r\n <\/div>\r\n \r\n When it comes to Will writing, you might come across some terms that you haven\u2019t heard before. Here are the explanations for some of the most common terms used in Will writing.<\/h5>\nBeneficiary<\/strong><\/span><\/em>:\u00a0 A person, or an organisation, to whom you leave something in your Will.<\/h5>\nBequest<\/strong><\/em>:<\/span>\u00a0 A term for a gift that you leave to a person or organisation in your will. There are several different types of bequest, but the main ones are:<\/h5>\nResiduary bequest:<\/strong><\/em><\/span>\u00a0 A gift made of what is left of your estate after all other gifts have been handed out and debts paid off. To do this you may leave either the total of the residue or a percentage.<\/h5>\nPecuniary bequest<\/span>:<\/strong>\u00a0 <\/em>A gift made of a fixed sum of money. Unfortunately, the effect of inflation means that the value of a pecuniary gift will decrease over time.<\/h5>\nSpecific bequest<\/span>:<\/strong><\/em>\u00a0 A particular named item left as a gift in your Will. For example, a piece of jewellery, furniture or a painting.<\/h5>\nCodicil<\/span>:<\/strong>\u00a0 <\/em>A codicil is a document used to change a Will that has already been made. You can find more information about codicils in how to leave a gift to charity in your Will.<\/h5>\nEstate<\/span>:<\/strong><\/em>\u00a0 Your estate is the total sum of your personal possessions, property and money minus any liabilities.<\/h5>\nExecutor(s)<\/span>:<\/strong><\/em>\u00a0 The person or people that you appoint to ensure your final wishes are carried out. These can be professionals, friends, family members or institutions such as banks and some charities.<\/h5>\nGuardian<\/strong><\/em><\/span>:\u00a0 Someone who is responsible for children until they become 18.<\/h5>\nInheritance Tax<\/span>:<\/strong><\/em>\u00a0 This tax is paid on the portion of your estate that is above the nil-rate threshold.<\/h5>\nIntestate<\/strong><\/em><\/span>:\u00a0 The word used to describe someone who has died without a Will.<\/h5>\nLegacy<\/strong><\/em><\/span>:\u00a0 Another word for a gift or bequest left in your Will.<\/h5>\nProbate<\/strong><\/em><\/span>:\u00a0 When somebody dies leaving a Will, their executors will usually need to apply for a grant of probate. Once this is obtained, the executors can deal with the wishes expressed in the Will and distribute the gifts that have been left.<\/h5>\nResidue<\/strong><\/em><\/span>:\u00a0 This is what is left of your estate after any outstanding debts, taxes, pecuniary and specific bequests have been distributed to beneficiaries.<\/h5>\nTestator<\/strong><\/em><\/span>:\u00a0 The name given to a person who has made a Will.<\/h5>\nTrustee(s)<\/span>:<\/strong><\/em>\u00a0 One or more people who manage a trust.<\/h5>\n <\/div>\r\n <\/div>\r\n\r\n\r\n\r\n <\/div><\/p>","protected":false},"excerpt":{"rendered":"Miala tsiny fa tsy mbola misy amin’ny teny malagasy ity lahatsoratra ity. Your legacy can help build a future of hope in Madagascar A legacy to Money for Madagascar is a powerful expression of your commitment to building a brighter future for the people and wildlife of Madagascar. Deciding who to remember in your Will is a very personal decision.\u00a0 After considering the needs of your loved ones, if you feel able to leave a gift to charity, please consider leaving a legacy to Money for Madagascar. Your gift could help communities in Madagascar to overcome poverty and protect their… <\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-no-sidebar.php","meta":{"footnotes":""},"class_list":["post-216","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/comments?post=216"}],"version-history":[{"count":5,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions"}],"predecessor-version":[{"id":16899,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions\/16899"}],"wp:attachment":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/media?parent=216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
<\/span><\/h4>\nCould transform the life prospects of generations of children in an isolated rural community by enabling their school to participate in our Education for Life programme. This integrated programme improves the life chances of impoverished children by improving their health, nutrition and quality of education.<\/span><\/h5>\n<\/div>\n\n\u00a35,000<\/span><\/h4>\nCould help secure the future for endangered lemur species by planting 10,000 indigenous trees in an innovative tropical reforestation programme linking protected areas with wildlife corridors around the Andasibe National Park.<\/span><\/h5>\n<\/div>\n\n\u00a33,600<\/span><\/h4>\nCould save a vulnerable or abandoned child from destitution, providing them with 6 years of safe residential care and education.<\/span><\/h5>\n<\/div>\n\n\u00a33,000<\/span><\/h4>\nCould provide safe drinking water to a rural community protecting hundreds of families from waterbourne diseases, which are the biggest killer in Madagascar.<\/span><\/h5>\n<\/div>\n\r\n \r\n <\/div>\r\n\r\n \r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Making a Will \u2013 things to consider<\/span>\r\n <\/div>\r\n \r\n Your Will is your chance to take care of everything that\u2019s important to you. Family and loved ones obviously always come first.<\/h5>\nMany people believe that writing a Will is complicated, but in fact it\u2019s relatively straightforward. When making or updating your Will you should always seek professional advice.<\/h5>\nHere are a few important things you should consider before you speak to a professional advisor.<\/h5>\n1. What is the value of your estate?<\/strong><\/span><\/h4>\nOne of the most important things you will have to work out is the value of your estate.<\/h5>\nThis means calculating the value of everything you own, including:
\nProperty
\nCar
\nSavings
\nPersonal possessions, including sentimental objects
\nYour pension
\nAny investments you\u2019ve made
\nYour business, if you own or part-own one<\/h5>\nAfter adding up the value of all your assets, you need to minus any existing debts. These might include mortgages, loans, overdrafts and credit or extended purchase agreements.<\/h5>\nYou need to check with your pension provider(s) to see if your pension can be included as an asset \u2013 different pension plans have different rules. For more information on this visit www.pensionsadvisoryservice.org.uk<\/h5>\n<\/h5>\n2. How do you want your estate to be distributed?<\/strong><\/span><\/h4>\nGifts can be anything you own and can take the form of specific items, cash amounts, or a percentage of your estate.\u00a0 By making your Will you can make provisions for the age at which young beneficiaries receive their gift or share of your estate, as well as providing for beneficiaries with health or care needs.\u00a0 You may choose to use your Will to pass on business interests: for instance you could leave shares in the family company to a son or daughter who has come into the business. This is a very tax-efficient way to pass on your assets.
\nYou can also specify family and friends who you wish to pass on personal items to.<\/h5>\nFor more information on choosing how to split your estate, visit www.moneyadviceservice.org.uk<\/h5>\n<\/h5>\n3. Who has made a difference to your life?<\/strong><\/span><\/h4>\nHas a charity helped you or somebody you love? Which causes are important to you?<\/h5>\nAfter you\u2019ve looked after your family and friends, you may wish to leave a gift to a charity close to your heart.<\/h5>\nThe donation can be as small or large as you like.<\/h5>\nMake a note of their charity name, address and registered charity number to give to your professional advisor.<\/h5>\nWe can provide you with these details for our member charities, or you can find details for all registered charities in the UK and Wales on the Charity Commission website.<\/h5>\nDetails for charities in Scotland can be found on the Office of the Scottish Charity Regulator.<\/h5>\n<\/h5>\n4. Who do you wish to be executors and guardians?<\/strong><\/span><\/h4>\nAnother important consideration when making a Will is the appointment of your executors \u2013 the people who will deal with your estate in the event of your death \u2013 as well as guardians for your children.<\/h5>\nIdeally, executors should be business-minded family or friends or could be professional advisors.<\/h5>\nRead our guidance for executors.<\/h5>\n<\/h5>\n5. How do you want to store your Will?<\/strong><\/span><\/h4>\nOnce written, most professional advisors will offer to store your Will for you so that the Will is not lost.<\/h5>\nIt may also be worth considering storing your Will with the Her Majesty\u2019s Court Service. When your Will is complete, you can also register it with a number of commercial organisations that operate Will registration schemes.<\/h5>\n
<\/p>\n <\/div>\r\n \r\n
\r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Guidance for Executors \u2013 FAQs<\/span>\r\n <\/div>\r\n \r\n We understand that administering the estate of a loved one can be difficult, but it can also be rewarding. As an executor or personal representative (in cases where there is no Will), you are responsible for ensuring that someone\u2019s last wishes are fulfilled.<\/h5>\nIf you\u2019re an executor, we can answer some of your questions in order to help you understand your duties.<\/h5>\nWhat is my role?<\/span><\/h5>\nAs an executor, your responsibilities include:<\/h5>\n\n- \n
Ensuring that all the property owned by the deceased person is kept safe and secure, as soon as possible after their death.<\/h5>\n<\/li>\n
- \n
Ensuring that any property or items of value are adequately insured.<\/h5>\n<\/li>\n
- \n
Collecting and, if appropriate, convert (sell) any assets due to the deceased person\u2019s estate<\/h5>\n<\/li>\n
- \n
Paying any outstanding taxes and debts (out of the deceased person\u2019s estate)<\/h5>\n<\/li>\n
- \n
Distributing the estate to those who are entitled to it under either the terms of the Will or intestacy<\/h5>\n<\/li>\n
- \n
Delivering up your grant of probate if required to by a court.<\/h5>\n<\/li>\n
- \n
What should I do if a charity is mentioned in the Will?<\/h5>\n<\/li>\n
- \n
If there is a named charity beneficiary in a Will, you should contact their legacy team to discuss the gift with them. Each charity will have different preferences on how they would like to receive legacy payments, so it is best to speak with them directly about this.<\/h5>\n<\/li>\n
- \n
What details does the charity need?<\/h5>\n<\/li>\n<\/ul>\nIn your role as executor, the named charity would find it useful to be informed of the following:<\/h5>\n\n- \n
1. Details of the person who has passed away:<\/h5>\nFull name<\/h5>\nLast known address and any other recent addresses<\/h5>\nDate of Will<\/h5>\nDate of death<\/h5>\nWhether the deceased was a lifetime supporter of the charity (this<\/h5>\nwould enable them to put a stop to any future promotional mailings)<\/h5>\n2. Some beneficiaries are entitled to a copy of the Will. For example, if they receive a share of the residue of the estate (what is left after any specific gifts have been made), you should provide such beneficiaries with this and also a list of the late benefactor\u2019s assets and liabilities at the date of death.<\/h5>\n3. You should also provide them with reasonable updates about the estate administration. This will allow them to understand the nature and contents of the estate and approve any key steps which you take during the administration, for example agreeing the sale price of a property. Such consultation can avoid problems arising in the future.<\/h5>\n<\/li>\n<\/ul>\nHow is the tax calculated?<\/span><\/h5>\nUK registered charities are exempt from paying Inheritance Tax, Capital Gains Tax and Income Tax.<\/h5>\nIf the estate contains a mixture of charitable and non-chartable beneficiaries, you should check the percentage of Inheritance Tax payable. If 10% or more of the net estate is left to charitable beneficiaries, a lower amount of Inheritance Tax (36%) may be payable on the non-charitable parts of the estate. You can check whether or not this lower rate will apply at Gov.uk.<\/h5>\nWho can I contact for further guidance?<\/span><\/h5>\nIf you are acting as an executor, you can find a solicitor in your local area who will be able to help answer any further questions you have.<\/h5>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Useful organisations<\/span>\r\n <\/div>\r\n \r\n To find out more about making a Will and leaving a gift to charity, please take a look at the links below:<\/h5>\n\n- \n
Gov.uk<\/h5>\n<\/li>\n
- \n
Citizen\u2019s Advice<\/h5>\n<\/li>\n
- \n
Society of Trust and Estate Practitioners<\/h5>\n<\/li>\n
- \n
The Law Society<\/h5>\n<\/li>\n
- \n
The Law Society Scotland<\/h5>\n<\/li>\n
- \n
The Law Society of Northern Ireland<\/h5>\n<\/li>\n
- \n
Institute of Legacy Management<\/h5>\n<\/li>\n
- \n
Institute of Professional Willwriters<\/h5>\n<\/h5>\n<\/li>\n
- \n
Certainty National Will Register<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for England and Wales<\/h5>\n<\/h5>\n<\/li>\n
- \n
OSCR \u2013 Office of the Scottish Charity Regulator<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for Northern Ireland<\/h5>\n<\/h5>\n<\/li>\n
- \n
Co-op Legal Services<\/h5>\n<\/li>\n<\/ul>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Will writing jargon buster<\/span>\r\n <\/div>\r\n \r\n When it comes to Will writing, you might come across some terms that you haven\u2019t heard before. Here are the explanations for some of the most common terms used in Will writing.<\/h5>\nBeneficiary<\/strong><\/span><\/em>:\u00a0 A person, or an organisation, to whom you leave something in your Will.<\/h5>\nBequest<\/strong><\/em>:<\/span>\u00a0 A term for a gift that you leave to a person or organisation in your will. There are several different types of bequest, but the main ones are:<\/h5>\nResiduary bequest:<\/strong><\/em><\/span>\u00a0 A gift made of what is left of your estate after all other gifts have been handed out and debts paid off. To do this you may leave either the total of the residue or a percentage.<\/h5>\nPecuniary bequest<\/span>:<\/strong>\u00a0 <\/em>A gift made of a fixed sum of money. Unfortunately, the effect of inflation means that the value of a pecuniary gift will decrease over time.<\/h5>\nSpecific bequest<\/span>:<\/strong><\/em>\u00a0 A particular named item left as a gift in your Will. For example, a piece of jewellery, furniture or a painting.<\/h5>\nCodicil<\/span>:<\/strong>\u00a0 <\/em>A codicil is a document used to change a Will that has already been made. You can find more information about codicils in how to leave a gift to charity in your Will.<\/h5>\nEstate<\/span>:<\/strong><\/em>\u00a0 Your estate is the total sum of your personal possessions, property and money minus any liabilities.<\/h5>\nExecutor(s)<\/span>:<\/strong><\/em>\u00a0 The person or people that you appoint to ensure your final wishes are carried out. These can be professionals, friends, family members or institutions such as banks and some charities.<\/h5>\nGuardian<\/strong><\/em><\/span>:\u00a0 Someone who is responsible for children until they become 18.<\/h5>\nInheritance Tax<\/span>:<\/strong><\/em>\u00a0 This tax is paid on the portion of your estate that is above the nil-rate threshold.<\/h5>\nIntestate<\/strong><\/em><\/span>:\u00a0 The word used to describe someone who has died without a Will.<\/h5>\nLegacy<\/strong><\/em><\/span>:\u00a0 Another word for a gift or bequest left in your Will.<\/h5>\nProbate<\/strong><\/em><\/span>:\u00a0 When somebody dies leaving a Will, their executors will usually need to apply for a grant of probate. Once this is obtained, the executors can deal with the wishes expressed in the Will and distribute the gifts that have been left.<\/h5>\nResidue<\/strong><\/em><\/span>:\u00a0 This is what is left of your estate after any outstanding debts, taxes, pecuniary and specific bequests have been distributed to beneficiaries.<\/h5>\nTestator<\/strong><\/em><\/span>:\u00a0 The name given to a person who has made a Will.<\/h5>\nTrustee(s)<\/span>:<\/strong><\/em>\u00a0 One or more people who manage a trust.<\/h5>\n <\/div>\r\n <\/div>\r\n\r\n\r\n\r\n <\/div><\/p>","protected":false},"excerpt":{"rendered":"Miala tsiny fa tsy mbola misy amin’ny teny malagasy ity lahatsoratra ity. Your legacy can help build a future of hope in Madagascar A legacy to Money for Madagascar is a powerful expression of your commitment to building a brighter future for the people and wildlife of Madagascar. Deciding who to remember in your Will is a very personal decision.\u00a0 After considering the needs of your loved ones, if you feel able to leave a gift to charity, please consider leaving a legacy to Money for Madagascar. Your gift could help communities in Madagascar to overcome poverty and protect their… <\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-no-sidebar.php","meta":{"footnotes":""},"class_list":["post-216","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/comments?post=216"}],"version-history":[{"count":5,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions"}],"predecessor-version":[{"id":16899,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions\/16899"}],"wp:attachment":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/media?parent=216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\u00a35,000<\/span><\/h4>\nCould help secure the future for endangered lemur species by planting 10,000 indigenous trees in an innovative tropical reforestation programme linking protected areas with wildlife corridors around the Andasibe National Park.<\/span><\/h5>\n<\/div>\n\n\u00a33,600<\/span><\/h4>\nCould save a vulnerable or abandoned child from destitution, providing them with 6 years of safe residential care and education.<\/span><\/h5>\n<\/div>\n\n\u00a33,000<\/span><\/h4>\nCould provide safe drinking water to a rural community protecting hundreds of families from waterbourne diseases, which are the biggest killer in Madagascar.<\/span><\/h5>\n<\/div>\n\r\n \r\n <\/div>\r\n\r\n \r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Making a Will \u2013 things to consider<\/span>\r\n <\/div>\r\n \r\n Your Will is your chance to take care of everything that\u2019s important to you. Family and loved ones obviously always come first.<\/h5>\nMany people believe that writing a Will is complicated, but in fact it\u2019s relatively straightforward. When making or updating your Will you should always seek professional advice.<\/h5>\nHere are a few important things you should consider before you speak to a professional advisor.<\/h5>\n1. What is the value of your estate?<\/strong><\/span><\/h4>\nOne of the most important things you will have to work out is the value of your estate.<\/h5>\nThis means calculating the value of everything you own, including:
\nProperty
\nCar
\nSavings
\nPersonal possessions, including sentimental objects
\nYour pension
\nAny investments you\u2019ve made
\nYour business, if you own or part-own one<\/h5>\nAfter adding up the value of all your assets, you need to minus any existing debts. These might include mortgages, loans, overdrafts and credit or extended purchase agreements.<\/h5>\nYou need to check with your pension provider(s) to see if your pension can be included as an asset \u2013 different pension plans have different rules. For more information on this visit www.pensionsadvisoryservice.org.uk<\/h5>\n<\/h5>\n2. How do you want your estate to be distributed?<\/strong><\/span><\/h4>\nGifts can be anything you own and can take the form of specific items, cash amounts, or a percentage of your estate.\u00a0 By making your Will you can make provisions for the age at which young beneficiaries receive their gift or share of your estate, as well as providing for beneficiaries with health or care needs.\u00a0 You may choose to use your Will to pass on business interests: for instance you could leave shares in the family company to a son or daughter who has come into the business. This is a very tax-efficient way to pass on your assets.
\nYou can also specify family and friends who you wish to pass on personal items to.<\/h5>\nFor more information on choosing how to split your estate, visit www.moneyadviceservice.org.uk<\/h5>\n<\/h5>\n3. Who has made a difference to your life?<\/strong><\/span><\/h4>\nHas a charity helped you or somebody you love? Which causes are important to you?<\/h5>\nAfter you\u2019ve looked after your family and friends, you may wish to leave a gift to a charity close to your heart.<\/h5>\nThe donation can be as small or large as you like.<\/h5>\nMake a note of their charity name, address and registered charity number to give to your professional advisor.<\/h5>\nWe can provide you with these details for our member charities, or you can find details for all registered charities in the UK and Wales on the Charity Commission website.<\/h5>\nDetails for charities in Scotland can be found on the Office of the Scottish Charity Regulator.<\/h5>\n<\/h5>\n4. Who do you wish to be executors and guardians?<\/strong><\/span><\/h4>\nAnother important consideration when making a Will is the appointment of your executors \u2013 the people who will deal with your estate in the event of your death \u2013 as well as guardians for your children.<\/h5>\nIdeally, executors should be business-minded family or friends or could be professional advisors.<\/h5>\nRead our guidance for executors.<\/h5>\n<\/h5>\n5. How do you want to store your Will?<\/strong><\/span><\/h4>\nOnce written, most professional advisors will offer to store your Will for you so that the Will is not lost.<\/h5>\nIt may also be worth considering storing your Will with the Her Majesty\u2019s Court Service. When your Will is complete, you can also register it with a number of commercial organisations that operate Will registration schemes.<\/h5>\n
<\/p>\n <\/div>\r\n \r\n
\r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Guidance for Executors \u2013 FAQs<\/span>\r\n <\/div>\r\n \r\n We understand that administering the estate of a loved one can be difficult, but it can also be rewarding. As an executor or personal representative (in cases where there is no Will), you are responsible for ensuring that someone\u2019s last wishes are fulfilled.<\/h5>\nIf you\u2019re an executor, we can answer some of your questions in order to help you understand your duties.<\/h5>\nWhat is my role?<\/span><\/h5>\nAs an executor, your responsibilities include:<\/h5>\n\n- \n
Ensuring that all the property owned by the deceased person is kept safe and secure, as soon as possible after their death.<\/h5>\n<\/li>\n
- \n
Ensuring that any property or items of value are adequately insured.<\/h5>\n<\/li>\n
- \n
Collecting and, if appropriate, convert (sell) any assets due to the deceased person\u2019s estate<\/h5>\n<\/li>\n
- \n
Paying any outstanding taxes and debts (out of the deceased person\u2019s estate)<\/h5>\n<\/li>\n
- \n
Distributing the estate to those who are entitled to it under either the terms of the Will or intestacy<\/h5>\n<\/li>\n
- \n
Delivering up your grant of probate if required to by a court.<\/h5>\n<\/li>\n
- \n
What should I do if a charity is mentioned in the Will?<\/h5>\n<\/li>\n
- \n
If there is a named charity beneficiary in a Will, you should contact their legacy team to discuss the gift with them. Each charity will have different preferences on how they would like to receive legacy payments, so it is best to speak with them directly about this.<\/h5>\n<\/li>\n
- \n
What details does the charity need?<\/h5>\n<\/li>\n<\/ul>\nIn your role as executor, the named charity would find it useful to be informed of the following:<\/h5>\n\n- \n
1. Details of the person who has passed away:<\/h5>\nFull name<\/h5>\nLast known address and any other recent addresses<\/h5>\nDate of Will<\/h5>\nDate of death<\/h5>\nWhether the deceased was a lifetime supporter of the charity (this<\/h5>\nwould enable them to put a stop to any future promotional mailings)<\/h5>\n2. Some beneficiaries are entitled to a copy of the Will. For example, if they receive a share of the residue of the estate (what is left after any specific gifts have been made), you should provide such beneficiaries with this and also a list of the late benefactor\u2019s assets and liabilities at the date of death.<\/h5>\n3. You should also provide them with reasonable updates about the estate administration. This will allow them to understand the nature and contents of the estate and approve any key steps which you take during the administration, for example agreeing the sale price of a property. Such consultation can avoid problems arising in the future.<\/h5>\n<\/li>\n<\/ul>\nHow is the tax calculated?<\/span><\/h5>\nUK registered charities are exempt from paying Inheritance Tax, Capital Gains Tax and Income Tax.<\/h5>\nIf the estate contains a mixture of charitable and non-chartable beneficiaries, you should check the percentage of Inheritance Tax payable. If 10% or more of the net estate is left to charitable beneficiaries, a lower amount of Inheritance Tax (36%) may be payable on the non-charitable parts of the estate. You can check whether or not this lower rate will apply at Gov.uk.<\/h5>\nWho can I contact for further guidance?<\/span><\/h5>\nIf you are acting as an executor, you can find a solicitor in your local area who will be able to help answer any further questions you have.<\/h5>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Useful organisations<\/span>\r\n <\/div>\r\n \r\n To find out more about making a Will and leaving a gift to charity, please take a look at the links below:<\/h5>\n\n- \n
Gov.uk<\/h5>\n<\/li>\n
- \n
Citizen\u2019s Advice<\/h5>\n<\/li>\n
- \n
Society of Trust and Estate Practitioners<\/h5>\n<\/li>\n
- \n
The Law Society<\/h5>\n<\/li>\n
- \n
The Law Society Scotland<\/h5>\n<\/li>\n
- \n
The Law Society of Northern Ireland<\/h5>\n<\/li>\n
- \n
Institute of Legacy Management<\/h5>\n<\/li>\n
- \n
Institute of Professional Willwriters<\/h5>\n<\/h5>\n<\/li>\n
- \n
Certainty National Will Register<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for England and Wales<\/h5>\n<\/h5>\n<\/li>\n
- \n
OSCR \u2013 Office of the Scottish Charity Regulator<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for Northern Ireland<\/h5>\n<\/h5>\n<\/li>\n
- \n
Co-op Legal Services<\/h5>\n<\/li>\n<\/ul>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Will writing jargon buster<\/span>\r\n <\/div>\r\n \r\n When it comes to Will writing, you might come across some terms that you haven\u2019t heard before. Here are the explanations for some of the most common terms used in Will writing.<\/h5>\nBeneficiary<\/strong><\/span><\/em>:\u00a0 A person, or an organisation, to whom you leave something in your Will.<\/h5>\nBequest<\/strong><\/em>:<\/span>\u00a0 A term for a gift that you leave to a person or organisation in your will. There are several different types of bequest, but the main ones are:<\/h5>\nResiduary bequest:<\/strong><\/em><\/span>\u00a0 A gift made of what is left of your estate after all other gifts have been handed out and debts paid off. To do this you may leave either the total of the residue or a percentage.<\/h5>\nPecuniary bequest<\/span>:<\/strong>\u00a0 <\/em>A gift made of a fixed sum of money. Unfortunately, the effect of inflation means that the value of a pecuniary gift will decrease over time.<\/h5>\nSpecific bequest<\/span>:<\/strong><\/em>\u00a0 A particular named item left as a gift in your Will. For example, a piece of jewellery, furniture or a painting.<\/h5>\nCodicil<\/span>:<\/strong>\u00a0 <\/em>A codicil is a document used to change a Will that has already been made. You can find more information about codicils in how to leave a gift to charity in your Will.<\/h5>\nEstate<\/span>:<\/strong><\/em>\u00a0 Your estate is the total sum of your personal possessions, property and money minus any liabilities.<\/h5>\nExecutor(s)<\/span>:<\/strong><\/em>\u00a0 The person or people that you appoint to ensure your final wishes are carried out. These can be professionals, friends, family members or institutions such as banks and some charities.<\/h5>\nGuardian<\/strong><\/em><\/span>:\u00a0 Someone who is responsible for children until they become 18.<\/h5>\nInheritance Tax<\/span>:<\/strong><\/em>\u00a0 This tax is paid on the portion of your estate that is above the nil-rate threshold.<\/h5>\nIntestate<\/strong><\/em><\/span>:\u00a0 The word used to describe someone who has died without a Will.<\/h5>\nLegacy<\/strong><\/em><\/span>:\u00a0 Another word for a gift or bequest left in your Will.<\/h5>\nProbate<\/strong><\/em><\/span>:\u00a0 When somebody dies leaving a Will, their executors will usually need to apply for a grant of probate. Once this is obtained, the executors can deal with the wishes expressed in the Will and distribute the gifts that have been left.<\/h5>\nResidue<\/strong><\/em><\/span>:\u00a0 This is what is left of your estate after any outstanding debts, taxes, pecuniary and specific bequests have been distributed to beneficiaries.<\/h5>\nTestator<\/strong><\/em><\/span>:\u00a0 The name given to a person who has made a Will.<\/h5>\nTrustee(s)<\/span>:<\/strong><\/em>\u00a0 One or more people who manage a trust.<\/h5>\n <\/div>\r\n <\/div>\r\n\r\n\r\n\r\n <\/div><\/p>","protected":false},"excerpt":{"rendered":"Miala tsiny fa tsy mbola misy amin’ny teny malagasy ity lahatsoratra ity. Your legacy can help build a future of hope in Madagascar A legacy to Money for Madagascar is a powerful expression of your commitment to building a brighter future for the people and wildlife of Madagascar. Deciding who to remember in your Will is a very personal decision.\u00a0 After considering the needs of your loved ones, if you feel able to leave a gift to charity, please consider leaving a legacy to Money for Madagascar. Your gift could help communities in Madagascar to overcome poverty and protect their… <\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-no-sidebar.php","meta":{"footnotes":""},"class_list":["post-216","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/comments?post=216"}],"version-history":[{"count":5,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions"}],"predecessor-version":[{"id":16899,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions\/16899"}],"wp:attachment":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/media?parent=216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n\u00a33,600
\u00a33,600<\/span><\/h4>\nCould save a vulnerable or abandoned child from destitution, providing them with 6 years of safe residential care and education.<\/span><\/h5>\n<\/div>\n\n\u00a33,000<\/span><\/h4>\nCould provide safe drinking water to a rural community protecting hundreds of families from waterbourne diseases, which are the biggest killer in Madagascar.<\/span><\/h5>\n<\/div>\n\r\n \r\n <\/div>\r\n\r\n \r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Making a Will \u2013 things to consider<\/span>\r\n <\/div>\r\n \r\n Your Will is your chance to take care of everything that\u2019s important to you. Family and loved ones obviously always come first.<\/h5>\nMany people believe that writing a Will is complicated, but in fact it\u2019s relatively straightforward. When making or updating your Will you should always seek professional advice.<\/h5>\nHere are a few important things you should consider before you speak to a professional advisor.<\/h5>\n1. What is the value of your estate?<\/strong><\/span><\/h4>\nOne of the most important things you will have to work out is the value of your estate.<\/h5>\nThis means calculating the value of everything you own, including:
\nProperty
\nCar
\nSavings
\nPersonal possessions, including sentimental objects
\nYour pension
\nAny investments you\u2019ve made
\nYour business, if you own or part-own one<\/h5>\nAfter adding up the value of all your assets, you need to minus any existing debts. These might include mortgages, loans, overdrafts and credit or extended purchase agreements.<\/h5>\nYou need to check with your pension provider(s) to see if your pension can be included as an asset \u2013 different pension plans have different rules. For more information on this visit www.pensionsadvisoryservice.org.uk<\/h5>\n<\/h5>\n2. How do you want your estate to be distributed?<\/strong><\/span><\/h4>\nGifts can be anything you own and can take the form of specific items, cash amounts, or a percentage of your estate.\u00a0 By making your Will you can make provisions for the age at which young beneficiaries receive their gift or share of your estate, as well as providing for beneficiaries with health or care needs.\u00a0 You may choose to use your Will to pass on business interests: for instance you could leave shares in the family company to a son or daughter who has come into the business. This is a very tax-efficient way to pass on your assets.
\nYou can also specify family and friends who you wish to pass on personal items to.<\/h5>\nFor more information on choosing how to split your estate, visit www.moneyadviceservice.org.uk<\/h5>\n<\/h5>\n3. Who has made a difference to your life?<\/strong><\/span><\/h4>\nHas a charity helped you or somebody you love? Which causes are important to you?<\/h5>\nAfter you\u2019ve looked after your family and friends, you may wish to leave a gift to a charity close to your heart.<\/h5>\nThe donation can be as small or large as you like.<\/h5>\nMake a note of their charity name, address and registered charity number to give to your professional advisor.<\/h5>\nWe can provide you with these details for our member charities, or you can find details for all registered charities in the UK and Wales on the Charity Commission website.<\/h5>\nDetails for charities in Scotland can be found on the Office of the Scottish Charity Regulator.<\/h5>\n<\/h5>\n4. Who do you wish to be executors and guardians?<\/strong><\/span><\/h4>\nAnother important consideration when making a Will is the appointment of your executors \u2013 the people who will deal with your estate in the event of your death \u2013 as well as guardians for your children.<\/h5>\nIdeally, executors should be business-minded family or friends or could be professional advisors.<\/h5>\nRead our guidance for executors.<\/h5>\n<\/h5>\n5. How do you want to store your Will?<\/strong><\/span><\/h4>\nOnce written, most professional advisors will offer to store your Will for you so that the Will is not lost.<\/h5>\nIt may also be worth considering storing your Will with the Her Majesty\u2019s Court Service. When your Will is complete, you can also register it with a number of commercial organisations that operate Will registration schemes.<\/h5>\n
<\/p>\n <\/div>\r\n \r\n
\r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Guidance for Executors \u2013 FAQs<\/span>\r\n <\/div>\r\n \r\n We understand that administering the estate of a loved one can be difficult, but it can also be rewarding. As an executor or personal representative (in cases where there is no Will), you are responsible for ensuring that someone\u2019s last wishes are fulfilled.<\/h5>\nIf you\u2019re an executor, we can answer some of your questions in order to help you understand your duties.<\/h5>\nWhat is my role?<\/span><\/h5>\nAs an executor, your responsibilities include:<\/h5>\n\n- \n
Ensuring that all the property owned by the deceased person is kept safe and secure, as soon as possible after their death.<\/h5>\n<\/li>\n
- \n
Ensuring that any property or items of value are adequately insured.<\/h5>\n<\/li>\n
- \n
Collecting and, if appropriate, convert (sell) any assets due to the deceased person\u2019s estate<\/h5>\n<\/li>\n
- \n
Paying any outstanding taxes and debts (out of the deceased person\u2019s estate)<\/h5>\n<\/li>\n
- \n
Distributing the estate to those who are entitled to it under either the terms of the Will or intestacy<\/h5>\n<\/li>\n
- \n
Delivering up your grant of probate if required to by a court.<\/h5>\n<\/li>\n
- \n
What should I do if a charity is mentioned in the Will?<\/h5>\n<\/li>\n
- \n
If there is a named charity beneficiary in a Will, you should contact their legacy team to discuss the gift with them. Each charity will have different preferences on how they would like to receive legacy payments, so it is best to speak with them directly about this.<\/h5>\n<\/li>\n
- \n
What details does the charity need?<\/h5>\n<\/li>\n<\/ul>\nIn your role as executor, the named charity would find it useful to be informed of the following:<\/h5>\n\n- \n
1. Details of the person who has passed away:<\/h5>\nFull name<\/h5>\nLast known address and any other recent addresses<\/h5>\nDate of Will<\/h5>\nDate of death<\/h5>\nWhether the deceased was a lifetime supporter of the charity (this<\/h5>\nwould enable them to put a stop to any future promotional mailings)<\/h5>\n2. Some beneficiaries are entitled to a copy of the Will. For example, if they receive a share of the residue of the estate (what is left after any specific gifts have been made), you should provide such beneficiaries with this and also a list of the late benefactor\u2019s assets and liabilities at the date of death.<\/h5>\n3. You should also provide them with reasonable updates about the estate administration. This will allow them to understand the nature and contents of the estate and approve any key steps which you take during the administration, for example agreeing the sale price of a property. Such consultation can avoid problems arising in the future.<\/h5>\n<\/li>\n<\/ul>\nHow is the tax calculated?<\/span><\/h5>\nUK registered charities are exempt from paying Inheritance Tax, Capital Gains Tax and Income Tax.<\/h5>\nIf the estate contains a mixture of charitable and non-chartable beneficiaries, you should check the percentage of Inheritance Tax payable. If 10% or more of the net estate is left to charitable beneficiaries, a lower amount of Inheritance Tax (36%) may be payable on the non-charitable parts of the estate. You can check whether or not this lower rate will apply at Gov.uk.<\/h5>\nWho can I contact for further guidance?<\/span><\/h5>\nIf you are acting as an executor, you can find a solicitor in your local area who will be able to help answer any further questions you have.<\/h5>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Useful organisations<\/span>\r\n <\/div>\r\n \r\n To find out more about making a Will and leaving a gift to charity, please take a look at the links below:<\/h5>\n\n- \n
Gov.uk<\/h5>\n<\/li>\n
- \n
Citizen\u2019s Advice<\/h5>\n<\/li>\n
- \n
Society of Trust and Estate Practitioners<\/h5>\n<\/li>\n
- \n
The Law Society<\/h5>\n<\/li>\n
- \n
The Law Society Scotland<\/h5>\n<\/li>\n
- \n
The Law Society of Northern Ireland<\/h5>\n<\/li>\n
- \n
Institute of Legacy Management<\/h5>\n<\/li>\n
- \n
Institute of Professional Willwriters<\/h5>\n<\/h5>\n<\/li>\n
- \n
Certainty National Will Register<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for England and Wales<\/h5>\n<\/h5>\n<\/li>\n
- \n
OSCR \u2013 Office of the Scottish Charity Regulator<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for Northern Ireland<\/h5>\n<\/h5>\n<\/li>\n
- \n
Co-op Legal Services<\/h5>\n<\/li>\n<\/ul>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Will writing jargon buster<\/span>\r\n <\/div>\r\n \r\n When it comes to Will writing, you might come across some terms that you haven\u2019t heard before. Here are the explanations for some of the most common terms used in Will writing.<\/h5>\nBeneficiary<\/strong><\/span><\/em>:\u00a0 A person, or an organisation, to whom you leave something in your Will.<\/h5>\nBequest<\/strong><\/em>:<\/span>\u00a0 A term for a gift that you leave to a person or organisation in your will. There are several different types of bequest, but the main ones are:<\/h5>\nResiduary bequest:<\/strong><\/em><\/span>\u00a0 A gift made of what is left of your estate after all other gifts have been handed out and debts paid off. To do this you may leave either the total of the residue or a percentage.<\/h5>\nPecuniary bequest<\/span>:<\/strong>\u00a0 <\/em>A gift made of a fixed sum of money. Unfortunately, the effect of inflation means that the value of a pecuniary gift will decrease over time.<\/h5>\nSpecific bequest<\/span>:<\/strong><\/em>\u00a0 A particular named item left as a gift in your Will. For example, a piece of jewellery, furniture or a painting.<\/h5>\nCodicil<\/span>:<\/strong>\u00a0 <\/em>A codicil is a document used to change a Will that has already been made. You can find more information about codicils in how to leave a gift to charity in your Will.<\/h5>\nEstate<\/span>:<\/strong><\/em>\u00a0 Your estate is the total sum of your personal possessions, property and money minus any liabilities.<\/h5>\nExecutor(s)<\/span>:<\/strong><\/em>\u00a0 The person or people that you appoint to ensure your final wishes are carried out. These can be professionals, friends, family members or institutions such as banks and some charities.<\/h5>\nGuardian<\/strong><\/em><\/span>:\u00a0 Someone who is responsible for children until they become 18.<\/h5>\nInheritance Tax<\/span>:<\/strong><\/em>\u00a0 This tax is paid on the portion of your estate that is above the nil-rate threshold.<\/h5>\nIntestate<\/strong><\/em><\/span>:\u00a0 The word used to describe someone who has died without a Will.<\/h5>\nLegacy<\/strong><\/em><\/span>:\u00a0 Another word for a gift or bequest left in your Will.<\/h5>\nProbate<\/strong><\/em><\/span>:\u00a0 When somebody dies leaving a Will, their executors will usually need to apply for a grant of probate. Once this is obtained, the executors can deal with the wishes expressed in the Will and distribute the gifts that have been left.<\/h5>\nResidue<\/strong><\/em><\/span>:\u00a0 This is what is left of your estate after any outstanding debts, taxes, pecuniary and specific bequests have been distributed to beneficiaries.<\/h5>\nTestator<\/strong><\/em><\/span>:\u00a0 The name given to a person who has made a Will.<\/h5>\nTrustee(s)<\/span>:<\/strong><\/em>\u00a0 One or more people who manage a trust.<\/h5>\n <\/div>\r\n <\/div>\r\n\r\n\r\n\r\n <\/div><\/p>","protected":false},"excerpt":{"rendered":"Miala tsiny fa tsy mbola misy amin’ny teny malagasy ity lahatsoratra ity. Your legacy can help build a future of hope in Madagascar A legacy to Money for Madagascar is a powerful expression of your commitment to building a brighter future for the people and wildlife of Madagascar. Deciding who to remember in your Will is a very personal decision.\u00a0 After considering the needs of your loved ones, if you feel able to leave a gift to charity, please consider leaving a legacy to Money for Madagascar. Your gift could help communities in Madagascar to overcome poverty and protect their… <\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-no-sidebar.php","meta":{"footnotes":""},"class_list":["post-216","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/comments?post=216"}],"version-history":[{"count":5,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions"}],"predecessor-version":[{"id":16899,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions\/16899"}],"wp:attachment":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/media?parent=216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n\u00a33,000<\/span>
\u00a33,000<\/span><\/h4>\nCould provide safe drinking water to a rural community protecting hundreds of families from waterbourne diseases, which are the biggest killer in Madagascar.<\/span><\/h5>\n<\/div>\n\r\n \r\n <\/div>\r\n\r\n \r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Making a Will \u2013 things to consider<\/span>\r\n <\/div>\r\n \r\n Your Will is your chance to take care of everything that\u2019s important to you. Family and loved ones obviously always come first.<\/h5>\nMany people believe that writing a Will is complicated, but in fact it\u2019s relatively straightforward. When making or updating your Will you should always seek professional advice.<\/h5>\nHere are a few important things you should consider before you speak to a professional advisor.<\/h5>\n1. What is the value of your estate?<\/strong><\/span><\/h4>\nOne of the most important things you will have to work out is the value of your estate.<\/h5>\nThis means calculating the value of everything you own, including:
\nProperty
\nCar
\nSavings
\nPersonal possessions, including sentimental objects
\nYour pension
\nAny investments you\u2019ve made
\nYour business, if you own or part-own one<\/h5>\nAfter adding up the value of all your assets, you need to minus any existing debts. These might include mortgages, loans, overdrafts and credit or extended purchase agreements.<\/h5>\nYou need to check with your pension provider(s) to see if your pension can be included as an asset \u2013 different pension plans have different rules. For more information on this visit www.pensionsadvisoryservice.org.uk<\/h5>\n<\/h5>\n2. How do you want your estate to be distributed?<\/strong><\/span><\/h4>\nGifts can be anything you own and can take the form of specific items, cash amounts, or a percentage of your estate.\u00a0 By making your Will you can make provisions for the age at which young beneficiaries receive their gift or share of your estate, as well as providing for beneficiaries with health or care needs.\u00a0 You may choose to use your Will to pass on business interests: for instance you could leave shares in the family company to a son or daughter who has come into the business. This is a very tax-efficient way to pass on your assets.
\nYou can also specify family and friends who you wish to pass on personal items to.<\/h5>\nFor more information on choosing how to split your estate, visit www.moneyadviceservice.org.uk<\/h5>\n<\/h5>\n3. Who has made a difference to your life?<\/strong><\/span><\/h4>\nHas a charity helped you or somebody you love? Which causes are important to you?<\/h5>\nAfter you\u2019ve looked after your family and friends, you may wish to leave a gift to a charity close to your heart.<\/h5>\nThe donation can be as small or large as you like.<\/h5>\nMake a note of their charity name, address and registered charity number to give to your professional advisor.<\/h5>\nWe can provide you with these details for our member charities, or you can find details for all registered charities in the UK and Wales on the Charity Commission website.<\/h5>\nDetails for charities in Scotland can be found on the Office of the Scottish Charity Regulator.<\/h5>\n<\/h5>\n4. Who do you wish to be executors and guardians?<\/strong><\/span><\/h4>\nAnother important consideration when making a Will is the appointment of your executors \u2013 the people who will deal with your estate in the event of your death \u2013 as well as guardians for your children.<\/h5>\nIdeally, executors should be business-minded family or friends or could be professional advisors.<\/h5>\nRead our guidance for executors.<\/h5>\n<\/h5>\n5. How do you want to store your Will?<\/strong><\/span><\/h4>\nOnce written, most professional advisors will offer to store your Will for you so that the Will is not lost.<\/h5>\nIt may also be worth considering storing your Will with the Her Majesty\u2019s Court Service. When your Will is complete, you can also register it with a number of commercial organisations that operate Will registration schemes.<\/h5>\n
<\/p>\n <\/div>\r\n \r\n
\r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Guidance for Executors \u2013 FAQs<\/span>\r\n <\/div>\r\n \r\n We understand that administering the estate of a loved one can be difficult, but it can also be rewarding. As an executor or personal representative (in cases where there is no Will), you are responsible for ensuring that someone\u2019s last wishes are fulfilled.<\/h5>\nIf you\u2019re an executor, we can answer some of your questions in order to help you understand your duties.<\/h5>\nWhat is my role?<\/span><\/h5>\nAs an executor, your responsibilities include:<\/h5>\n\n- \n
Ensuring that all the property owned by the deceased person is kept safe and secure, as soon as possible after their death.<\/h5>\n<\/li>\n
- \n
Ensuring that any property or items of value are adequately insured.<\/h5>\n<\/li>\n
- \n
Collecting and, if appropriate, convert (sell) any assets due to the deceased person\u2019s estate<\/h5>\n<\/li>\n
- \n
Paying any outstanding taxes and debts (out of the deceased person\u2019s estate)<\/h5>\n<\/li>\n
- \n
Distributing the estate to those who are entitled to it under either the terms of the Will or intestacy<\/h5>\n<\/li>\n
- \n
Delivering up your grant of probate if required to by a court.<\/h5>\n<\/li>\n
- \n
What should I do if a charity is mentioned in the Will?<\/h5>\n<\/li>\n
- \n
If there is a named charity beneficiary in a Will, you should contact their legacy team to discuss the gift with them. Each charity will have different preferences on how they would like to receive legacy payments, so it is best to speak with them directly about this.<\/h5>\n<\/li>\n
- \n
What details does the charity need?<\/h5>\n<\/li>\n<\/ul>\nIn your role as executor, the named charity would find it useful to be informed of the following:<\/h5>\n\n- \n
1. Details of the person who has passed away:<\/h5>\nFull name<\/h5>\nLast known address and any other recent addresses<\/h5>\nDate of Will<\/h5>\nDate of death<\/h5>\nWhether the deceased was a lifetime supporter of the charity (this<\/h5>\nwould enable them to put a stop to any future promotional mailings)<\/h5>\n2. Some beneficiaries are entitled to a copy of the Will. For example, if they receive a share of the residue of the estate (what is left after any specific gifts have been made), you should provide such beneficiaries with this and also a list of the late benefactor\u2019s assets and liabilities at the date of death.<\/h5>\n3. You should also provide them with reasonable updates about the estate administration. This will allow them to understand the nature and contents of the estate and approve any key steps which you take during the administration, for example agreeing the sale price of a property. Such consultation can avoid problems arising in the future.<\/h5>\n<\/li>\n<\/ul>\nHow is the tax calculated?<\/span><\/h5>\nUK registered charities are exempt from paying Inheritance Tax, Capital Gains Tax and Income Tax.<\/h5>\nIf the estate contains a mixture of charitable and non-chartable beneficiaries, you should check the percentage of Inheritance Tax payable. If 10% or more of the net estate is left to charitable beneficiaries, a lower amount of Inheritance Tax (36%) may be payable on the non-charitable parts of the estate. You can check whether or not this lower rate will apply at Gov.uk.<\/h5>\nWho can I contact for further guidance?<\/span><\/h5>\nIf you are acting as an executor, you can find a solicitor in your local area who will be able to help answer any further questions you have.<\/h5>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Useful organisations<\/span>\r\n <\/div>\r\n \r\n To find out more about making a Will and leaving a gift to charity, please take a look at the links below:<\/h5>\n\n- \n
Gov.uk<\/h5>\n<\/li>\n
- \n
Citizen\u2019s Advice<\/h5>\n<\/li>\n
- \n
Society of Trust and Estate Practitioners<\/h5>\n<\/li>\n
- \n
The Law Society<\/h5>\n<\/li>\n
- \n
The Law Society Scotland<\/h5>\n<\/li>\n
- \n
The Law Society of Northern Ireland<\/h5>\n<\/li>\n
- \n
Institute of Legacy Management<\/h5>\n<\/li>\n
- \n
Institute of Professional Willwriters<\/h5>\n<\/h5>\n<\/li>\n
- \n
Certainty National Will Register<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for England and Wales<\/h5>\n<\/h5>\n<\/li>\n
- \n
OSCR \u2013 Office of the Scottish Charity Regulator<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for Northern Ireland<\/h5>\n<\/h5>\n<\/li>\n
- \n
Co-op Legal Services<\/h5>\n<\/li>\n<\/ul>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Will writing jargon buster<\/span>\r\n <\/div>\r\n \r\n When it comes to Will writing, you might come across some terms that you haven\u2019t heard before. Here are the explanations for some of the most common terms used in Will writing.<\/h5>\nBeneficiary<\/strong><\/span><\/em>:\u00a0 A person, or an organisation, to whom you leave something in your Will.<\/h5>\nBequest<\/strong><\/em>:<\/span>\u00a0 A term for a gift that you leave to a person or organisation in your will. There are several different types of bequest, but the main ones are:<\/h5>\nResiduary bequest:<\/strong><\/em><\/span>\u00a0 A gift made of what is left of your estate after all other gifts have been handed out and debts paid off. To do this you may leave either the total of the residue or a percentage.<\/h5>\nPecuniary bequest<\/span>:<\/strong>\u00a0 <\/em>A gift made of a fixed sum of money. Unfortunately, the effect of inflation means that the value of a pecuniary gift will decrease over time.<\/h5>\nSpecific bequest<\/span>:<\/strong><\/em>\u00a0 A particular named item left as a gift in your Will. For example, a piece of jewellery, furniture or a painting.<\/h5>\nCodicil<\/span>:<\/strong>\u00a0 <\/em>A codicil is a document used to change a Will that has already been made. You can find more information about codicils in how to leave a gift to charity in your Will.<\/h5>\nEstate<\/span>:<\/strong><\/em>\u00a0 Your estate is the total sum of your personal possessions, property and money minus any liabilities.<\/h5>\nExecutor(s)<\/span>:<\/strong><\/em>\u00a0 The person or people that you appoint to ensure your final wishes are carried out. These can be professionals, friends, family members or institutions such as banks and some charities.<\/h5>\nGuardian<\/strong><\/em><\/span>:\u00a0 Someone who is responsible for children until they become 18.<\/h5>\nInheritance Tax<\/span>:<\/strong><\/em>\u00a0 This tax is paid on the portion of your estate that is above the nil-rate threshold.<\/h5>\nIntestate<\/strong><\/em><\/span>:\u00a0 The word used to describe someone who has died without a Will.<\/h5>\nLegacy<\/strong><\/em><\/span>:\u00a0 Another word for a gift or bequest left in your Will.<\/h5>\nProbate<\/strong><\/em><\/span>:\u00a0 When somebody dies leaving a Will, their executors will usually need to apply for a grant of probate. Once this is obtained, the executors can deal with the wishes expressed in the Will and distribute the gifts that have been left.<\/h5>\nResidue<\/strong><\/em><\/span>:\u00a0 This is what is left of your estate after any outstanding debts, taxes, pecuniary and specific bequests have been distributed to beneficiaries.<\/h5>\nTestator<\/strong><\/em><\/span>:\u00a0 The name given to a person who has made a Will.<\/h5>\nTrustee(s)<\/span>:<\/strong><\/em>\u00a0 One or more people who manage a trust.<\/h5>\n <\/div>\r\n <\/div>\r\n\r\n\r\n\r\n <\/div><\/p>","protected":false},"excerpt":{"rendered":"Miala tsiny fa tsy mbola misy amin’ny teny malagasy ity lahatsoratra ity. Your legacy can help build a future of hope in Madagascar A legacy to Money for Madagascar is a powerful expression of your commitment to building a brighter future for the people and wildlife of Madagascar. Deciding who to remember in your Will is a very personal decision.\u00a0 After considering the needs of your loved ones, if you feel able to leave a gift to charity, please consider leaving a legacy to Money for Madagascar. Your gift could help communities in Madagascar to overcome poverty and protect their… <\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-no-sidebar.php","meta":{"footnotes":""},"class_list":["post-216","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/comments?post=216"}],"version-history":[{"count":5,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions"}],"predecessor-version":[{"id":16899,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions\/16899"}],"wp:attachment":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/media?parent=216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\r\n
\r\n <\/div>\r\n\r\n
\r\n \r\n
\r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Making a Will \u2013 things to consider<\/span>\r\n <\/div>\r\n
\r\n Your Will is your chance to take care of everything that\u2019s important to you. Family and loved ones obviously always come first.<\/h5>\n
Your Will is your chance to take care of everything that\u2019s important to you. Family and loved ones obviously always come first.<\/h5>\nMany people believe that writing a Will is complicated, but in fact it\u2019s relatively straightforward. When making or updating your Will you should always seek professional advice.<\/h5>\nHere are a few important things you should consider before you speak to a professional advisor.<\/h5>\n1. What is the value of your estate?<\/strong><\/span><\/h4>\nOne of the most important things you will have to work out is the value of your estate.<\/h5>\nThis means calculating the value of everything you own, including:
\nProperty
\nCar
\nSavings
\nPersonal possessions, including sentimental objects
\nYour pension
\nAny investments you\u2019ve made
\nYour business, if you own or part-own one<\/h5>\nAfter adding up the value of all your assets, you need to minus any existing debts. These might include mortgages, loans, overdrafts and credit or extended purchase agreements.<\/h5>\nYou need to check with your pension provider(s) to see if your pension can be included as an asset \u2013 different pension plans have different rules. For more information on this visit www.pensionsadvisoryservice.org.uk<\/h5>\n<\/h5>\n2. How do you want your estate to be distributed?<\/strong><\/span><\/h4>\nGifts can be anything you own and can take the form of specific items, cash amounts, or a percentage of your estate.\u00a0 By making your Will you can make provisions for the age at which young beneficiaries receive their gift or share of your estate, as well as providing for beneficiaries with health or care needs.\u00a0 You may choose to use your Will to pass on business interests: for instance you could leave shares in the family company to a son or daughter who has come into the business. This is a very tax-efficient way to pass on your assets.
\nYou can also specify family and friends who you wish to pass on personal items to.<\/h5>\nFor more information on choosing how to split your estate, visit www.moneyadviceservice.org.uk<\/h5>\n<\/h5>\n3. Who has made a difference to your life?<\/strong><\/span><\/h4>\nHas a charity helped you or somebody you love? Which causes are important to you?<\/h5>\nAfter you\u2019ve looked after your family and friends, you may wish to leave a gift to a charity close to your heart.<\/h5>\nThe donation can be as small or large as you like.<\/h5>\nMake a note of their charity name, address and registered charity number to give to your professional advisor.<\/h5>\nWe can provide you with these details for our member charities, or you can find details for all registered charities in the UK and Wales on the Charity Commission website.<\/h5>\nDetails for charities in Scotland can be found on the Office of the Scottish Charity Regulator.<\/h5>\n<\/h5>\n4. Who do you wish to be executors and guardians?<\/strong><\/span><\/h4>\nAnother important consideration when making a Will is the appointment of your executors \u2013 the people who will deal with your estate in the event of your death \u2013 as well as guardians for your children.<\/h5>\nIdeally, executors should be business-minded family or friends or could be professional advisors.<\/h5>\nRead our guidance for executors.<\/h5>\n<\/h5>\n5. How do you want to store your Will?<\/strong><\/span><\/h4>\nOnce written, most professional advisors will offer to store your Will for you so that the Will is not lost.<\/h5>\nIt may also be worth considering storing your Will with the Her Majesty\u2019s Court Service. When your Will is complete, you can also register it with a number of commercial organisations that operate Will registration schemes.<\/h5>\n
<\/p>\n <\/div>\r\n \r\n
\r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Guidance for Executors \u2013 FAQs<\/span>\r\n <\/div>\r\n \r\n We understand that administering the estate of a loved one can be difficult, but it can also be rewarding. As an executor or personal representative (in cases where there is no Will), you are responsible for ensuring that someone\u2019s last wishes are fulfilled.<\/h5>\nIf you\u2019re an executor, we can answer some of your questions in order to help you understand your duties.<\/h5>\nWhat is my role?<\/span><\/h5>\nAs an executor, your responsibilities include:<\/h5>\n\n- \n
Ensuring that all the property owned by the deceased person is kept safe and secure, as soon as possible after their death.<\/h5>\n<\/li>\n
- \n
Ensuring that any property or items of value are adequately insured.<\/h5>\n<\/li>\n
- \n
Collecting and, if appropriate, convert (sell) any assets due to the deceased person\u2019s estate<\/h5>\n<\/li>\n
- \n
Paying any outstanding taxes and debts (out of the deceased person\u2019s estate)<\/h5>\n<\/li>\n
- \n
Distributing the estate to those who are entitled to it under either the terms of the Will or intestacy<\/h5>\n<\/li>\n
- \n
Delivering up your grant of probate if required to by a court.<\/h5>\n<\/li>\n
- \n
What should I do if a charity is mentioned in the Will?<\/h5>\n<\/li>\n
- \n
If there is a named charity beneficiary in a Will, you should contact their legacy team to discuss the gift with them. Each charity will have different preferences on how they would like to receive legacy payments, so it is best to speak with them directly about this.<\/h5>\n<\/li>\n
- \n
What details does the charity need?<\/h5>\n<\/li>\n<\/ul>\nIn your role as executor, the named charity would find it useful to be informed of the following:<\/h5>\n\n- \n
1. Details of the person who has passed away:<\/h5>\nFull name<\/h5>\nLast known address and any other recent addresses<\/h5>\nDate of Will<\/h5>\nDate of death<\/h5>\nWhether the deceased was a lifetime supporter of the charity (this<\/h5>\nwould enable them to put a stop to any future promotional mailings)<\/h5>\n2. Some beneficiaries are entitled to a copy of the Will. For example, if they receive a share of the residue of the estate (what is left after any specific gifts have been made), you should provide such beneficiaries with this and also a list of the late benefactor\u2019s assets and liabilities at the date of death.<\/h5>\n3. You should also provide them with reasonable updates about the estate administration. This will allow them to understand the nature and contents of the estate and approve any key steps which you take during the administration, for example agreeing the sale price of a property. Such consultation can avoid problems arising in the future.<\/h5>\n<\/li>\n<\/ul>\nHow is the tax calculated?<\/span><\/h5>\nUK registered charities are exempt from paying Inheritance Tax, Capital Gains Tax and Income Tax.<\/h5>\nIf the estate contains a mixture of charitable and non-chartable beneficiaries, you should check the percentage of Inheritance Tax payable. If 10% or more of the net estate is left to charitable beneficiaries, a lower amount of Inheritance Tax (36%) may be payable on the non-charitable parts of the estate. You can check whether or not this lower rate will apply at Gov.uk.<\/h5>\nWho can I contact for further guidance?<\/span><\/h5>\nIf you are acting as an executor, you can find a solicitor in your local area who will be able to help answer any further questions you have.<\/h5>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Useful organisations<\/span>\r\n <\/div>\r\n \r\n To find out more about making a Will and leaving a gift to charity, please take a look at the links below:<\/h5>\n\n- \n
Gov.uk<\/h5>\n<\/li>\n
- \n
Citizen\u2019s Advice<\/h5>\n<\/li>\n
- \n
Society of Trust and Estate Practitioners<\/h5>\n<\/li>\n
- \n
The Law Society<\/h5>\n<\/li>\n
- \n
The Law Society Scotland<\/h5>\n<\/li>\n
- \n
The Law Society of Northern Ireland<\/h5>\n<\/li>\n
- \n
Institute of Legacy Management<\/h5>\n<\/li>\n
- \n
Institute of Professional Willwriters<\/h5>\n<\/h5>\n<\/li>\n
- \n
Certainty National Will Register<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for England and Wales<\/h5>\n<\/h5>\n<\/li>\n
- \n
OSCR \u2013 Office of the Scottish Charity Regulator<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for Northern Ireland<\/h5>\n<\/h5>\n<\/li>\n
- \n
Co-op Legal Services<\/h5>\n<\/li>\n<\/ul>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Will writing jargon buster<\/span>\r\n <\/div>\r\n \r\n When it comes to Will writing, you might come across some terms that you haven\u2019t heard before. Here are the explanations for some of the most common terms used in Will writing.<\/h5>\nBeneficiary<\/strong><\/span><\/em>:\u00a0 A person, or an organisation, to whom you leave something in your Will.<\/h5>\nBequest<\/strong><\/em>:<\/span>\u00a0 A term for a gift that you leave to a person or organisation in your will. There are several different types of bequest, but the main ones are:<\/h5>\nResiduary bequest:<\/strong><\/em><\/span>\u00a0 A gift made of what is left of your estate after all other gifts have been handed out and debts paid off. To do this you may leave either the total of the residue or a percentage.<\/h5>\nPecuniary bequest<\/span>:<\/strong>\u00a0 <\/em>A gift made of a fixed sum of money. Unfortunately, the effect of inflation means that the value of a pecuniary gift will decrease over time.<\/h5>\nSpecific bequest<\/span>:<\/strong><\/em>\u00a0 A particular named item left as a gift in your Will. For example, a piece of jewellery, furniture or a painting.<\/h5>\nCodicil<\/span>:<\/strong>\u00a0 <\/em>A codicil is a document used to change a Will that has already been made. You can find more information about codicils in how to leave a gift to charity in your Will.<\/h5>\nEstate<\/span>:<\/strong><\/em>\u00a0 Your estate is the total sum of your personal possessions, property and money minus any liabilities.<\/h5>\nExecutor(s)<\/span>:<\/strong><\/em>\u00a0 The person or people that you appoint to ensure your final wishes are carried out. These can be professionals, friends, family members or institutions such as banks and some charities.<\/h5>\nGuardian<\/strong><\/em><\/span>:\u00a0 Someone who is responsible for children until they become 18.<\/h5>\nInheritance Tax<\/span>:<\/strong><\/em>\u00a0 This tax is paid on the portion of your estate that is above the nil-rate threshold.<\/h5>\nIntestate<\/strong><\/em><\/span>:\u00a0 The word used to describe someone who has died without a Will.<\/h5>\nLegacy<\/strong><\/em><\/span>:\u00a0 Another word for a gift or bequest left in your Will.<\/h5>\nProbate<\/strong><\/em><\/span>:\u00a0 When somebody dies leaving a Will, their executors will usually need to apply for a grant of probate. Once this is obtained, the executors can deal with the wishes expressed in the Will and distribute the gifts that have been left.<\/h5>\nResidue<\/strong><\/em><\/span>:\u00a0 This is what is left of your estate after any outstanding debts, taxes, pecuniary and specific bequests have been distributed to beneficiaries.<\/h5>\nTestator<\/strong><\/em><\/span>:\u00a0 The name given to a person who has made a Will.<\/h5>\nTrustee(s)<\/span>:<\/strong><\/em>\u00a0 One or more people who manage a trust.<\/h5>\n <\/div>\r\n <\/div>\r\n\r\n\r\n\r\n <\/div><\/p>","protected":false},"excerpt":{"rendered":"Miala tsiny fa tsy mbola misy amin’ny teny malagasy ity lahatsoratra ity. Your legacy can help build a future of hope in Madagascar A legacy to Money for Madagascar is a powerful expression of your commitment to building a brighter future for the people and wildlife of Madagascar. Deciding who to remember in your Will is a very personal decision.\u00a0 After considering the needs of your loved ones, if you feel able to leave a gift to charity, please consider leaving a legacy to Money for Madagascar. Your gift could help communities in Madagascar to overcome poverty and protect their… <\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-no-sidebar.php","meta":{"footnotes":""},"class_list":["post-216","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/comments?post=216"}],"version-history":[{"count":5,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions"}],"predecessor-version":[{"id":16899,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions\/16899"}],"wp:attachment":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/media?parent=216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Here are a few important things you should consider before you speak to a professional advisor.<\/h5>\n1. What is the value of your estate?<\/strong><\/span><\/h4>\nOne of the most important things you will have to work out is the value of your estate.<\/h5>\nThis means calculating the value of everything you own, including:
\nProperty
\nCar
\nSavings
\nPersonal possessions, including sentimental objects
\nYour pension
\nAny investments you\u2019ve made
\nYour business, if you own or part-own one<\/h5>\nAfter adding up the value of all your assets, you need to minus any existing debts. These might include mortgages, loans, overdrafts and credit or extended purchase agreements.<\/h5>\nYou need to check with your pension provider(s) to see if your pension can be included as an asset \u2013 different pension plans have different rules. For more information on this visit www.pensionsadvisoryservice.org.uk<\/h5>\n<\/h5>\n2. How do you want your estate to be distributed?<\/strong><\/span><\/h4>\nGifts can be anything you own and can take the form of specific items, cash amounts, or a percentage of your estate.\u00a0 By making your Will you can make provisions for the age at which young beneficiaries receive their gift or share of your estate, as well as providing for beneficiaries with health or care needs.\u00a0 You may choose to use your Will to pass on business interests: for instance you could leave shares in the family company to a son or daughter who has come into the business. This is a very tax-efficient way to pass on your assets.
\nYou can also specify family and friends who you wish to pass on personal items to.<\/h5>\nFor more information on choosing how to split your estate, visit www.moneyadviceservice.org.uk<\/h5>\n<\/h5>\n3. Who has made a difference to your life?<\/strong><\/span><\/h4>\nHas a charity helped you or somebody you love? Which causes are important to you?<\/h5>\nAfter you\u2019ve looked after your family and friends, you may wish to leave a gift to a charity close to your heart.<\/h5>\nThe donation can be as small or large as you like.<\/h5>\nMake a note of their charity name, address and registered charity number to give to your professional advisor.<\/h5>\nWe can provide you with these details for our member charities, or you can find details for all registered charities in the UK and Wales on the Charity Commission website.<\/h5>\nDetails for charities in Scotland can be found on the Office of the Scottish Charity Regulator.<\/h5>\n<\/h5>\n4. Who do you wish to be executors and guardians?<\/strong><\/span><\/h4>\nAnother important consideration when making a Will is the appointment of your executors \u2013 the people who will deal with your estate in the event of your death \u2013 as well as guardians for your children.<\/h5>\nIdeally, executors should be business-minded family or friends or could be professional advisors.<\/h5>\nRead our guidance for executors.<\/h5>\n<\/h5>\n5. How do you want to store your Will?<\/strong><\/span><\/h4>\nOnce written, most professional advisors will offer to store your Will for you so that the Will is not lost.<\/h5>\nIt may also be worth considering storing your Will with the Her Majesty\u2019s Court Service. When your Will is complete, you can also register it with a number of commercial organisations that operate Will registration schemes.<\/h5>\n
<\/p>\n <\/div>\r\n \r\n
\r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Guidance for Executors \u2013 FAQs<\/span>\r\n <\/div>\r\n \r\n We understand that administering the estate of a loved one can be difficult, but it can also be rewarding. As an executor or personal representative (in cases where there is no Will), you are responsible for ensuring that someone\u2019s last wishes are fulfilled.<\/h5>\nIf you\u2019re an executor, we can answer some of your questions in order to help you understand your duties.<\/h5>\nWhat is my role?<\/span><\/h5>\nAs an executor, your responsibilities include:<\/h5>\n\n- \n
Ensuring that all the property owned by the deceased person is kept safe and secure, as soon as possible after their death.<\/h5>\n<\/li>\n
- \n
Ensuring that any property or items of value are adequately insured.<\/h5>\n<\/li>\n
- \n
Collecting and, if appropriate, convert (sell) any assets due to the deceased person\u2019s estate<\/h5>\n<\/li>\n
- \n
Paying any outstanding taxes and debts (out of the deceased person\u2019s estate)<\/h5>\n<\/li>\n
- \n
Distributing the estate to those who are entitled to it under either the terms of the Will or intestacy<\/h5>\n<\/li>\n
- \n
Delivering up your grant of probate if required to by a court.<\/h5>\n<\/li>\n
- \n
What should I do if a charity is mentioned in the Will?<\/h5>\n<\/li>\n
- \n
If there is a named charity beneficiary in a Will, you should contact their legacy team to discuss the gift with them. Each charity will have different preferences on how they would like to receive legacy payments, so it is best to speak with them directly about this.<\/h5>\n<\/li>\n
- \n
What details does the charity need?<\/h5>\n<\/li>\n<\/ul>\nIn your role as executor, the named charity would find it useful to be informed of the following:<\/h5>\n\n- \n
1. Details of the person who has passed away:<\/h5>\nFull name<\/h5>\nLast known address and any other recent addresses<\/h5>\nDate of Will<\/h5>\nDate of death<\/h5>\nWhether the deceased was a lifetime supporter of the charity (this<\/h5>\nwould enable them to put a stop to any future promotional mailings)<\/h5>\n2. Some beneficiaries are entitled to a copy of the Will. For example, if they receive a share of the residue of the estate (what is left after any specific gifts have been made), you should provide such beneficiaries with this and also a list of the late benefactor\u2019s assets and liabilities at the date of death.<\/h5>\n3. You should also provide them with reasonable updates about the estate administration. This will allow them to understand the nature and contents of the estate and approve any key steps which you take during the administration, for example agreeing the sale price of a property. Such consultation can avoid problems arising in the future.<\/h5>\n<\/li>\n<\/ul>\nHow is the tax calculated?<\/span><\/h5>\nUK registered charities are exempt from paying Inheritance Tax, Capital Gains Tax and Income Tax.<\/h5>\nIf the estate contains a mixture of charitable and non-chartable beneficiaries, you should check the percentage of Inheritance Tax payable. If 10% or more of the net estate is left to charitable beneficiaries, a lower amount of Inheritance Tax (36%) may be payable on the non-charitable parts of the estate. You can check whether or not this lower rate will apply at Gov.uk.<\/h5>\nWho can I contact for further guidance?<\/span><\/h5>\nIf you are acting as an executor, you can find a solicitor in your local area who will be able to help answer any further questions you have.<\/h5>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Useful organisations<\/span>\r\n <\/div>\r\n \r\n To find out more about making a Will and leaving a gift to charity, please take a look at the links below:<\/h5>\n\n- \n
Gov.uk<\/h5>\n<\/li>\n
- \n
Citizen\u2019s Advice<\/h5>\n<\/li>\n
- \n
Society of Trust and Estate Practitioners<\/h5>\n<\/li>\n
- \n
The Law Society<\/h5>\n<\/li>\n
- \n
The Law Society Scotland<\/h5>\n<\/li>\n
- \n
The Law Society of Northern Ireland<\/h5>\n<\/li>\n
- \n
Institute of Legacy Management<\/h5>\n<\/li>\n
- \n
Institute of Professional Willwriters<\/h5>\n<\/h5>\n<\/li>\n
- \n
Certainty National Will Register<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for England and Wales<\/h5>\n<\/h5>\n<\/li>\n
- \n
OSCR \u2013 Office of the Scottish Charity Regulator<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for Northern Ireland<\/h5>\n<\/h5>\n<\/li>\n
- \n
Co-op Legal Services<\/h5>\n<\/li>\n<\/ul>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Will writing jargon buster<\/span>\r\n <\/div>\r\n \r\n When it comes to Will writing, you might come across some terms that you haven\u2019t heard before. Here are the explanations for some of the most common terms used in Will writing.<\/h5>\nBeneficiary<\/strong><\/span><\/em>:\u00a0 A person, or an organisation, to whom you leave something in your Will.<\/h5>\nBequest<\/strong><\/em>:<\/span>\u00a0 A term for a gift that you leave to a person or organisation in your will. There are several different types of bequest, but the main ones are:<\/h5>\nResiduary bequest:<\/strong><\/em><\/span>\u00a0 A gift made of what is left of your estate after all other gifts have been handed out and debts paid off. To do this you may leave either the total of the residue or a percentage.<\/h5>\nPecuniary bequest<\/span>:<\/strong>\u00a0 <\/em>A gift made of a fixed sum of money. Unfortunately, the effect of inflation means that the value of a pecuniary gift will decrease over time.<\/h5>\nSpecific bequest<\/span>:<\/strong><\/em>\u00a0 A particular named item left as a gift in your Will. For example, a piece of jewellery, furniture or a painting.<\/h5>\nCodicil<\/span>:<\/strong>\u00a0 <\/em>A codicil is a document used to change a Will that has already been made. You can find more information about codicils in how to leave a gift to charity in your Will.<\/h5>\nEstate<\/span>:<\/strong><\/em>\u00a0 Your estate is the total sum of your personal possessions, property and money minus any liabilities.<\/h5>\nExecutor(s)<\/span>:<\/strong><\/em>\u00a0 The person or people that you appoint to ensure your final wishes are carried out. These can be professionals, friends, family members or institutions such as banks and some charities.<\/h5>\nGuardian<\/strong><\/em><\/span>:\u00a0 Someone who is responsible for children until they become 18.<\/h5>\nInheritance Tax<\/span>:<\/strong><\/em>\u00a0 This tax is paid on the portion of your estate that is above the nil-rate threshold.<\/h5>\nIntestate<\/strong><\/em><\/span>:\u00a0 The word used to describe someone who has died without a Will.<\/h5>\nLegacy<\/strong><\/em><\/span>:\u00a0 Another word for a gift or bequest left in your Will.<\/h5>\nProbate<\/strong><\/em><\/span>:\u00a0 When somebody dies leaving a Will, their executors will usually need to apply for a grant of probate. Once this is obtained, the executors can deal with the wishes expressed in the Will and distribute the gifts that have been left.<\/h5>\nResidue<\/strong><\/em><\/span>:\u00a0 This is what is left of your estate after any outstanding debts, taxes, pecuniary and specific bequests have been distributed to beneficiaries.<\/h5>\nTestator<\/strong><\/em><\/span>:\u00a0 The name given to a person who has made a Will.<\/h5>\nTrustee(s)<\/span>:<\/strong><\/em>\u00a0 One or more people who manage a trust.<\/h5>\n <\/div>\r\n <\/div>\r\n\r\n\r\n\r\n <\/div><\/p>","protected":false},"excerpt":{"rendered":"Miala tsiny fa tsy mbola misy amin’ny teny malagasy ity lahatsoratra ity. Your legacy can help build a future of hope in Madagascar A legacy to Money for Madagascar is a powerful expression of your commitment to building a brighter future for the people and wildlife of Madagascar. Deciding who to remember in your Will is a very personal decision.\u00a0 After considering the needs of your loved ones, if you feel able to leave a gift to charity, please consider leaving a legacy to Money for Madagascar. Your gift could help communities in Madagascar to overcome poverty and protect their… <\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-no-sidebar.php","meta":{"footnotes":""},"class_list":["post-216","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/comments?post=216"}],"version-history":[{"count":5,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions"}],"predecessor-version":[{"id":16899,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions\/16899"}],"wp:attachment":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/media?parent=216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
One of the most important things you will have to work out is the value of your estate.<\/h5>\nThis means calculating the value of everything you own, including:
\nProperty
\nCar
\nSavings
\nPersonal possessions, including sentimental objects
\nYour pension
\nAny investments you\u2019ve made
\nYour business, if you own or part-own one<\/h5>\nAfter adding up the value of all your assets, you need to minus any existing debts. These might include mortgages, loans, overdrafts and credit or extended purchase agreements.<\/h5>\nYou need to check with your pension provider(s) to see if your pension can be included as an asset \u2013 different pension plans have different rules. For more information on this visit www.pensionsadvisoryservice.org.uk<\/h5>\n<\/h5>\n2. How do you want your estate to be distributed?<\/strong><\/span><\/h4>\nGifts can be anything you own and can take the form of specific items, cash amounts, or a percentage of your estate.\u00a0 By making your Will you can make provisions for the age at which young beneficiaries receive their gift or share of your estate, as well as providing for beneficiaries with health or care needs.\u00a0 You may choose to use your Will to pass on business interests: for instance you could leave shares in the family company to a son or daughter who has come into the business. This is a very tax-efficient way to pass on your assets.
\nYou can also specify family and friends who you wish to pass on personal items to.<\/h5>\nFor more information on choosing how to split your estate, visit www.moneyadviceservice.org.uk<\/h5>\n<\/h5>\n3. Who has made a difference to your life?<\/strong><\/span><\/h4>\nHas a charity helped you or somebody you love? Which causes are important to you?<\/h5>\nAfter you\u2019ve looked after your family and friends, you may wish to leave a gift to a charity close to your heart.<\/h5>\nThe donation can be as small or large as you like.<\/h5>\nMake a note of their charity name, address and registered charity number to give to your professional advisor.<\/h5>\nWe can provide you with these details for our member charities, or you can find details for all registered charities in the UK and Wales on the Charity Commission website.<\/h5>\nDetails for charities in Scotland can be found on the Office of the Scottish Charity Regulator.<\/h5>\n<\/h5>\n4. Who do you wish to be executors and guardians?<\/strong><\/span><\/h4>\nAnother important consideration when making a Will is the appointment of your executors \u2013 the people who will deal with your estate in the event of your death \u2013 as well as guardians for your children.<\/h5>\nIdeally, executors should be business-minded family or friends or could be professional advisors.<\/h5>\nRead our guidance for executors.<\/h5>\n<\/h5>\n5. How do you want to store your Will?<\/strong><\/span><\/h4>\nOnce written, most professional advisors will offer to store your Will for you so that the Will is not lost.<\/h5>\nIt may also be worth considering storing your Will with the Her Majesty\u2019s Court Service. When your Will is complete, you can also register it with a number of commercial organisations that operate Will registration schemes.<\/h5>\n
<\/p>\n <\/div>\r\n \r\n
\r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Guidance for Executors \u2013 FAQs<\/span>\r\n <\/div>\r\n \r\n We understand that administering the estate of a loved one can be difficult, but it can also be rewarding. As an executor or personal representative (in cases where there is no Will), you are responsible for ensuring that someone\u2019s last wishes are fulfilled.<\/h5>\nIf you\u2019re an executor, we can answer some of your questions in order to help you understand your duties.<\/h5>\nWhat is my role?<\/span><\/h5>\nAs an executor, your responsibilities include:<\/h5>\n\n- \n
Ensuring that all the property owned by the deceased person is kept safe and secure, as soon as possible after their death.<\/h5>\n<\/li>\n
- \n
Ensuring that any property or items of value are adequately insured.<\/h5>\n<\/li>\n
- \n
Collecting and, if appropriate, convert (sell) any assets due to the deceased person\u2019s estate<\/h5>\n<\/li>\n
- \n
Paying any outstanding taxes and debts (out of the deceased person\u2019s estate)<\/h5>\n<\/li>\n
- \n
Distributing the estate to those who are entitled to it under either the terms of the Will or intestacy<\/h5>\n<\/li>\n
- \n
Delivering up your grant of probate if required to by a court.<\/h5>\n<\/li>\n
- \n
What should I do if a charity is mentioned in the Will?<\/h5>\n<\/li>\n
- \n
If there is a named charity beneficiary in a Will, you should contact their legacy team to discuss the gift with them. Each charity will have different preferences on how they would like to receive legacy payments, so it is best to speak with them directly about this.<\/h5>\n<\/li>\n
- \n
What details does the charity need?<\/h5>\n<\/li>\n<\/ul>\nIn your role as executor, the named charity would find it useful to be informed of the following:<\/h5>\n\n- \n
1. Details of the person who has passed away:<\/h5>\nFull name<\/h5>\nLast known address and any other recent addresses<\/h5>\nDate of Will<\/h5>\nDate of death<\/h5>\nWhether the deceased was a lifetime supporter of the charity (this<\/h5>\nwould enable them to put a stop to any future promotional mailings)<\/h5>\n2. Some beneficiaries are entitled to a copy of the Will. For example, if they receive a share of the residue of the estate (what is left after any specific gifts have been made), you should provide such beneficiaries with this and also a list of the late benefactor\u2019s assets and liabilities at the date of death.<\/h5>\n3. You should also provide them with reasonable updates about the estate administration. This will allow them to understand the nature and contents of the estate and approve any key steps which you take during the administration, for example agreeing the sale price of a property. Such consultation can avoid problems arising in the future.<\/h5>\n<\/li>\n<\/ul>\nHow is the tax calculated?<\/span><\/h5>\nUK registered charities are exempt from paying Inheritance Tax, Capital Gains Tax and Income Tax.<\/h5>\nIf the estate contains a mixture of charitable and non-chartable beneficiaries, you should check the percentage of Inheritance Tax payable. If 10% or more of the net estate is left to charitable beneficiaries, a lower amount of Inheritance Tax (36%) may be payable on the non-charitable parts of the estate. You can check whether or not this lower rate will apply at Gov.uk.<\/h5>\nWho can I contact for further guidance?<\/span><\/h5>\nIf you are acting as an executor, you can find a solicitor in your local area who will be able to help answer any further questions you have.<\/h5>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Useful organisations<\/span>\r\n <\/div>\r\n \r\n To find out more about making a Will and leaving a gift to charity, please take a look at the links below:<\/h5>\n\n- \n
Gov.uk<\/h5>\n<\/li>\n
- \n
Citizen\u2019s Advice<\/h5>\n<\/li>\n
- \n
Society of Trust and Estate Practitioners<\/h5>\n<\/li>\n
- \n
The Law Society<\/h5>\n<\/li>\n
- \n
The Law Society Scotland<\/h5>\n<\/li>\n
- \n
The Law Society of Northern Ireland<\/h5>\n<\/li>\n
- \n
Institute of Legacy Management<\/h5>\n<\/li>\n
- \n
Institute of Professional Willwriters<\/h5>\n<\/h5>\n<\/li>\n
- \n
Certainty National Will Register<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for England and Wales<\/h5>\n<\/h5>\n<\/li>\n
- \n
OSCR \u2013 Office of the Scottish Charity Regulator<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for Northern Ireland<\/h5>\n<\/h5>\n<\/li>\n
- \n
Co-op Legal Services<\/h5>\n<\/li>\n<\/ul>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Will writing jargon buster<\/span>\r\n <\/div>\r\n \r\n When it comes to Will writing, you might come across some terms that you haven\u2019t heard before. Here are the explanations for some of the most common terms used in Will writing.<\/h5>\nBeneficiary<\/strong><\/span><\/em>:\u00a0 A person, or an organisation, to whom you leave something in your Will.<\/h5>\nBequest<\/strong><\/em>:<\/span>\u00a0 A term for a gift that you leave to a person or organisation in your will. There are several different types of bequest, but the main ones are:<\/h5>\nResiduary bequest:<\/strong><\/em><\/span>\u00a0 A gift made of what is left of your estate after all other gifts have been handed out and debts paid off. To do this you may leave either the total of the residue or a percentage.<\/h5>\nPecuniary bequest<\/span>:<\/strong>\u00a0 <\/em>A gift made of a fixed sum of money. Unfortunately, the effect of inflation means that the value of a pecuniary gift will decrease over time.<\/h5>\nSpecific bequest<\/span>:<\/strong><\/em>\u00a0 A particular named item left as a gift in your Will. For example, a piece of jewellery, furniture or a painting.<\/h5>\nCodicil<\/span>:<\/strong>\u00a0 <\/em>A codicil is a document used to change a Will that has already been made. You can find more information about codicils in how to leave a gift to charity in your Will.<\/h5>\nEstate<\/span>:<\/strong><\/em>\u00a0 Your estate is the total sum of your personal possessions, property and money minus any liabilities.<\/h5>\nExecutor(s)<\/span>:<\/strong><\/em>\u00a0 The person or people that you appoint to ensure your final wishes are carried out. These can be professionals, friends, family members or institutions such as banks and some charities.<\/h5>\nGuardian<\/strong><\/em><\/span>:\u00a0 Someone who is responsible for children until they become 18.<\/h5>\nInheritance Tax<\/span>:<\/strong><\/em>\u00a0 This tax is paid on the portion of your estate that is above the nil-rate threshold.<\/h5>\nIntestate<\/strong><\/em><\/span>:\u00a0 The word used to describe someone who has died without a Will.<\/h5>\nLegacy<\/strong><\/em><\/span>:\u00a0 Another word for a gift or bequest left in your Will.<\/h5>\nProbate<\/strong><\/em><\/span>:\u00a0 When somebody dies leaving a Will, their executors will usually need to apply for a grant of probate. Once this is obtained, the executors can deal with the wishes expressed in the Will and distribute the gifts that have been left.<\/h5>\nResidue<\/strong><\/em><\/span>:\u00a0 This is what is left of your estate after any outstanding debts, taxes, pecuniary and specific bequests have been distributed to beneficiaries.<\/h5>\nTestator<\/strong><\/em><\/span>:\u00a0 The name given to a person who has made a Will.<\/h5>\nTrustee(s)<\/span>:<\/strong><\/em>\u00a0 One or more people who manage a trust.<\/h5>\n <\/div>\r\n <\/div>\r\n\r\n\r\n\r\n <\/div><\/p>","protected":false},"excerpt":{"rendered":"Miala tsiny fa tsy mbola misy amin’ny teny malagasy ity lahatsoratra ity. Your legacy can help build a future of hope in Madagascar A legacy to Money for Madagascar is a powerful expression of your commitment to building a brighter future for the people and wildlife of Madagascar. Deciding who to remember in your Will is a very personal decision.\u00a0 After considering the needs of your loved ones, if you feel able to leave a gift to charity, please consider leaving a legacy to Money for Madagascar. Your gift could help communities in Madagascar to overcome poverty and protect their… <\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-no-sidebar.php","meta":{"footnotes":""},"class_list":["post-216","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/comments?post=216"}],"version-history":[{"count":5,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions"}],"predecessor-version":[{"id":16899,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions\/16899"}],"wp:attachment":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/media?parent=216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nProperty
\nCar
\nSavings
\nPersonal possessions, including sentimental objects
\nYour pension
\nAny investments you\u2019ve made
\nYour business, if you own or part-own one<\/h5>\n
After adding up the value of all your assets, you need to minus any existing debts. These might include mortgages, loans, overdrafts and credit or extended purchase agreements.<\/h5>\nYou need to check with your pension provider(s) to see if your pension can be included as an asset \u2013 different pension plans have different rules. For more information on this visit www.pensionsadvisoryservice.org.uk<\/h5>\n<\/h5>\n2. How do you want your estate to be distributed?<\/strong><\/span><\/h4>\nGifts can be anything you own and can take the form of specific items, cash amounts, or a percentage of your estate.\u00a0 By making your Will you can make provisions for the age at which young beneficiaries receive their gift or share of your estate, as well as providing for beneficiaries with health or care needs.\u00a0 You may choose to use your Will to pass on business interests: for instance you could leave shares in the family company to a son or daughter who has come into the business. This is a very tax-efficient way to pass on your assets.
\nYou can also specify family and friends who you wish to pass on personal items to.<\/h5>\nFor more information on choosing how to split your estate, visit www.moneyadviceservice.org.uk<\/h5>\n<\/h5>\n3. Who has made a difference to your life?<\/strong><\/span><\/h4>\nHas a charity helped you or somebody you love? Which causes are important to you?<\/h5>\nAfter you\u2019ve looked after your family and friends, you may wish to leave a gift to a charity close to your heart.<\/h5>\nThe donation can be as small or large as you like.<\/h5>\nMake a note of their charity name, address and registered charity number to give to your professional advisor.<\/h5>\nWe can provide you with these details for our member charities, or you can find details for all registered charities in the UK and Wales on the Charity Commission website.<\/h5>\nDetails for charities in Scotland can be found on the Office of the Scottish Charity Regulator.<\/h5>\n<\/h5>\n4. Who do you wish to be executors and guardians?<\/strong><\/span><\/h4>\nAnother important consideration when making a Will is the appointment of your executors \u2013 the people who will deal with your estate in the event of your death \u2013 as well as guardians for your children.<\/h5>\nIdeally, executors should be business-minded family or friends or could be professional advisors.<\/h5>\nRead our guidance for executors.<\/h5>\n<\/h5>\n5. How do you want to store your Will?<\/strong><\/span><\/h4>\nOnce written, most professional advisors will offer to store your Will for you so that the Will is not lost.<\/h5>\nIt may also be worth considering storing your Will with the Her Majesty\u2019s Court Service. When your Will is complete, you can also register it with a number of commercial organisations that operate Will registration schemes.<\/h5>\n
<\/p>\n <\/div>\r\n \r\n
\r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Guidance for Executors \u2013 FAQs<\/span>\r\n <\/div>\r\n \r\n We understand that administering the estate of a loved one can be difficult, but it can also be rewarding. As an executor or personal representative (in cases where there is no Will), you are responsible for ensuring that someone\u2019s last wishes are fulfilled.<\/h5>\nIf you\u2019re an executor, we can answer some of your questions in order to help you understand your duties.<\/h5>\nWhat is my role?<\/span><\/h5>\nAs an executor, your responsibilities include:<\/h5>\n\n- \n
Ensuring that all the property owned by the deceased person is kept safe and secure, as soon as possible after their death.<\/h5>\n<\/li>\n
- \n
Ensuring that any property or items of value are adequately insured.<\/h5>\n<\/li>\n
- \n
Collecting and, if appropriate, convert (sell) any assets due to the deceased person\u2019s estate<\/h5>\n<\/li>\n
- \n
Paying any outstanding taxes and debts (out of the deceased person\u2019s estate)<\/h5>\n<\/li>\n
- \n
Distributing the estate to those who are entitled to it under either the terms of the Will or intestacy<\/h5>\n<\/li>\n
- \n
Delivering up your grant of probate if required to by a court.<\/h5>\n<\/li>\n
- \n
What should I do if a charity is mentioned in the Will?<\/h5>\n<\/li>\n
- \n
If there is a named charity beneficiary in a Will, you should contact their legacy team to discuss the gift with them. Each charity will have different preferences on how they would like to receive legacy payments, so it is best to speak with them directly about this.<\/h5>\n<\/li>\n
- \n
What details does the charity need?<\/h5>\n<\/li>\n<\/ul>\nIn your role as executor, the named charity would find it useful to be informed of the following:<\/h5>\n\n- \n
1. Details of the person who has passed away:<\/h5>\nFull name<\/h5>\nLast known address and any other recent addresses<\/h5>\nDate of Will<\/h5>\nDate of death<\/h5>\nWhether the deceased was a lifetime supporter of the charity (this<\/h5>\nwould enable them to put a stop to any future promotional mailings)<\/h5>\n2. Some beneficiaries are entitled to a copy of the Will. For example, if they receive a share of the residue of the estate (what is left after any specific gifts have been made), you should provide such beneficiaries with this and also a list of the late benefactor\u2019s assets and liabilities at the date of death.<\/h5>\n3. You should also provide them with reasonable updates about the estate administration. This will allow them to understand the nature and contents of the estate and approve any key steps which you take during the administration, for example agreeing the sale price of a property. Such consultation can avoid problems arising in the future.<\/h5>\n<\/li>\n<\/ul>\nHow is the tax calculated?<\/span><\/h5>\nUK registered charities are exempt from paying Inheritance Tax, Capital Gains Tax and Income Tax.<\/h5>\nIf the estate contains a mixture of charitable and non-chartable beneficiaries, you should check the percentage of Inheritance Tax payable. If 10% or more of the net estate is left to charitable beneficiaries, a lower amount of Inheritance Tax (36%) may be payable on the non-charitable parts of the estate. You can check whether or not this lower rate will apply at Gov.uk.<\/h5>\nWho can I contact for further guidance?<\/span><\/h5>\nIf you are acting as an executor, you can find a solicitor in your local area who will be able to help answer any further questions you have.<\/h5>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Useful organisations<\/span>\r\n <\/div>\r\n \r\n To find out more about making a Will and leaving a gift to charity, please take a look at the links below:<\/h5>\n\n- \n
Gov.uk<\/h5>\n<\/li>\n
- \n
Citizen\u2019s Advice<\/h5>\n<\/li>\n
- \n
Society of Trust and Estate Practitioners<\/h5>\n<\/li>\n
- \n
The Law Society<\/h5>\n<\/li>\n
- \n
The Law Society Scotland<\/h5>\n<\/li>\n
- \n
The Law Society of Northern Ireland<\/h5>\n<\/li>\n
- \n
Institute of Legacy Management<\/h5>\n<\/li>\n
- \n
Institute of Professional Willwriters<\/h5>\n<\/h5>\n<\/li>\n
- \n
Certainty National Will Register<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for England and Wales<\/h5>\n<\/h5>\n<\/li>\n
- \n
OSCR \u2013 Office of the Scottish Charity Regulator<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for Northern Ireland<\/h5>\n<\/h5>\n<\/li>\n
- \n
Co-op Legal Services<\/h5>\n<\/li>\n<\/ul>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Will writing jargon buster<\/span>\r\n <\/div>\r\n \r\n When it comes to Will writing, you might come across some terms that you haven\u2019t heard before. Here are the explanations for some of the most common terms used in Will writing.<\/h5>\nBeneficiary<\/strong><\/span><\/em>:\u00a0 A person, or an organisation, to whom you leave something in your Will.<\/h5>\nBequest<\/strong><\/em>:<\/span>\u00a0 A term for a gift that you leave to a person or organisation in your will. There are several different types of bequest, but the main ones are:<\/h5>\nResiduary bequest:<\/strong><\/em><\/span>\u00a0 A gift made of what is left of your estate after all other gifts have been handed out and debts paid off. To do this you may leave either the total of the residue or a percentage.<\/h5>\nPecuniary bequest<\/span>:<\/strong>\u00a0 <\/em>A gift made of a fixed sum of money. Unfortunately, the effect of inflation means that the value of a pecuniary gift will decrease over time.<\/h5>\nSpecific bequest<\/span>:<\/strong><\/em>\u00a0 A particular named item left as a gift in your Will. For example, a piece of jewellery, furniture or a painting.<\/h5>\nCodicil<\/span>:<\/strong>\u00a0 <\/em>A codicil is a document used to change a Will that has already been made. You can find more information about codicils in how to leave a gift to charity in your Will.<\/h5>\nEstate<\/span>:<\/strong><\/em>\u00a0 Your estate is the total sum of your personal possessions, property and money minus any liabilities.<\/h5>\nExecutor(s)<\/span>:<\/strong><\/em>\u00a0 The person or people that you appoint to ensure your final wishes are carried out. These can be professionals, friends, family members or institutions such as banks and some charities.<\/h5>\nGuardian<\/strong><\/em><\/span>:\u00a0 Someone who is responsible for children until they become 18.<\/h5>\nInheritance Tax<\/span>:<\/strong><\/em>\u00a0 This tax is paid on the portion of your estate that is above the nil-rate threshold.<\/h5>\nIntestate<\/strong><\/em><\/span>:\u00a0 The word used to describe someone who has died without a Will.<\/h5>\nLegacy<\/strong><\/em><\/span>:\u00a0 Another word for a gift or bequest left in your Will.<\/h5>\nProbate<\/strong><\/em><\/span>:\u00a0 When somebody dies leaving a Will, their executors will usually need to apply for a grant of probate. Once this is obtained, the executors can deal with the wishes expressed in the Will and distribute the gifts that have been left.<\/h5>\nResidue<\/strong><\/em><\/span>:\u00a0 This is what is left of your estate after any outstanding debts, taxes, pecuniary and specific bequests have been distributed to beneficiaries.<\/h5>\nTestator<\/strong><\/em><\/span>:\u00a0 The name given to a person who has made a Will.<\/h5>\nTrustee(s)<\/span>:<\/strong><\/em>\u00a0 One or more people who manage a trust.<\/h5>\n <\/div>\r\n <\/div>\r\n\r\n\r\n\r\n <\/div><\/p>","protected":false},"excerpt":{"rendered":"Miala tsiny fa tsy mbola misy amin’ny teny malagasy ity lahatsoratra ity. Your legacy can help build a future of hope in Madagascar A legacy to Money for Madagascar is a powerful expression of your commitment to building a brighter future for the people and wildlife of Madagascar. Deciding who to remember in your Will is a very personal decision.\u00a0 After considering the needs of your loved ones, if you feel able to leave a gift to charity, please consider leaving a legacy to Money for Madagascar. Your gift could help communities in Madagascar to overcome poverty and protect their… <\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-no-sidebar.php","meta":{"footnotes":""},"class_list":["post-216","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/comments?post=216"}],"version-history":[{"count":5,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions"}],"predecessor-version":[{"id":16899,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions\/16899"}],"wp:attachment":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/media?parent=216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
<\/h5>\n2. How do you want your estate to be distributed?<\/strong><\/span><\/h4>\nGifts can be anything you own and can take the form of specific items, cash amounts, or a percentage of your estate.\u00a0 By making your Will you can make provisions for the age at which young beneficiaries receive their gift or share of your estate, as well as providing for beneficiaries with health or care needs.\u00a0 You may choose to use your Will to pass on business interests: for instance you could leave shares in the family company to a son or daughter who has come into the business. This is a very tax-efficient way to pass on your assets.
\nYou can also specify family and friends who you wish to pass on personal items to.<\/h5>\nFor more information on choosing how to split your estate, visit www.moneyadviceservice.org.uk<\/h5>\n<\/h5>\n3. Who has made a difference to your life?<\/strong><\/span><\/h4>\nHas a charity helped you or somebody you love? Which causes are important to you?<\/h5>\nAfter you\u2019ve looked after your family and friends, you may wish to leave a gift to a charity close to your heart.<\/h5>\nThe donation can be as small or large as you like.<\/h5>\nMake a note of their charity name, address and registered charity number to give to your professional advisor.<\/h5>\nWe can provide you with these details for our member charities, or you can find details for all registered charities in the UK and Wales on the Charity Commission website.<\/h5>\nDetails for charities in Scotland can be found on the Office of the Scottish Charity Regulator.<\/h5>\n<\/h5>\n4. Who do you wish to be executors and guardians?<\/strong><\/span><\/h4>\nAnother important consideration when making a Will is the appointment of your executors \u2013 the people who will deal with your estate in the event of your death \u2013 as well as guardians for your children.<\/h5>\nIdeally, executors should be business-minded family or friends or could be professional advisors.<\/h5>\nRead our guidance for executors.<\/h5>\n<\/h5>\n5. How do you want to store your Will?<\/strong><\/span><\/h4>\nOnce written, most professional advisors will offer to store your Will for you so that the Will is not lost.<\/h5>\nIt may also be worth considering storing your Will with the Her Majesty\u2019s Court Service. When your Will is complete, you can also register it with a number of commercial organisations that operate Will registration schemes.<\/h5>\n
<\/p>\n <\/div>\r\n \r\n
\r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Guidance for Executors \u2013 FAQs<\/span>\r\n <\/div>\r\n \r\n We understand that administering the estate of a loved one can be difficult, but it can also be rewarding. As an executor or personal representative (in cases where there is no Will), you are responsible for ensuring that someone\u2019s last wishes are fulfilled.<\/h5>\nIf you\u2019re an executor, we can answer some of your questions in order to help you understand your duties.<\/h5>\nWhat is my role?<\/span><\/h5>\nAs an executor, your responsibilities include:<\/h5>\n\n- \n
Ensuring that all the property owned by the deceased person is kept safe and secure, as soon as possible after their death.<\/h5>\n<\/li>\n
- \n
Ensuring that any property or items of value are adequately insured.<\/h5>\n<\/li>\n
- \n
Collecting and, if appropriate, convert (sell) any assets due to the deceased person\u2019s estate<\/h5>\n<\/li>\n
- \n
Paying any outstanding taxes and debts (out of the deceased person\u2019s estate)<\/h5>\n<\/li>\n
- \n
Distributing the estate to those who are entitled to it under either the terms of the Will or intestacy<\/h5>\n<\/li>\n
- \n
Delivering up your grant of probate if required to by a court.<\/h5>\n<\/li>\n
- \n
What should I do if a charity is mentioned in the Will?<\/h5>\n<\/li>\n
- \n
If there is a named charity beneficiary in a Will, you should contact their legacy team to discuss the gift with them. Each charity will have different preferences on how they would like to receive legacy payments, so it is best to speak with them directly about this.<\/h5>\n<\/li>\n
- \n
What details does the charity need?<\/h5>\n<\/li>\n<\/ul>\nIn your role as executor, the named charity would find it useful to be informed of the following:<\/h5>\n\n- \n
1. Details of the person who has passed away:<\/h5>\nFull name<\/h5>\nLast known address and any other recent addresses<\/h5>\nDate of Will<\/h5>\nDate of death<\/h5>\nWhether the deceased was a lifetime supporter of the charity (this<\/h5>\nwould enable them to put a stop to any future promotional mailings)<\/h5>\n2. Some beneficiaries are entitled to a copy of the Will. For example, if they receive a share of the residue of the estate (what is left after any specific gifts have been made), you should provide such beneficiaries with this and also a list of the late benefactor\u2019s assets and liabilities at the date of death.<\/h5>\n3. You should also provide them with reasonable updates about the estate administration. This will allow them to understand the nature and contents of the estate and approve any key steps which you take during the administration, for example agreeing the sale price of a property. Such consultation can avoid problems arising in the future.<\/h5>\n<\/li>\n<\/ul>\nHow is the tax calculated?<\/span><\/h5>\nUK registered charities are exempt from paying Inheritance Tax, Capital Gains Tax and Income Tax.<\/h5>\nIf the estate contains a mixture of charitable and non-chartable beneficiaries, you should check the percentage of Inheritance Tax payable. If 10% or more of the net estate is left to charitable beneficiaries, a lower amount of Inheritance Tax (36%) may be payable on the non-charitable parts of the estate. You can check whether or not this lower rate will apply at Gov.uk.<\/h5>\nWho can I contact for further guidance?<\/span><\/h5>\nIf you are acting as an executor, you can find a solicitor in your local area who will be able to help answer any further questions you have.<\/h5>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Useful organisations<\/span>\r\n <\/div>\r\n \r\n To find out more about making a Will and leaving a gift to charity, please take a look at the links below:<\/h5>\n\n- \n
Gov.uk<\/h5>\n<\/li>\n
- \n
Citizen\u2019s Advice<\/h5>\n<\/li>\n
- \n
Society of Trust and Estate Practitioners<\/h5>\n<\/li>\n
- \n
The Law Society<\/h5>\n<\/li>\n
- \n
The Law Society Scotland<\/h5>\n<\/li>\n
- \n
The Law Society of Northern Ireland<\/h5>\n<\/li>\n
- \n
Institute of Legacy Management<\/h5>\n<\/li>\n
- \n
Institute of Professional Willwriters<\/h5>\n<\/h5>\n<\/li>\n
- \n
Certainty National Will Register<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for England and Wales<\/h5>\n<\/h5>\n<\/li>\n
- \n
OSCR \u2013 Office of the Scottish Charity Regulator<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for Northern Ireland<\/h5>\n<\/h5>\n<\/li>\n
- \n
Co-op Legal Services<\/h5>\n<\/li>\n<\/ul>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Will writing jargon buster<\/span>\r\n <\/div>\r\n \r\n When it comes to Will writing, you might come across some terms that you haven\u2019t heard before. Here are the explanations for some of the most common terms used in Will writing.<\/h5>\nBeneficiary<\/strong><\/span><\/em>:\u00a0 A person, or an organisation, to whom you leave something in your Will.<\/h5>\nBequest<\/strong><\/em>:<\/span>\u00a0 A term for a gift that you leave to a person or organisation in your will. There are several different types of bequest, but the main ones are:<\/h5>\nResiduary bequest:<\/strong><\/em><\/span>\u00a0 A gift made of what is left of your estate after all other gifts have been handed out and debts paid off. To do this you may leave either the total of the residue or a percentage.<\/h5>\nPecuniary bequest<\/span>:<\/strong>\u00a0 <\/em>A gift made of a fixed sum of money. Unfortunately, the effect of inflation means that the value of a pecuniary gift will decrease over time.<\/h5>\nSpecific bequest<\/span>:<\/strong><\/em>\u00a0 A particular named item left as a gift in your Will. For example, a piece of jewellery, furniture or a painting.<\/h5>\nCodicil<\/span>:<\/strong>\u00a0 <\/em>A codicil is a document used to change a Will that has already been made. You can find more information about codicils in how to leave a gift to charity in your Will.<\/h5>\nEstate<\/span>:<\/strong><\/em>\u00a0 Your estate is the total sum of your personal possessions, property and money minus any liabilities.<\/h5>\nExecutor(s)<\/span>:<\/strong><\/em>\u00a0 The person or people that you appoint to ensure your final wishes are carried out. These can be professionals, friends, family members or institutions such as banks and some charities.<\/h5>\nGuardian<\/strong><\/em><\/span>:\u00a0 Someone who is responsible for children until they become 18.<\/h5>\nInheritance Tax<\/span>:<\/strong><\/em>\u00a0 This tax is paid on the portion of your estate that is above the nil-rate threshold.<\/h5>\nIntestate<\/strong><\/em><\/span>:\u00a0 The word used to describe someone who has died without a Will.<\/h5>\nLegacy<\/strong><\/em><\/span>:\u00a0 Another word for a gift or bequest left in your Will.<\/h5>\nProbate<\/strong><\/em><\/span>:\u00a0 When somebody dies leaving a Will, their executors will usually need to apply for a grant of probate. Once this is obtained, the executors can deal with the wishes expressed in the Will and distribute the gifts that have been left.<\/h5>\nResidue<\/strong><\/em><\/span>:\u00a0 This is what is left of your estate after any outstanding debts, taxes, pecuniary and specific bequests have been distributed to beneficiaries.<\/h5>\nTestator<\/strong><\/em><\/span>:\u00a0 The name given to a person who has made a Will.<\/h5>\nTrustee(s)<\/span>:<\/strong><\/em>\u00a0 One or more people who manage a trust.<\/h5>\n <\/div>\r\n <\/div>\r\n\r\n\r\n\r\n <\/div><\/p>","protected":false},"excerpt":{"rendered":"Miala tsiny fa tsy mbola misy amin’ny teny malagasy ity lahatsoratra ity. Your legacy can help build a future of hope in Madagascar A legacy to Money for Madagascar is a powerful expression of your commitment to building a brighter future for the people and wildlife of Madagascar. Deciding who to remember in your Will is a very personal decision.\u00a0 After considering the needs of your loved ones, if you feel able to leave a gift to charity, please consider leaving a legacy to Money for Madagascar. Your gift could help communities in Madagascar to overcome poverty and protect their… <\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-no-sidebar.php","meta":{"footnotes":""},"class_list":["post-216","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/comments?post=216"}],"version-history":[{"count":5,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions"}],"predecessor-version":[{"id":16899,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions\/16899"}],"wp:attachment":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/media?parent=216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Gifts can be anything you own and can take the form of specific items, cash amounts, or a percentage of your estate.\u00a0 By making your Will you can make provisions for the age at which young beneficiaries receive their gift or share of your estate, as well as providing for beneficiaries with health or care needs.\u00a0 You may choose to use your Will to pass on business interests: for instance you could leave shares in the family company to a son or daughter who has come into the business. This is a very tax-efficient way to pass on your assets.
\nYou can also specify family and friends who you wish to pass on personal items to.<\/h5>\nFor more information on choosing how to split your estate, visit www.moneyadviceservice.org.uk<\/h5>\n<\/h5>\n3. Who has made a difference to your life?<\/strong><\/span><\/h4>\nHas a charity helped you or somebody you love? Which causes are important to you?<\/h5>\nAfter you\u2019ve looked after your family and friends, you may wish to leave a gift to a charity close to your heart.<\/h5>\nThe donation can be as small or large as you like.<\/h5>\nMake a note of their charity name, address and registered charity number to give to your professional advisor.<\/h5>\nWe can provide you with these details for our member charities, or you can find details for all registered charities in the UK and Wales on the Charity Commission website.<\/h5>\nDetails for charities in Scotland can be found on the Office of the Scottish Charity Regulator.<\/h5>\n<\/h5>\n4. Who do you wish to be executors and guardians?<\/strong><\/span><\/h4>\nAnother important consideration when making a Will is the appointment of your executors \u2013 the people who will deal with your estate in the event of your death \u2013 as well as guardians for your children.<\/h5>\nIdeally, executors should be business-minded family or friends or could be professional advisors.<\/h5>\nRead our guidance for executors.<\/h5>\n<\/h5>\n5. How do you want to store your Will?<\/strong><\/span><\/h4>\nOnce written, most professional advisors will offer to store your Will for you so that the Will is not lost.<\/h5>\nIt may also be worth considering storing your Will with the Her Majesty\u2019s Court Service. When your Will is complete, you can also register it with a number of commercial organisations that operate Will registration schemes.<\/h5>\n
<\/p>\n <\/div>\r\n \r\n
\r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Guidance for Executors \u2013 FAQs<\/span>\r\n <\/div>\r\n \r\n We understand that administering the estate of a loved one can be difficult, but it can also be rewarding. As an executor or personal representative (in cases where there is no Will), you are responsible for ensuring that someone\u2019s last wishes are fulfilled.<\/h5>\nIf you\u2019re an executor, we can answer some of your questions in order to help you understand your duties.<\/h5>\nWhat is my role?<\/span><\/h5>\nAs an executor, your responsibilities include:<\/h5>\n\n- \n
Ensuring that all the property owned by the deceased person is kept safe and secure, as soon as possible after their death.<\/h5>\n<\/li>\n
- \n
Ensuring that any property or items of value are adequately insured.<\/h5>\n<\/li>\n
- \n
Collecting and, if appropriate, convert (sell) any assets due to the deceased person\u2019s estate<\/h5>\n<\/li>\n
- \n
Paying any outstanding taxes and debts (out of the deceased person\u2019s estate)<\/h5>\n<\/li>\n
- \n
Distributing the estate to those who are entitled to it under either the terms of the Will or intestacy<\/h5>\n<\/li>\n
- \n
Delivering up your grant of probate if required to by a court.<\/h5>\n<\/li>\n
- \n
What should I do if a charity is mentioned in the Will?<\/h5>\n<\/li>\n
- \n
If there is a named charity beneficiary in a Will, you should contact their legacy team to discuss the gift with them. Each charity will have different preferences on how they would like to receive legacy payments, so it is best to speak with them directly about this.<\/h5>\n<\/li>\n
- \n
What details does the charity need?<\/h5>\n<\/li>\n<\/ul>\nIn your role as executor, the named charity would find it useful to be informed of the following:<\/h5>\n\n- \n
1. Details of the person who has passed away:<\/h5>\nFull name<\/h5>\nLast known address and any other recent addresses<\/h5>\nDate of Will<\/h5>\nDate of death<\/h5>\nWhether the deceased was a lifetime supporter of the charity (this<\/h5>\nwould enable them to put a stop to any future promotional mailings)<\/h5>\n2. Some beneficiaries are entitled to a copy of the Will. For example, if they receive a share of the residue of the estate (what is left after any specific gifts have been made), you should provide such beneficiaries with this and also a list of the late benefactor\u2019s assets and liabilities at the date of death.<\/h5>\n3. You should also provide them with reasonable updates about the estate administration. This will allow them to understand the nature and contents of the estate and approve any key steps which you take during the administration, for example agreeing the sale price of a property. Such consultation can avoid problems arising in the future.<\/h5>\n<\/li>\n<\/ul>\nHow is the tax calculated?<\/span><\/h5>\nUK registered charities are exempt from paying Inheritance Tax, Capital Gains Tax and Income Tax.<\/h5>\nIf the estate contains a mixture of charitable and non-chartable beneficiaries, you should check the percentage of Inheritance Tax payable. If 10% or more of the net estate is left to charitable beneficiaries, a lower amount of Inheritance Tax (36%) may be payable on the non-charitable parts of the estate. You can check whether or not this lower rate will apply at Gov.uk.<\/h5>\nWho can I contact for further guidance?<\/span><\/h5>\nIf you are acting as an executor, you can find a solicitor in your local area who will be able to help answer any further questions you have.<\/h5>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Useful organisations<\/span>\r\n <\/div>\r\n \r\n To find out more about making a Will and leaving a gift to charity, please take a look at the links below:<\/h5>\n\n- \n
Gov.uk<\/h5>\n<\/li>\n
- \n
Citizen\u2019s Advice<\/h5>\n<\/li>\n
- \n
Society of Trust and Estate Practitioners<\/h5>\n<\/li>\n
- \n
The Law Society<\/h5>\n<\/li>\n
- \n
The Law Society Scotland<\/h5>\n<\/li>\n
- \n
The Law Society of Northern Ireland<\/h5>\n<\/li>\n
- \n
Institute of Legacy Management<\/h5>\n<\/li>\n
- \n
Institute of Professional Willwriters<\/h5>\n<\/h5>\n<\/li>\n
- \n
Certainty National Will Register<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for England and Wales<\/h5>\n<\/h5>\n<\/li>\n
- \n
OSCR \u2013 Office of the Scottish Charity Regulator<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for Northern Ireland<\/h5>\n<\/h5>\n<\/li>\n
- \n
Co-op Legal Services<\/h5>\n<\/li>\n<\/ul>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Will writing jargon buster<\/span>\r\n <\/div>\r\n \r\n When it comes to Will writing, you might come across some terms that you haven\u2019t heard before. Here are the explanations for some of the most common terms used in Will writing.<\/h5>\nBeneficiary<\/strong><\/span><\/em>:\u00a0 A person, or an organisation, to whom you leave something in your Will.<\/h5>\nBequest<\/strong><\/em>:<\/span>\u00a0 A term for a gift that you leave to a person or organisation in your will. There are several different types of bequest, but the main ones are:<\/h5>\nResiduary bequest:<\/strong><\/em><\/span>\u00a0 A gift made of what is left of your estate after all other gifts have been handed out and debts paid off. To do this you may leave either the total of the residue or a percentage.<\/h5>\nPecuniary bequest<\/span>:<\/strong>\u00a0 <\/em>A gift made of a fixed sum of money. Unfortunately, the effect of inflation means that the value of a pecuniary gift will decrease over time.<\/h5>\nSpecific bequest<\/span>:<\/strong><\/em>\u00a0 A particular named item left as a gift in your Will. For example, a piece of jewellery, furniture or a painting.<\/h5>\nCodicil<\/span>:<\/strong>\u00a0 <\/em>A codicil is a document used to change a Will that has already been made. You can find more information about codicils in how to leave a gift to charity in your Will.<\/h5>\nEstate<\/span>:<\/strong><\/em>\u00a0 Your estate is the total sum of your personal possessions, property and money minus any liabilities.<\/h5>\nExecutor(s)<\/span>:<\/strong><\/em>\u00a0 The person or people that you appoint to ensure your final wishes are carried out. These can be professionals, friends, family members or institutions such as banks and some charities.<\/h5>\nGuardian<\/strong><\/em><\/span>:\u00a0 Someone who is responsible for children until they become 18.<\/h5>\nInheritance Tax<\/span>:<\/strong><\/em>\u00a0 This tax is paid on the portion of your estate that is above the nil-rate threshold.<\/h5>\nIntestate<\/strong><\/em><\/span>:\u00a0 The word used to describe someone who has died without a Will.<\/h5>\nLegacy<\/strong><\/em><\/span>:\u00a0 Another word for a gift or bequest left in your Will.<\/h5>\nProbate<\/strong><\/em><\/span>:\u00a0 When somebody dies leaving a Will, their executors will usually need to apply for a grant of probate. Once this is obtained, the executors can deal with the wishes expressed in the Will and distribute the gifts that have been left.<\/h5>\nResidue<\/strong><\/em><\/span>:\u00a0 This is what is left of your estate after any outstanding debts, taxes, pecuniary and specific bequests have been distributed to beneficiaries.<\/h5>\nTestator<\/strong><\/em><\/span>:\u00a0 The name given to a person who has made a Will.<\/h5>\nTrustee(s)<\/span>:<\/strong><\/em>\u00a0 One or more people who manage a trust.<\/h5>\n <\/div>\r\n <\/div>\r\n\r\n\r\n\r\n <\/div><\/p>","protected":false},"excerpt":{"rendered":"Miala tsiny fa tsy mbola misy amin’ny teny malagasy ity lahatsoratra ity. Your legacy can help build a future of hope in Madagascar A legacy to Money for Madagascar is a powerful expression of your commitment to building a brighter future for the people and wildlife of Madagascar. Deciding who to remember in your Will is a very personal decision.\u00a0 After considering the needs of your loved ones, if you feel able to leave a gift to charity, please consider leaving a legacy to Money for Madagascar. Your gift could help communities in Madagascar to overcome poverty and protect their… <\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-no-sidebar.php","meta":{"footnotes":""},"class_list":["post-216","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/comments?post=216"}],"version-history":[{"count":5,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions"}],"predecessor-version":[{"id":16899,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions\/16899"}],"wp:attachment":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/media?parent=216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
<\/h5>\n3. Who has made a difference to your life?<\/strong><\/span><\/h4>\nHas a charity helped you or somebody you love? Which causes are important to you?<\/h5>\nAfter you\u2019ve looked after your family and friends, you may wish to leave a gift to a charity close to your heart.<\/h5>\nThe donation can be as small or large as you like.<\/h5>\nMake a note of their charity name, address and registered charity number to give to your professional advisor.<\/h5>\nWe can provide you with these details for our member charities, or you can find details for all registered charities in the UK and Wales on the Charity Commission website.<\/h5>\nDetails for charities in Scotland can be found on the Office of the Scottish Charity Regulator.<\/h5>\n<\/h5>\n4. Who do you wish to be executors and guardians?<\/strong><\/span><\/h4>\nAnother important consideration when making a Will is the appointment of your executors \u2013 the people who will deal with your estate in the event of your death \u2013 as well as guardians for your children.<\/h5>\nIdeally, executors should be business-minded family or friends or could be professional advisors.<\/h5>\nRead our guidance for executors.<\/h5>\n<\/h5>\n5. How do you want to store your Will?<\/strong><\/span><\/h4>\nOnce written, most professional advisors will offer to store your Will for you so that the Will is not lost.<\/h5>\nIt may also be worth considering storing your Will with the Her Majesty\u2019s Court Service. When your Will is complete, you can also register it with a number of commercial organisations that operate Will registration schemes.<\/h5>\n
<\/p>\n <\/div>\r\n \r\n
\r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Guidance for Executors \u2013 FAQs<\/span>\r\n <\/div>\r\n \r\n We understand that administering the estate of a loved one can be difficult, but it can also be rewarding. As an executor or personal representative (in cases where there is no Will), you are responsible for ensuring that someone\u2019s last wishes are fulfilled.<\/h5>\nIf you\u2019re an executor, we can answer some of your questions in order to help you understand your duties.<\/h5>\nWhat is my role?<\/span><\/h5>\nAs an executor, your responsibilities include:<\/h5>\n\n- \n
Ensuring that all the property owned by the deceased person is kept safe and secure, as soon as possible after their death.<\/h5>\n<\/li>\n
- \n
Ensuring that any property or items of value are adequately insured.<\/h5>\n<\/li>\n
- \n
Collecting and, if appropriate, convert (sell) any assets due to the deceased person\u2019s estate<\/h5>\n<\/li>\n
- \n
Paying any outstanding taxes and debts (out of the deceased person\u2019s estate)<\/h5>\n<\/li>\n
- \n
Distributing the estate to those who are entitled to it under either the terms of the Will or intestacy<\/h5>\n<\/li>\n
- \n
Delivering up your grant of probate if required to by a court.<\/h5>\n<\/li>\n
- \n
What should I do if a charity is mentioned in the Will?<\/h5>\n<\/li>\n
- \n
If there is a named charity beneficiary in a Will, you should contact their legacy team to discuss the gift with them. Each charity will have different preferences on how they would like to receive legacy payments, so it is best to speak with them directly about this.<\/h5>\n<\/li>\n
- \n
What details does the charity need?<\/h5>\n<\/li>\n<\/ul>\nIn your role as executor, the named charity would find it useful to be informed of the following:<\/h5>\n\n- \n
1. Details of the person who has passed away:<\/h5>\nFull name<\/h5>\nLast known address and any other recent addresses<\/h5>\nDate of Will<\/h5>\nDate of death<\/h5>\nWhether the deceased was a lifetime supporter of the charity (this<\/h5>\nwould enable them to put a stop to any future promotional mailings)<\/h5>\n2. Some beneficiaries are entitled to a copy of the Will. For example, if they receive a share of the residue of the estate (what is left after any specific gifts have been made), you should provide such beneficiaries with this and also a list of the late benefactor\u2019s assets and liabilities at the date of death.<\/h5>\n3. You should also provide them with reasonable updates about the estate administration. This will allow them to understand the nature and contents of the estate and approve any key steps which you take during the administration, for example agreeing the sale price of a property. Such consultation can avoid problems arising in the future.<\/h5>\n<\/li>\n<\/ul>\nHow is the tax calculated?<\/span><\/h5>\nUK registered charities are exempt from paying Inheritance Tax, Capital Gains Tax and Income Tax.<\/h5>\nIf the estate contains a mixture of charitable and non-chartable beneficiaries, you should check the percentage of Inheritance Tax payable. If 10% or more of the net estate is left to charitable beneficiaries, a lower amount of Inheritance Tax (36%) may be payable on the non-charitable parts of the estate. You can check whether or not this lower rate will apply at Gov.uk.<\/h5>\nWho can I contact for further guidance?<\/span><\/h5>\nIf you are acting as an executor, you can find a solicitor in your local area who will be able to help answer any further questions you have.<\/h5>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Useful organisations<\/span>\r\n <\/div>\r\n \r\n To find out more about making a Will and leaving a gift to charity, please take a look at the links below:<\/h5>\n\n- \n
Gov.uk<\/h5>\n<\/li>\n
- \n
Citizen\u2019s Advice<\/h5>\n<\/li>\n
- \n
Society of Trust and Estate Practitioners<\/h5>\n<\/li>\n
- \n
The Law Society<\/h5>\n<\/li>\n
- \n
The Law Society Scotland<\/h5>\n<\/li>\n
- \n
The Law Society of Northern Ireland<\/h5>\n<\/li>\n
- \n
Institute of Legacy Management<\/h5>\n<\/li>\n
- \n
Institute of Professional Willwriters<\/h5>\n<\/h5>\n<\/li>\n
- \n
Certainty National Will Register<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for England and Wales<\/h5>\n<\/h5>\n<\/li>\n
- \n
OSCR \u2013 Office of the Scottish Charity Regulator<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for Northern Ireland<\/h5>\n<\/h5>\n<\/li>\n
- \n
Co-op Legal Services<\/h5>\n<\/li>\n<\/ul>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Will writing jargon buster<\/span>\r\n <\/div>\r\n \r\n When it comes to Will writing, you might come across some terms that you haven\u2019t heard before. Here are the explanations for some of the most common terms used in Will writing.<\/h5>\nBeneficiary<\/strong><\/span><\/em>:\u00a0 A person, or an organisation, to whom you leave something in your Will.<\/h5>\nBequest<\/strong><\/em>:<\/span>\u00a0 A term for a gift that you leave to a person or organisation in your will. There are several different types of bequest, but the main ones are:<\/h5>\nResiduary bequest:<\/strong><\/em><\/span>\u00a0 A gift made of what is left of your estate after all other gifts have been handed out and debts paid off. To do this you may leave either the total of the residue or a percentage.<\/h5>\nPecuniary bequest<\/span>:<\/strong>\u00a0 <\/em>A gift made of a fixed sum of money. Unfortunately, the effect of inflation means that the value of a pecuniary gift will decrease over time.<\/h5>\nSpecific bequest<\/span>:<\/strong><\/em>\u00a0 A particular named item left as a gift in your Will. For example, a piece of jewellery, furniture or a painting.<\/h5>\nCodicil<\/span>:<\/strong>\u00a0 <\/em>A codicil is a document used to change a Will that has already been made. You can find more information about codicils in how to leave a gift to charity in your Will.<\/h5>\nEstate<\/span>:<\/strong><\/em>\u00a0 Your estate is the total sum of your personal possessions, property and money minus any liabilities.<\/h5>\nExecutor(s)<\/span>:<\/strong><\/em>\u00a0 The person or people that you appoint to ensure your final wishes are carried out. These can be professionals, friends, family members or institutions such as banks and some charities.<\/h5>\nGuardian<\/strong><\/em><\/span>:\u00a0 Someone who is responsible for children until they become 18.<\/h5>\nInheritance Tax<\/span>:<\/strong><\/em>\u00a0 This tax is paid on the portion of your estate that is above the nil-rate threshold.<\/h5>\nIntestate<\/strong><\/em><\/span>:\u00a0 The word used to describe someone who has died without a Will.<\/h5>\nLegacy<\/strong><\/em><\/span>:\u00a0 Another word for a gift or bequest left in your Will.<\/h5>\nProbate<\/strong><\/em><\/span>:\u00a0 When somebody dies leaving a Will, their executors will usually need to apply for a grant of probate. Once this is obtained, the executors can deal with the wishes expressed in the Will and distribute the gifts that have been left.<\/h5>\nResidue<\/strong><\/em><\/span>:\u00a0 This is what is left of your estate after any outstanding debts, taxes, pecuniary and specific bequests have been distributed to beneficiaries.<\/h5>\nTestator<\/strong><\/em><\/span>:\u00a0 The name given to a person who has made a Will.<\/h5>\nTrustee(s)<\/span>:<\/strong><\/em>\u00a0 One or more people who manage a trust.<\/h5>\n <\/div>\r\n <\/div>\r\n\r\n\r\n\r\n <\/div><\/p>","protected":false},"excerpt":{"rendered":"Miala tsiny fa tsy mbola misy amin’ny teny malagasy ity lahatsoratra ity. Your legacy can help build a future of hope in Madagascar A legacy to Money for Madagascar is a powerful expression of your commitment to building a brighter future for the people and wildlife of Madagascar. Deciding who to remember in your Will is a very personal decision.\u00a0 After considering the needs of your loved ones, if you feel able to leave a gift to charity, please consider leaving a legacy to Money for Madagascar. Your gift could help communities in Madagascar to overcome poverty and protect their… <\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-no-sidebar.php","meta":{"footnotes":""},"class_list":["post-216","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/comments?post=216"}],"version-history":[{"count":5,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions"}],"predecessor-version":[{"id":16899,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions\/16899"}],"wp:attachment":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/media?parent=216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Has a charity helped you or somebody you love? Which causes are important to you?<\/h5>\nAfter you\u2019ve looked after your family and friends, you may wish to leave a gift to a charity close to your heart.<\/h5>\nThe donation can be as small or large as you like.<\/h5>\nMake a note of their charity name, address and registered charity number to give to your professional advisor.<\/h5>\nWe can provide you with these details for our member charities, or you can find details for all registered charities in the UK and Wales on the Charity Commission website.<\/h5>\nDetails for charities in Scotland can be found on the Office of the Scottish Charity Regulator.<\/h5>\n<\/h5>\n4. Who do you wish to be executors and guardians?<\/strong><\/span><\/h4>\nAnother important consideration when making a Will is the appointment of your executors \u2013 the people who will deal with your estate in the event of your death \u2013 as well as guardians for your children.<\/h5>\nIdeally, executors should be business-minded family or friends or could be professional advisors.<\/h5>\nRead our guidance for executors.<\/h5>\n<\/h5>\n5. How do you want to store your Will?<\/strong><\/span><\/h4>\nOnce written, most professional advisors will offer to store your Will for you so that the Will is not lost.<\/h5>\nIt may also be worth considering storing your Will with the Her Majesty\u2019s Court Service. When your Will is complete, you can also register it with a number of commercial organisations that operate Will registration schemes.<\/h5>\n
<\/p>\n <\/div>\r\n \r\n
\r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Guidance for Executors \u2013 FAQs<\/span>\r\n <\/div>\r\n \r\n We understand that administering the estate of a loved one can be difficult, but it can also be rewarding. As an executor or personal representative (in cases where there is no Will), you are responsible for ensuring that someone\u2019s last wishes are fulfilled.<\/h5>\nIf you\u2019re an executor, we can answer some of your questions in order to help you understand your duties.<\/h5>\nWhat is my role?<\/span><\/h5>\nAs an executor, your responsibilities include:<\/h5>\n\n- \n
Ensuring that all the property owned by the deceased person is kept safe and secure, as soon as possible after their death.<\/h5>\n<\/li>\n
- \n
Ensuring that any property or items of value are adequately insured.<\/h5>\n<\/li>\n
- \n
Collecting and, if appropriate, convert (sell) any assets due to the deceased person\u2019s estate<\/h5>\n<\/li>\n
- \n
Paying any outstanding taxes and debts (out of the deceased person\u2019s estate)<\/h5>\n<\/li>\n
- \n
Distributing the estate to those who are entitled to it under either the terms of the Will or intestacy<\/h5>\n<\/li>\n
- \n
Delivering up your grant of probate if required to by a court.<\/h5>\n<\/li>\n
- \n
What should I do if a charity is mentioned in the Will?<\/h5>\n<\/li>\n
- \n
If there is a named charity beneficiary in a Will, you should contact their legacy team to discuss the gift with them. Each charity will have different preferences on how they would like to receive legacy payments, so it is best to speak with them directly about this.<\/h5>\n<\/li>\n
- \n
What details does the charity need?<\/h5>\n<\/li>\n<\/ul>\nIn your role as executor, the named charity would find it useful to be informed of the following:<\/h5>\n\n- \n
1. Details of the person who has passed away:<\/h5>\nFull name<\/h5>\nLast known address and any other recent addresses<\/h5>\nDate of Will<\/h5>\nDate of death<\/h5>\nWhether the deceased was a lifetime supporter of the charity (this<\/h5>\nwould enable them to put a stop to any future promotional mailings)<\/h5>\n2. Some beneficiaries are entitled to a copy of the Will. For example, if they receive a share of the residue of the estate (what is left after any specific gifts have been made), you should provide such beneficiaries with this and also a list of the late benefactor\u2019s assets and liabilities at the date of death.<\/h5>\n3. You should also provide them with reasonable updates about the estate administration. This will allow them to understand the nature and contents of the estate and approve any key steps which you take during the administration, for example agreeing the sale price of a property. Such consultation can avoid problems arising in the future.<\/h5>\n<\/li>\n<\/ul>\nHow is the tax calculated?<\/span><\/h5>\nUK registered charities are exempt from paying Inheritance Tax, Capital Gains Tax and Income Tax.<\/h5>\nIf the estate contains a mixture of charitable and non-chartable beneficiaries, you should check the percentage of Inheritance Tax payable. If 10% or more of the net estate is left to charitable beneficiaries, a lower amount of Inheritance Tax (36%) may be payable on the non-charitable parts of the estate. You can check whether or not this lower rate will apply at Gov.uk.<\/h5>\nWho can I contact for further guidance?<\/span><\/h5>\nIf you are acting as an executor, you can find a solicitor in your local area who will be able to help answer any further questions you have.<\/h5>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Useful organisations<\/span>\r\n <\/div>\r\n \r\n To find out more about making a Will and leaving a gift to charity, please take a look at the links below:<\/h5>\n\n- \n
Gov.uk<\/h5>\n<\/li>\n
- \n
Citizen\u2019s Advice<\/h5>\n<\/li>\n
- \n
Society of Trust and Estate Practitioners<\/h5>\n<\/li>\n
- \n
The Law Society<\/h5>\n<\/li>\n
- \n
The Law Society Scotland<\/h5>\n<\/li>\n
- \n
The Law Society of Northern Ireland<\/h5>\n<\/li>\n
- \n
Institute of Legacy Management<\/h5>\n<\/li>\n
- \n
Institute of Professional Willwriters<\/h5>\n<\/h5>\n<\/li>\n
- \n
Certainty National Will Register<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for England and Wales<\/h5>\n<\/h5>\n<\/li>\n
- \n
OSCR \u2013 Office of the Scottish Charity Regulator<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for Northern Ireland<\/h5>\n<\/h5>\n<\/li>\n
- \n
Co-op Legal Services<\/h5>\n<\/li>\n<\/ul>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Will writing jargon buster<\/span>\r\n <\/div>\r\n \r\n When it comes to Will writing, you might come across some terms that you haven\u2019t heard before. Here are the explanations for some of the most common terms used in Will writing.<\/h5>\nBeneficiary<\/strong><\/span><\/em>:\u00a0 A person, or an organisation, to whom you leave something in your Will.<\/h5>\nBequest<\/strong><\/em>:<\/span>\u00a0 A term for a gift that you leave to a person or organisation in your will. There are several different types of bequest, but the main ones are:<\/h5>\nResiduary bequest:<\/strong><\/em><\/span>\u00a0 A gift made of what is left of your estate after all other gifts have been handed out and debts paid off. To do this you may leave either the total of the residue or a percentage.<\/h5>\nPecuniary bequest<\/span>:<\/strong>\u00a0 <\/em>A gift made of a fixed sum of money. Unfortunately, the effect of inflation means that the value of a pecuniary gift will decrease over time.<\/h5>\nSpecific bequest<\/span>:<\/strong><\/em>\u00a0 A particular named item left as a gift in your Will. For example, a piece of jewellery, furniture or a painting.<\/h5>\nCodicil<\/span>:<\/strong>\u00a0 <\/em>A codicil is a document used to change a Will that has already been made. You can find more information about codicils in how to leave a gift to charity in your Will.<\/h5>\nEstate<\/span>:<\/strong><\/em>\u00a0 Your estate is the total sum of your personal possessions, property and money minus any liabilities.<\/h5>\nExecutor(s)<\/span>:<\/strong><\/em>\u00a0 The person or people that you appoint to ensure your final wishes are carried out. These can be professionals, friends, family members or institutions such as banks and some charities.<\/h5>\nGuardian<\/strong><\/em><\/span>:\u00a0 Someone who is responsible for children until they become 18.<\/h5>\nInheritance Tax<\/span>:<\/strong><\/em>\u00a0 This tax is paid on the portion of your estate that is above the nil-rate threshold.<\/h5>\nIntestate<\/strong><\/em><\/span>:\u00a0 The word used to describe someone who has died without a Will.<\/h5>\nLegacy<\/strong><\/em><\/span>:\u00a0 Another word for a gift or bequest left in your Will.<\/h5>\nProbate<\/strong><\/em><\/span>:\u00a0 When somebody dies leaving a Will, their executors will usually need to apply for a grant of probate. Once this is obtained, the executors can deal with the wishes expressed in the Will and distribute the gifts that have been left.<\/h5>\nResidue<\/strong><\/em><\/span>:\u00a0 This is what is left of your estate after any outstanding debts, taxes, pecuniary and specific bequests have been distributed to beneficiaries.<\/h5>\nTestator<\/strong><\/em><\/span>:\u00a0 The name given to a person who has made a Will.<\/h5>\nTrustee(s)<\/span>:<\/strong><\/em>\u00a0 One or more people who manage a trust.<\/h5>\n <\/div>\r\n <\/div>\r\n\r\n\r\n\r\n <\/div><\/p>","protected":false},"excerpt":{"rendered":"Miala tsiny fa tsy mbola misy amin’ny teny malagasy ity lahatsoratra ity. Your legacy can help build a future of hope in Madagascar A legacy to Money for Madagascar is a powerful expression of your commitment to building a brighter future for the people and wildlife of Madagascar. Deciding who to remember in your Will is a very personal decision.\u00a0 After considering the needs of your loved ones, if you feel able to leave a gift to charity, please consider leaving a legacy to Money for Madagascar. Your gift could help communities in Madagascar to overcome poverty and protect their… <\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-no-sidebar.php","meta":{"footnotes":""},"class_list":["post-216","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/comments?post=216"}],"version-history":[{"count":5,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions"}],"predecessor-version":[{"id":16899,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions\/16899"}],"wp:attachment":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/media?parent=216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
The donation can be as small or large as you like.<\/h5>\nMake a note of their charity name, address and registered charity number to give to your professional advisor.<\/h5>\nWe can provide you with these details for our member charities, or you can find details for all registered charities in the UK and Wales on the Charity Commission website.<\/h5>\nDetails for charities in Scotland can be found on the Office of the Scottish Charity Regulator.<\/h5>\n<\/h5>\n4. Who do you wish to be executors and guardians?<\/strong><\/span><\/h4>\nAnother important consideration when making a Will is the appointment of your executors \u2013 the people who will deal with your estate in the event of your death \u2013 as well as guardians for your children.<\/h5>\nIdeally, executors should be business-minded family or friends or could be professional advisors.<\/h5>\nRead our guidance for executors.<\/h5>\n<\/h5>\n5. How do you want to store your Will?<\/strong><\/span><\/h4>\nOnce written, most professional advisors will offer to store your Will for you so that the Will is not lost.<\/h5>\nIt may also be worth considering storing your Will with the Her Majesty\u2019s Court Service. When your Will is complete, you can also register it with a number of commercial organisations that operate Will registration schemes.<\/h5>\n
<\/p>\n <\/div>\r\n \r\n
\r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Guidance for Executors \u2013 FAQs<\/span>\r\n <\/div>\r\n \r\n We understand that administering the estate of a loved one can be difficult, but it can also be rewarding. As an executor or personal representative (in cases where there is no Will), you are responsible for ensuring that someone\u2019s last wishes are fulfilled.<\/h5>\nIf you\u2019re an executor, we can answer some of your questions in order to help you understand your duties.<\/h5>\nWhat is my role?<\/span><\/h5>\nAs an executor, your responsibilities include:<\/h5>\n\n- \n
Ensuring that all the property owned by the deceased person is kept safe and secure, as soon as possible after their death.<\/h5>\n<\/li>\n
- \n
Ensuring that any property or items of value are adequately insured.<\/h5>\n<\/li>\n
- \n
Collecting and, if appropriate, convert (sell) any assets due to the deceased person\u2019s estate<\/h5>\n<\/li>\n
- \n
Paying any outstanding taxes and debts (out of the deceased person\u2019s estate)<\/h5>\n<\/li>\n
- \n
Distributing the estate to those who are entitled to it under either the terms of the Will or intestacy<\/h5>\n<\/li>\n
- \n
Delivering up your grant of probate if required to by a court.<\/h5>\n<\/li>\n
- \n
What should I do if a charity is mentioned in the Will?<\/h5>\n<\/li>\n
- \n
If there is a named charity beneficiary in a Will, you should contact their legacy team to discuss the gift with them. Each charity will have different preferences on how they would like to receive legacy payments, so it is best to speak with them directly about this.<\/h5>\n<\/li>\n
- \n
What details does the charity need?<\/h5>\n<\/li>\n<\/ul>\nIn your role as executor, the named charity would find it useful to be informed of the following:<\/h5>\n\n- \n
1. Details of the person who has passed away:<\/h5>\nFull name<\/h5>\nLast known address and any other recent addresses<\/h5>\nDate of Will<\/h5>\nDate of death<\/h5>\nWhether the deceased was a lifetime supporter of the charity (this<\/h5>\nwould enable them to put a stop to any future promotional mailings)<\/h5>\n2. Some beneficiaries are entitled to a copy of the Will. For example, if they receive a share of the residue of the estate (what is left after any specific gifts have been made), you should provide such beneficiaries with this and also a list of the late benefactor\u2019s assets and liabilities at the date of death.<\/h5>\n3. You should also provide them with reasonable updates about the estate administration. This will allow them to understand the nature and contents of the estate and approve any key steps which you take during the administration, for example agreeing the sale price of a property. Such consultation can avoid problems arising in the future.<\/h5>\n<\/li>\n<\/ul>\nHow is the tax calculated?<\/span><\/h5>\nUK registered charities are exempt from paying Inheritance Tax, Capital Gains Tax and Income Tax.<\/h5>\nIf the estate contains a mixture of charitable and non-chartable beneficiaries, you should check the percentage of Inheritance Tax payable. If 10% or more of the net estate is left to charitable beneficiaries, a lower amount of Inheritance Tax (36%) may be payable on the non-charitable parts of the estate. You can check whether or not this lower rate will apply at Gov.uk.<\/h5>\nWho can I contact for further guidance?<\/span><\/h5>\nIf you are acting as an executor, you can find a solicitor in your local area who will be able to help answer any further questions you have.<\/h5>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Useful organisations<\/span>\r\n <\/div>\r\n \r\n To find out more about making a Will and leaving a gift to charity, please take a look at the links below:<\/h5>\n\n- \n
Gov.uk<\/h5>\n<\/li>\n
- \n
Citizen\u2019s Advice<\/h5>\n<\/li>\n
- \n
Society of Trust and Estate Practitioners<\/h5>\n<\/li>\n
- \n
The Law Society<\/h5>\n<\/li>\n
- \n
The Law Society Scotland<\/h5>\n<\/li>\n
- \n
The Law Society of Northern Ireland<\/h5>\n<\/li>\n
- \n
Institute of Legacy Management<\/h5>\n<\/li>\n
- \n
Institute of Professional Willwriters<\/h5>\n<\/h5>\n<\/li>\n
- \n
Certainty National Will Register<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for England and Wales<\/h5>\n<\/h5>\n<\/li>\n
- \n
OSCR \u2013 Office of the Scottish Charity Regulator<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for Northern Ireland<\/h5>\n<\/h5>\n<\/li>\n
- \n
Co-op Legal Services<\/h5>\n<\/li>\n<\/ul>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Will writing jargon buster<\/span>\r\n <\/div>\r\n \r\n When it comes to Will writing, you might come across some terms that you haven\u2019t heard before. Here are the explanations for some of the most common terms used in Will writing.<\/h5>\nBeneficiary<\/strong><\/span><\/em>:\u00a0 A person, or an organisation, to whom you leave something in your Will.<\/h5>\nBequest<\/strong><\/em>:<\/span>\u00a0 A term for a gift that you leave to a person or organisation in your will. There are several different types of bequest, but the main ones are:<\/h5>\nResiduary bequest:<\/strong><\/em><\/span>\u00a0 A gift made of what is left of your estate after all other gifts have been handed out and debts paid off. To do this you may leave either the total of the residue or a percentage.<\/h5>\nPecuniary bequest<\/span>:<\/strong>\u00a0 <\/em>A gift made of a fixed sum of money. Unfortunately, the effect of inflation means that the value of a pecuniary gift will decrease over time.<\/h5>\nSpecific bequest<\/span>:<\/strong><\/em>\u00a0 A particular named item left as a gift in your Will. For example, a piece of jewellery, furniture or a painting.<\/h5>\nCodicil<\/span>:<\/strong>\u00a0 <\/em>A codicil is a document used to change a Will that has already been made. You can find more information about codicils in how to leave a gift to charity in your Will.<\/h5>\nEstate<\/span>:<\/strong><\/em>\u00a0 Your estate is the total sum of your personal possessions, property and money minus any liabilities.<\/h5>\nExecutor(s)<\/span>:<\/strong><\/em>\u00a0 The person or people that you appoint to ensure your final wishes are carried out. These can be professionals, friends, family members or institutions such as banks and some charities.<\/h5>\nGuardian<\/strong><\/em><\/span>:\u00a0 Someone who is responsible for children until they become 18.<\/h5>\nInheritance Tax<\/span>:<\/strong><\/em>\u00a0 This tax is paid on the portion of your estate that is above the nil-rate threshold.<\/h5>\nIntestate<\/strong><\/em><\/span>:\u00a0 The word used to describe someone who has died without a Will.<\/h5>\nLegacy<\/strong><\/em><\/span>:\u00a0 Another word for a gift or bequest left in your Will.<\/h5>\nProbate<\/strong><\/em><\/span>:\u00a0 When somebody dies leaving a Will, their executors will usually need to apply for a grant of probate. Once this is obtained, the executors can deal with the wishes expressed in the Will and distribute the gifts that have been left.<\/h5>\nResidue<\/strong><\/em><\/span>:\u00a0 This is what is left of your estate after any outstanding debts, taxes, pecuniary and specific bequests have been distributed to beneficiaries.<\/h5>\nTestator<\/strong><\/em><\/span>:\u00a0 The name given to a person who has made a Will.<\/h5>\nTrustee(s)<\/span>:<\/strong><\/em>\u00a0 One or more people who manage a trust.<\/h5>\n <\/div>\r\n <\/div>\r\n\r\n\r\n\r\n <\/div><\/p>","protected":false},"excerpt":{"rendered":"Miala tsiny fa tsy mbola misy amin’ny teny malagasy ity lahatsoratra ity. Your legacy can help build a future of hope in Madagascar A legacy to Money for Madagascar is a powerful expression of your commitment to building a brighter future for the people and wildlife of Madagascar. Deciding who to remember in your Will is a very personal decision.\u00a0 After considering the needs of your loved ones, if you feel able to leave a gift to charity, please consider leaving a legacy to Money for Madagascar. Your gift could help communities in Madagascar to overcome poverty and protect their… <\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-no-sidebar.php","meta":{"footnotes":""},"class_list":["post-216","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/comments?post=216"}],"version-history":[{"count":5,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions"}],"predecessor-version":[{"id":16899,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions\/16899"}],"wp:attachment":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/media?parent=216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
We can provide you with these details for our member charities, or you can find details for all registered charities in the UK and Wales on the Charity Commission website.<\/h5>\nDetails for charities in Scotland can be found on the Office of the Scottish Charity Regulator.<\/h5>\n<\/h5>\n4. Who do you wish to be executors and guardians?<\/strong><\/span><\/h4>\nAnother important consideration when making a Will is the appointment of your executors \u2013 the people who will deal with your estate in the event of your death \u2013 as well as guardians for your children.<\/h5>\nIdeally, executors should be business-minded family or friends or could be professional advisors.<\/h5>\nRead our guidance for executors.<\/h5>\n<\/h5>\n5. How do you want to store your Will?<\/strong><\/span><\/h4>\nOnce written, most professional advisors will offer to store your Will for you so that the Will is not lost.<\/h5>\nIt may also be worth considering storing your Will with the Her Majesty\u2019s Court Service. When your Will is complete, you can also register it with a number of commercial organisations that operate Will registration schemes.<\/h5>\n
<\/p>\n <\/div>\r\n \r\n
\r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Guidance for Executors \u2013 FAQs<\/span>\r\n <\/div>\r\n \r\n We understand that administering the estate of a loved one can be difficult, but it can also be rewarding. As an executor or personal representative (in cases where there is no Will), you are responsible for ensuring that someone\u2019s last wishes are fulfilled.<\/h5>\nIf you\u2019re an executor, we can answer some of your questions in order to help you understand your duties.<\/h5>\nWhat is my role?<\/span><\/h5>\nAs an executor, your responsibilities include:<\/h5>\n\n- \n
Ensuring that all the property owned by the deceased person is kept safe and secure, as soon as possible after their death.<\/h5>\n<\/li>\n
- \n
Ensuring that any property or items of value are adequately insured.<\/h5>\n<\/li>\n
- \n
Collecting and, if appropriate, convert (sell) any assets due to the deceased person\u2019s estate<\/h5>\n<\/li>\n
- \n
Paying any outstanding taxes and debts (out of the deceased person\u2019s estate)<\/h5>\n<\/li>\n
- \n
Distributing the estate to those who are entitled to it under either the terms of the Will or intestacy<\/h5>\n<\/li>\n
- \n
Delivering up your grant of probate if required to by a court.<\/h5>\n<\/li>\n
- \n
What should I do if a charity is mentioned in the Will?<\/h5>\n<\/li>\n
- \n
If there is a named charity beneficiary in a Will, you should contact their legacy team to discuss the gift with them. Each charity will have different preferences on how they would like to receive legacy payments, so it is best to speak with them directly about this.<\/h5>\n<\/li>\n
- \n
What details does the charity need?<\/h5>\n<\/li>\n<\/ul>\nIn your role as executor, the named charity would find it useful to be informed of the following:<\/h5>\n\n- \n
1. Details of the person who has passed away:<\/h5>\nFull name<\/h5>\nLast known address and any other recent addresses<\/h5>\nDate of Will<\/h5>\nDate of death<\/h5>\nWhether the deceased was a lifetime supporter of the charity (this<\/h5>\nwould enable them to put a stop to any future promotional mailings)<\/h5>\n2. Some beneficiaries are entitled to a copy of the Will. For example, if they receive a share of the residue of the estate (what is left after any specific gifts have been made), you should provide such beneficiaries with this and also a list of the late benefactor\u2019s assets and liabilities at the date of death.<\/h5>\n3. You should also provide them with reasonable updates about the estate administration. This will allow them to understand the nature and contents of the estate and approve any key steps which you take during the administration, for example agreeing the sale price of a property. Such consultation can avoid problems arising in the future.<\/h5>\n<\/li>\n<\/ul>\nHow is the tax calculated?<\/span><\/h5>\nUK registered charities are exempt from paying Inheritance Tax, Capital Gains Tax and Income Tax.<\/h5>\nIf the estate contains a mixture of charitable and non-chartable beneficiaries, you should check the percentage of Inheritance Tax payable. If 10% or more of the net estate is left to charitable beneficiaries, a lower amount of Inheritance Tax (36%) may be payable on the non-charitable parts of the estate. You can check whether or not this lower rate will apply at Gov.uk.<\/h5>\nWho can I contact for further guidance?<\/span><\/h5>\nIf you are acting as an executor, you can find a solicitor in your local area who will be able to help answer any further questions you have.<\/h5>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Useful organisations<\/span>\r\n <\/div>\r\n \r\n To find out more about making a Will and leaving a gift to charity, please take a look at the links below:<\/h5>\n\n- \n
Gov.uk<\/h5>\n<\/li>\n
- \n
Citizen\u2019s Advice<\/h5>\n<\/li>\n
- \n
Society of Trust and Estate Practitioners<\/h5>\n<\/li>\n
- \n
The Law Society<\/h5>\n<\/li>\n
- \n
The Law Society Scotland<\/h5>\n<\/li>\n
- \n
The Law Society of Northern Ireland<\/h5>\n<\/li>\n
- \n
Institute of Legacy Management<\/h5>\n<\/li>\n
- \n
Institute of Professional Willwriters<\/h5>\n<\/h5>\n<\/li>\n
- \n
Certainty National Will Register<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for England and Wales<\/h5>\n<\/h5>\n<\/li>\n
- \n
OSCR \u2013 Office of the Scottish Charity Regulator<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for Northern Ireland<\/h5>\n<\/h5>\n<\/li>\n
- \n
Co-op Legal Services<\/h5>\n<\/li>\n<\/ul>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Will writing jargon buster<\/span>\r\n <\/div>\r\n \r\n When it comes to Will writing, you might come across some terms that you haven\u2019t heard before. Here are the explanations for some of the most common terms used in Will writing.<\/h5>\nBeneficiary<\/strong><\/span><\/em>:\u00a0 A person, or an organisation, to whom you leave something in your Will.<\/h5>\nBequest<\/strong><\/em>:<\/span>\u00a0 A term for a gift that you leave to a person or organisation in your will. There are several different types of bequest, but the main ones are:<\/h5>\nResiduary bequest:<\/strong><\/em><\/span>\u00a0 A gift made of what is left of your estate after all other gifts have been handed out and debts paid off. To do this you may leave either the total of the residue or a percentage.<\/h5>\nPecuniary bequest<\/span>:<\/strong>\u00a0 <\/em>A gift made of a fixed sum of money. Unfortunately, the effect of inflation means that the value of a pecuniary gift will decrease over time.<\/h5>\nSpecific bequest<\/span>:<\/strong><\/em>\u00a0 A particular named item left as a gift in your Will. For example, a piece of jewellery, furniture or a painting.<\/h5>\nCodicil<\/span>:<\/strong>\u00a0 <\/em>A codicil is a document used to change a Will that has already been made. You can find more information about codicils in how to leave a gift to charity in your Will.<\/h5>\nEstate<\/span>:<\/strong><\/em>\u00a0 Your estate is the total sum of your personal possessions, property and money minus any liabilities.<\/h5>\nExecutor(s)<\/span>:<\/strong><\/em>\u00a0 The person or people that you appoint to ensure your final wishes are carried out. These can be professionals, friends, family members or institutions such as banks and some charities.<\/h5>\nGuardian<\/strong><\/em><\/span>:\u00a0 Someone who is responsible for children until they become 18.<\/h5>\nInheritance Tax<\/span>:<\/strong><\/em>\u00a0 This tax is paid on the portion of your estate that is above the nil-rate threshold.<\/h5>\nIntestate<\/strong><\/em><\/span>:\u00a0 The word used to describe someone who has died without a Will.<\/h5>\nLegacy<\/strong><\/em><\/span>:\u00a0 Another word for a gift or bequest left in your Will.<\/h5>\nProbate<\/strong><\/em><\/span>:\u00a0 When somebody dies leaving a Will, their executors will usually need to apply for a grant of probate. Once this is obtained, the executors can deal with the wishes expressed in the Will and distribute the gifts that have been left.<\/h5>\nResidue<\/strong><\/em><\/span>:\u00a0 This is what is left of your estate after any outstanding debts, taxes, pecuniary and specific bequests have been distributed to beneficiaries.<\/h5>\nTestator<\/strong><\/em><\/span>:\u00a0 The name given to a person who has made a Will.<\/h5>\nTrustee(s)<\/span>:<\/strong><\/em>\u00a0 One or more people who manage a trust.<\/h5>\n <\/div>\r\n <\/div>\r\n\r\n\r\n\r\n <\/div><\/p>","protected":false},"excerpt":{"rendered":"Miala tsiny fa tsy mbola misy amin’ny teny malagasy ity lahatsoratra ity. Your legacy can help build a future of hope in Madagascar A legacy to Money for Madagascar is a powerful expression of your commitment to building a brighter future for the people and wildlife of Madagascar. Deciding who to remember in your Will is a very personal decision.\u00a0 After considering the needs of your loved ones, if you feel able to leave a gift to charity, please consider leaving a legacy to Money for Madagascar. Your gift could help communities in Madagascar to overcome poverty and protect their… <\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-no-sidebar.php","meta":{"footnotes":""},"class_list":["post-216","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/comments?post=216"}],"version-history":[{"count":5,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions"}],"predecessor-version":[{"id":16899,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions\/16899"}],"wp:attachment":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/media?parent=216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
<\/h5>\n4. Who do you wish to be executors and guardians?<\/strong><\/span><\/h4>\nAnother important consideration when making a Will is the appointment of your executors \u2013 the people who will deal with your estate in the event of your death \u2013 as well as guardians for your children.<\/h5>\nIdeally, executors should be business-minded family or friends or could be professional advisors.<\/h5>\nRead our guidance for executors.<\/h5>\n<\/h5>\n5. How do you want to store your Will?<\/strong><\/span><\/h4>\nOnce written, most professional advisors will offer to store your Will for you so that the Will is not lost.<\/h5>\nIt may also be worth considering storing your Will with the Her Majesty\u2019s Court Service. When your Will is complete, you can also register it with a number of commercial organisations that operate Will registration schemes.<\/h5>\n
<\/p>\n <\/div>\r\n \r\n
\r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Guidance for Executors \u2013 FAQs<\/span>\r\n <\/div>\r\n \r\n We understand that administering the estate of a loved one can be difficult, but it can also be rewarding. As an executor or personal representative (in cases where there is no Will), you are responsible for ensuring that someone\u2019s last wishes are fulfilled.<\/h5>\nIf you\u2019re an executor, we can answer some of your questions in order to help you understand your duties.<\/h5>\nWhat is my role?<\/span><\/h5>\nAs an executor, your responsibilities include:<\/h5>\n\n- \n
Ensuring that all the property owned by the deceased person is kept safe and secure, as soon as possible after their death.<\/h5>\n<\/li>\n
- \n
Ensuring that any property or items of value are adequately insured.<\/h5>\n<\/li>\n
- \n
Collecting and, if appropriate, convert (sell) any assets due to the deceased person\u2019s estate<\/h5>\n<\/li>\n
- \n
Paying any outstanding taxes and debts (out of the deceased person\u2019s estate)<\/h5>\n<\/li>\n
- \n
Distributing the estate to those who are entitled to it under either the terms of the Will or intestacy<\/h5>\n<\/li>\n
- \n
Delivering up your grant of probate if required to by a court.<\/h5>\n<\/li>\n
- \n
What should I do if a charity is mentioned in the Will?<\/h5>\n<\/li>\n
- \n
If there is a named charity beneficiary in a Will, you should contact their legacy team to discuss the gift with them. Each charity will have different preferences on how they would like to receive legacy payments, so it is best to speak with them directly about this.<\/h5>\n<\/li>\n
- \n
What details does the charity need?<\/h5>\n<\/li>\n<\/ul>\nIn your role as executor, the named charity would find it useful to be informed of the following:<\/h5>\n\n- \n
1. Details of the person who has passed away:<\/h5>\nFull name<\/h5>\nLast known address and any other recent addresses<\/h5>\nDate of Will<\/h5>\nDate of death<\/h5>\nWhether the deceased was a lifetime supporter of the charity (this<\/h5>\nwould enable them to put a stop to any future promotional mailings)<\/h5>\n2. Some beneficiaries are entitled to a copy of the Will. For example, if they receive a share of the residue of the estate (what is left after any specific gifts have been made), you should provide such beneficiaries with this and also a list of the late benefactor\u2019s assets and liabilities at the date of death.<\/h5>\n3. You should also provide them with reasonable updates about the estate administration. This will allow them to understand the nature and contents of the estate and approve any key steps which you take during the administration, for example agreeing the sale price of a property. Such consultation can avoid problems arising in the future.<\/h5>\n<\/li>\n<\/ul>\nHow is the tax calculated?<\/span><\/h5>\nUK registered charities are exempt from paying Inheritance Tax, Capital Gains Tax and Income Tax.<\/h5>\nIf the estate contains a mixture of charitable and non-chartable beneficiaries, you should check the percentage of Inheritance Tax payable. If 10% or more of the net estate is left to charitable beneficiaries, a lower amount of Inheritance Tax (36%) may be payable on the non-charitable parts of the estate. You can check whether or not this lower rate will apply at Gov.uk.<\/h5>\nWho can I contact for further guidance?<\/span><\/h5>\nIf you are acting as an executor, you can find a solicitor in your local area who will be able to help answer any further questions you have.<\/h5>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Useful organisations<\/span>\r\n <\/div>\r\n \r\n To find out more about making a Will and leaving a gift to charity, please take a look at the links below:<\/h5>\n\n- \n
Gov.uk<\/h5>\n<\/li>\n
- \n
Citizen\u2019s Advice<\/h5>\n<\/li>\n
- \n
Society of Trust and Estate Practitioners<\/h5>\n<\/li>\n
- \n
The Law Society<\/h5>\n<\/li>\n
- \n
The Law Society Scotland<\/h5>\n<\/li>\n
- \n
The Law Society of Northern Ireland<\/h5>\n<\/li>\n
- \n
Institute of Legacy Management<\/h5>\n<\/li>\n
- \n
Institute of Professional Willwriters<\/h5>\n<\/h5>\n<\/li>\n
- \n
Certainty National Will Register<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for England and Wales<\/h5>\n<\/h5>\n<\/li>\n
- \n
OSCR \u2013 Office of the Scottish Charity Regulator<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for Northern Ireland<\/h5>\n<\/h5>\n<\/li>\n
- \n
Co-op Legal Services<\/h5>\n<\/li>\n<\/ul>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Will writing jargon buster<\/span>\r\n <\/div>\r\n \r\n When it comes to Will writing, you might come across some terms that you haven\u2019t heard before. Here are the explanations for some of the most common terms used in Will writing.<\/h5>\nBeneficiary<\/strong><\/span><\/em>:\u00a0 A person, or an organisation, to whom you leave something in your Will.<\/h5>\nBequest<\/strong><\/em>:<\/span>\u00a0 A term for a gift that you leave to a person or organisation in your will. There are several different types of bequest, but the main ones are:<\/h5>\nResiduary bequest:<\/strong><\/em><\/span>\u00a0 A gift made of what is left of your estate after all other gifts have been handed out and debts paid off. To do this you may leave either the total of the residue or a percentage.<\/h5>\nPecuniary bequest<\/span>:<\/strong>\u00a0 <\/em>A gift made of a fixed sum of money. Unfortunately, the effect of inflation means that the value of a pecuniary gift will decrease over time.<\/h5>\nSpecific bequest<\/span>:<\/strong><\/em>\u00a0 A particular named item left as a gift in your Will. For example, a piece of jewellery, furniture or a painting.<\/h5>\nCodicil<\/span>:<\/strong>\u00a0 <\/em>A codicil is a document used to change a Will that has already been made. You can find more information about codicils in how to leave a gift to charity in your Will.<\/h5>\nEstate<\/span>:<\/strong><\/em>\u00a0 Your estate is the total sum of your personal possessions, property and money minus any liabilities.<\/h5>\nExecutor(s)<\/span>:<\/strong><\/em>\u00a0 The person or people that you appoint to ensure your final wishes are carried out. These can be professionals, friends, family members or institutions such as banks and some charities.<\/h5>\nGuardian<\/strong><\/em><\/span>:\u00a0 Someone who is responsible for children until they become 18.<\/h5>\nInheritance Tax<\/span>:<\/strong><\/em>\u00a0 This tax is paid on the portion of your estate that is above the nil-rate threshold.<\/h5>\nIntestate<\/strong><\/em><\/span>:\u00a0 The word used to describe someone who has died without a Will.<\/h5>\nLegacy<\/strong><\/em><\/span>:\u00a0 Another word for a gift or bequest left in your Will.<\/h5>\nProbate<\/strong><\/em><\/span>:\u00a0 When somebody dies leaving a Will, their executors will usually need to apply for a grant of probate. Once this is obtained, the executors can deal with the wishes expressed in the Will and distribute the gifts that have been left.<\/h5>\nResidue<\/strong><\/em><\/span>:\u00a0 This is what is left of your estate after any outstanding debts, taxes, pecuniary and specific bequests have been distributed to beneficiaries.<\/h5>\nTestator<\/strong><\/em><\/span>:\u00a0 The name given to a person who has made a Will.<\/h5>\nTrustee(s)<\/span>:<\/strong><\/em>\u00a0 One or more people who manage a trust.<\/h5>\n <\/div>\r\n <\/div>\r\n\r\n\r\n\r\n <\/div><\/p>","protected":false},"excerpt":{"rendered":"Miala tsiny fa tsy mbola misy amin’ny teny malagasy ity lahatsoratra ity. Your legacy can help build a future of hope in Madagascar A legacy to Money for Madagascar is a powerful expression of your commitment to building a brighter future for the people and wildlife of Madagascar. Deciding who to remember in your Will is a very personal decision.\u00a0 After considering the needs of your loved ones, if you feel able to leave a gift to charity, please consider leaving a legacy to Money for Madagascar. Your gift could help communities in Madagascar to overcome poverty and protect their… <\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-no-sidebar.php","meta":{"footnotes":""},"class_list":["post-216","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/comments?post=216"}],"version-history":[{"count":5,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions"}],"predecessor-version":[{"id":16899,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions\/16899"}],"wp:attachment":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/media?parent=216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Another important consideration when making a Will is the appointment of your executors \u2013 the people who will deal with your estate in the event of your death \u2013 as well as guardians for your children.<\/h5>\nIdeally, executors should be business-minded family or friends or could be professional advisors.<\/h5>\nRead our guidance for executors.<\/h5>\n<\/h5>\n5. How do you want to store your Will?<\/strong><\/span><\/h4>\nOnce written, most professional advisors will offer to store your Will for you so that the Will is not lost.<\/h5>\nIt may also be worth considering storing your Will with the Her Majesty\u2019s Court Service. When your Will is complete, you can also register it with a number of commercial organisations that operate Will registration schemes.<\/h5>\n
<\/p>\n <\/div>\r\n \r\n
\r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Guidance for Executors \u2013 FAQs<\/span>\r\n <\/div>\r\n \r\n We understand that administering the estate of a loved one can be difficult, but it can also be rewarding. As an executor or personal representative (in cases where there is no Will), you are responsible for ensuring that someone\u2019s last wishes are fulfilled.<\/h5>\nIf you\u2019re an executor, we can answer some of your questions in order to help you understand your duties.<\/h5>\nWhat is my role?<\/span><\/h5>\nAs an executor, your responsibilities include:<\/h5>\n\n- \n
Ensuring that all the property owned by the deceased person is kept safe and secure, as soon as possible after their death.<\/h5>\n<\/li>\n
- \n
Ensuring that any property or items of value are adequately insured.<\/h5>\n<\/li>\n
- \n
Collecting and, if appropriate, convert (sell) any assets due to the deceased person\u2019s estate<\/h5>\n<\/li>\n
- \n
Paying any outstanding taxes and debts (out of the deceased person\u2019s estate)<\/h5>\n<\/li>\n
- \n
Distributing the estate to those who are entitled to it under either the terms of the Will or intestacy<\/h5>\n<\/li>\n
- \n
Delivering up your grant of probate if required to by a court.<\/h5>\n<\/li>\n
- \n
What should I do if a charity is mentioned in the Will?<\/h5>\n<\/li>\n
- \n
If there is a named charity beneficiary in a Will, you should contact their legacy team to discuss the gift with them. Each charity will have different preferences on how they would like to receive legacy payments, so it is best to speak with them directly about this.<\/h5>\n<\/li>\n
- \n
What details does the charity need?<\/h5>\n<\/li>\n<\/ul>\nIn your role as executor, the named charity would find it useful to be informed of the following:<\/h5>\n\n- \n
1. Details of the person who has passed away:<\/h5>\nFull name<\/h5>\nLast known address and any other recent addresses<\/h5>\nDate of Will<\/h5>\nDate of death<\/h5>\nWhether the deceased was a lifetime supporter of the charity (this<\/h5>\nwould enable them to put a stop to any future promotional mailings)<\/h5>\n2. Some beneficiaries are entitled to a copy of the Will. For example, if they receive a share of the residue of the estate (what is left after any specific gifts have been made), you should provide such beneficiaries with this and also a list of the late benefactor\u2019s assets and liabilities at the date of death.<\/h5>\n3. You should also provide them with reasonable updates about the estate administration. This will allow them to understand the nature and contents of the estate and approve any key steps which you take during the administration, for example agreeing the sale price of a property. Such consultation can avoid problems arising in the future.<\/h5>\n<\/li>\n<\/ul>\nHow is the tax calculated?<\/span><\/h5>\nUK registered charities are exempt from paying Inheritance Tax, Capital Gains Tax and Income Tax.<\/h5>\nIf the estate contains a mixture of charitable and non-chartable beneficiaries, you should check the percentage of Inheritance Tax payable. If 10% or more of the net estate is left to charitable beneficiaries, a lower amount of Inheritance Tax (36%) may be payable on the non-charitable parts of the estate. You can check whether or not this lower rate will apply at Gov.uk.<\/h5>\nWho can I contact for further guidance?<\/span><\/h5>\nIf you are acting as an executor, you can find a solicitor in your local area who will be able to help answer any further questions you have.<\/h5>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Useful organisations<\/span>\r\n <\/div>\r\n \r\n To find out more about making a Will and leaving a gift to charity, please take a look at the links below:<\/h5>\n\n- \n
Gov.uk<\/h5>\n<\/li>\n
- \n
Citizen\u2019s Advice<\/h5>\n<\/li>\n
- \n
Society of Trust and Estate Practitioners<\/h5>\n<\/li>\n
- \n
The Law Society<\/h5>\n<\/li>\n
- \n
The Law Society Scotland<\/h5>\n<\/li>\n
- \n
The Law Society of Northern Ireland<\/h5>\n<\/li>\n
- \n
Institute of Legacy Management<\/h5>\n<\/li>\n
- \n
Institute of Professional Willwriters<\/h5>\n<\/h5>\n<\/li>\n
- \n
Certainty National Will Register<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for England and Wales<\/h5>\n<\/h5>\n<\/li>\n
- \n
OSCR \u2013 Office of the Scottish Charity Regulator<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for Northern Ireland<\/h5>\n<\/h5>\n<\/li>\n
- \n
Co-op Legal Services<\/h5>\n<\/li>\n<\/ul>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Will writing jargon buster<\/span>\r\n <\/div>\r\n \r\n When it comes to Will writing, you might come across some terms that you haven\u2019t heard before. Here are the explanations for some of the most common terms used in Will writing.<\/h5>\nBeneficiary<\/strong><\/span><\/em>:\u00a0 A person, or an organisation, to whom you leave something in your Will.<\/h5>\nBequest<\/strong><\/em>:<\/span>\u00a0 A term for a gift that you leave to a person or organisation in your will. There are several different types of bequest, but the main ones are:<\/h5>\nResiduary bequest:<\/strong><\/em><\/span>\u00a0 A gift made of what is left of your estate after all other gifts have been handed out and debts paid off. To do this you may leave either the total of the residue or a percentage.<\/h5>\nPecuniary bequest<\/span>:<\/strong>\u00a0 <\/em>A gift made of a fixed sum of money. Unfortunately, the effect of inflation means that the value of a pecuniary gift will decrease over time.<\/h5>\nSpecific bequest<\/span>:<\/strong><\/em>\u00a0 A particular named item left as a gift in your Will. For example, a piece of jewellery, furniture or a painting.<\/h5>\nCodicil<\/span>:<\/strong>\u00a0 <\/em>A codicil is a document used to change a Will that has already been made. You can find more information about codicils in how to leave a gift to charity in your Will.<\/h5>\nEstate<\/span>:<\/strong><\/em>\u00a0 Your estate is the total sum of your personal possessions, property and money minus any liabilities.<\/h5>\nExecutor(s)<\/span>:<\/strong><\/em>\u00a0 The person or people that you appoint to ensure your final wishes are carried out. These can be professionals, friends, family members or institutions such as banks and some charities.<\/h5>\nGuardian<\/strong><\/em><\/span>:\u00a0 Someone who is responsible for children until they become 18.<\/h5>\nInheritance Tax<\/span>:<\/strong><\/em>\u00a0 This tax is paid on the portion of your estate that is above the nil-rate threshold.<\/h5>\nIntestate<\/strong><\/em><\/span>:\u00a0 The word used to describe someone who has died without a Will.<\/h5>\nLegacy<\/strong><\/em><\/span>:\u00a0 Another word for a gift or bequest left in your Will.<\/h5>\nProbate<\/strong><\/em><\/span>:\u00a0 When somebody dies leaving a Will, their executors will usually need to apply for a grant of probate. Once this is obtained, the executors can deal with the wishes expressed in the Will and distribute the gifts that have been left.<\/h5>\nResidue<\/strong><\/em><\/span>:\u00a0 This is what is left of your estate after any outstanding debts, taxes, pecuniary and specific bequests have been distributed to beneficiaries.<\/h5>\nTestator<\/strong><\/em><\/span>:\u00a0 The name given to a person who has made a Will.<\/h5>\nTrustee(s)<\/span>:<\/strong><\/em>\u00a0 One or more people who manage a trust.<\/h5>\n <\/div>\r\n <\/div>\r\n\r\n\r\n\r\n <\/div><\/p>","protected":false},"excerpt":{"rendered":"Miala tsiny fa tsy mbola misy amin’ny teny malagasy ity lahatsoratra ity. Your legacy can help build a future of hope in Madagascar A legacy to Money for Madagascar is a powerful expression of your commitment to building a brighter future for the people and wildlife of Madagascar. Deciding who to remember in your Will is a very personal decision.\u00a0 After considering the needs of your loved ones, if you feel able to leave a gift to charity, please consider leaving a legacy to Money for Madagascar. Your gift could help communities in Madagascar to overcome poverty and protect their… <\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-no-sidebar.php","meta":{"footnotes":""},"class_list":["post-216","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/comments?post=216"}],"version-history":[{"count":5,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions"}],"predecessor-version":[{"id":16899,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions\/16899"}],"wp:attachment":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/media?parent=216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Read our guidance for executors.<\/h5>\n<\/h5>\n5. How do you want to store your Will?<\/strong><\/span><\/h4>\nOnce written, most professional advisors will offer to store your Will for you so that the Will is not lost.<\/h5>\nIt may also be worth considering storing your Will with the Her Majesty\u2019s Court Service. When your Will is complete, you can also register it with a number of commercial organisations that operate Will registration schemes.<\/h5>\n
<\/p>\n <\/div>\r\n \r\n
\r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Guidance for Executors \u2013 FAQs<\/span>\r\n <\/div>\r\n \r\n We understand that administering the estate of a loved one can be difficult, but it can also be rewarding. As an executor or personal representative (in cases where there is no Will), you are responsible for ensuring that someone\u2019s last wishes are fulfilled.<\/h5>\nIf you\u2019re an executor, we can answer some of your questions in order to help you understand your duties.<\/h5>\nWhat is my role?<\/span><\/h5>\nAs an executor, your responsibilities include:<\/h5>\n\n- \n
Ensuring that all the property owned by the deceased person is kept safe and secure, as soon as possible after their death.<\/h5>\n<\/li>\n
- \n
Ensuring that any property or items of value are adequately insured.<\/h5>\n<\/li>\n
- \n
Collecting and, if appropriate, convert (sell) any assets due to the deceased person\u2019s estate<\/h5>\n<\/li>\n
- \n
Paying any outstanding taxes and debts (out of the deceased person\u2019s estate)<\/h5>\n<\/li>\n
- \n
Distributing the estate to those who are entitled to it under either the terms of the Will or intestacy<\/h5>\n<\/li>\n
- \n
Delivering up your grant of probate if required to by a court.<\/h5>\n<\/li>\n
- \n
What should I do if a charity is mentioned in the Will?<\/h5>\n<\/li>\n
- \n
If there is a named charity beneficiary in a Will, you should contact their legacy team to discuss the gift with them. Each charity will have different preferences on how they would like to receive legacy payments, so it is best to speak with them directly about this.<\/h5>\n<\/li>\n
- \n
What details does the charity need?<\/h5>\n<\/li>\n<\/ul>\nIn your role as executor, the named charity would find it useful to be informed of the following:<\/h5>\n\n- \n
1. Details of the person who has passed away:<\/h5>\nFull name<\/h5>\nLast known address and any other recent addresses<\/h5>\nDate of Will<\/h5>\nDate of death<\/h5>\nWhether the deceased was a lifetime supporter of the charity (this<\/h5>\nwould enable them to put a stop to any future promotional mailings)<\/h5>\n2. Some beneficiaries are entitled to a copy of the Will. For example, if they receive a share of the residue of the estate (what is left after any specific gifts have been made), you should provide such beneficiaries with this and also a list of the late benefactor\u2019s assets and liabilities at the date of death.<\/h5>\n3. You should also provide them with reasonable updates about the estate administration. This will allow them to understand the nature and contents of the estate and approve any key steps which you take during the administration, for example agreeing the sale price of a property. Such consultation can avoid problems arising in the future.<\/h5>\n<\/li>\n<\/ul>\nHow is the tax calculated?<\/span><\/h5>\nUK registered charities are exempt from paying Inheritance Tax, Capital Gains Tax and Income Tax.<\/h5>\nIf the estate contains a mixture of charitable and non-chartable beneficiaries, you should check the percentage of Inheritance Tax payable. If 10% or more of the net estate is left to charitable beneficiaries, a lower amount of Inheritance Tax (36%) may be payable on the non-charitable parts of the estate. You can check whether or not this lower rate will apply at Gov.uk.<\/h5>\nWho can I contact for further guidance?<\/span><\/h5>\nIf you are acting as an executor, you can find a solicitor in your local area who will be able to help answer any further questions you have.<\/h5>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Useful organisations<\/span>\r\n <\/div>\r\n \r\n To find out more about making a Will and leaving a gift to charity, please take a look at the links below:<\/h5>\n\n- \n
Gov.uk<\/h5>\n<\/li>\n
- \n
Citizen\u2019s Advice<\/h5>\n<\/li>\n
- \n
Society of Trust and Estate Practitioners<\/h5>\n<\/li>\n
- \n
The Law Society<\/h5>\n<\/li>\n
- \n
The Law Society Scotland<\/h5>\n<\/li>\n
- \n
The Law Society of Northern Ireland<\/h5>\n<\/li>\n
- \n
Institute of Legacy Management<\/h5>\n<\/li>\n
- \n
Institute of Professional Willwriters<\/h5>\n<\/h5>\n<\/li>\n
- \n
Certainty National Will Register<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for England and Wales<\/h5>\n<\/h5>\n<\/li>\n
- \n
OSCR \u2013 Office of the Scottish Charity Regulator<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for Northern Ireland<\/h5>\n<\/h5>\n<\/li>\n
- \n
Co-op Legal Services<\/h5>\n<\/li>\n<\/ul>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Will writing jargon buster<\/span>\r\n <\/div>\r\n \r\n When it comes to Will writing, you might come across some terms that you haven\u2019t heard before. Here are the explanations for some of the most common terms used in Will writing.<\/h5>\nBeneficiary<\/strong><\/span><\/em>:\u00a0 A person, or an organisation, to whom you leave something in your Will.<\/h5>\nBequest<\/strong><\/em>:<\/span>\u00a0 A term for a gift that you leave to a person or organisation in your will. There are several different types of bequest, but the main ones are:<\/h5>\nResiduary bequest:<\/strong><\/em><\/span>\u00a0 A gift made of what is left of your estate after all other gifts have been handed out and debts paid off. To do this you may leave either the total of the residue or a percentage.<\/h5>\nPecuniary bequest<\/span>:<\/strong>\u00a0 <\/em>A gift made of a fixed sum of money. Unfortunately, the effect of inflation means that the value of a pecuniary gift will decrease over time.<\/h5>\nSpecific bequest<\/span>:<\/strong><\/em>\u00a0 A particular named item left as a gift in your Will. For example, a piece of jewellery, furniture or a painting.<\/h5>\nCodicil<\/span>:<\/strong>\u00a0 <\/em>A codicil is a document used to change a Will that has already been made. You can find more information about codicils in how to leave a gift to charity in your Will.<\/h5>\nEstate<\/span>:<\/strong><\/em>\u00a0 Your estate is the total sum of your personal possessions, property and money minus any liabilities.<\/h5>\nExecutor(s)<\/span>:<\/strong><\/em>\u00a0 The person or people that you appoint to ensure your final wishes are carried out. These can be professionals, friends, family members or institutions such as banks and some charities.<\/h5>\nGuardian<\/strong><\/em><\/span>:\u00a0 Someone who is responsible for children until they become 18.<\/h5>\nInheritance Tax<\/span>:<\/strong><\/em>\u00a0 This tax is paid on the portion of your estate that is above the nil-rate threshold.<\/h5>\nIntestate<\/strong><\/em><\/span>:\u00a0 The word used to describe someone who has died without a Will.<\/h5>\nLegacy<\/strong><\/em><\/span>:\u00a0 Another word for a gift or bequest left in your Will.<\/h5>\nProbate<\/strong><\/em><\/span>:\u00a0 When somebody dies leaving a Will, their executors will usually need to apply for a grant of probate. Once this is obtained, the executors can deal with the wishes expressed in the Will and distribute the gifts that have been left.<\/h5>\nResidue<\/strong><\/em><\/span>:\u00a0 This is what is left of your estate after any outstanding debts, taxes, pecuniary and specific bequests have been distributed to beneficiaries.<\/h5>\nTestator<\/strong><\/em><\/span>:\u00a0 The name given to a person who has made a Will.<\/h5>\nTrustee(s)<\/span>:<\/strong><\/em>\u00a0 One or more people who manage a trust.<\/h5>\n <\/div>\r\n <\/div>\r\n\r\n\r\n\r\n <\/div><\/p>","protected":false},"excerpt":{"rendered":"Miala tsiny fa tsy mbola misy amin’ny teny malagasy ity lahatsoratra ity. Your legacy can help build a future of hope in Madagascar A legacy to Money for Madagascar is a powerful expression of your commitment to building a brighter future for the people and wildlife of Madagascar. Deciding who to remember in your Will is a very personal decision.\u00a0 After considering the needs of your loved ones, if you feel able to leave a gift to charity, please consider leaving a legacy to Money for Madagascar. Your gift could help communities in Madagascar to overcome poverty and protect their… <\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-no-sidebar.php","meta":{"footnotes":""},"class_list":["post-216","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/comments?post=216"}],"version-history":[{"count":5,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions"}],"predecessor-version":[{"id":16899,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions\/16899"}],"wp:attachment":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/media?parent=216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
5. How do you want to store your Will?<\/strong><\/span><\/h4>\nOnce written, most professional advisors will offer to store your Will for you so that the Will is not lost.<\/h5>\nIt may also be worth considering storing your Will with the Her Majesty\u2019s Court Service. When your Will is complete, you can also register it with a number of commercial organisations that operate Will registration schemes.<\/h5>\n
<\/p>\n <\/div>\r\n \r\n
\r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Guidance for Executors \u2013 FAQs<\/span>\r\n <\/div>\r\n \r\n We understand that administering the estate of a loved one can be difficult, but it can also be rewarding. As an executor or personal representative (in cases where there is no Will), you are responsible for ensuring that someone\u2019s last wishes are fulfilled.<\/h5>\nIf you\u2019re an executor, we can answer some of your questions in order to help you understand your duties.<\/h5>\nWhat is my role?<\/span><\/h5>\nAs an executor, your responsibilities include:<\/h5>\n\n- \n
Ensuring that all the property owned by the deceased person is kept safe and secure, as soon as possible after their death.<\/h5>\n<\/li>\n
- \n
Ensuring that any property or items of value are adequately insured.<\/h5>\n<\/li>\n
- \n
Collecting and, if appropriate, convert (sell) any assets due to the deceased person\u2019s estate<\/h5>\n<\/li>\n
- \n
Paying any outstanding taxes and debts (out of the deceased person\u2019s estate)<\/h5>\n<\/li>\n
- \n
Distributing the estate to those who are entitled to it under either the terms of the Will or intestacy<\/h5>\n<\/li>\n
- \n
Delivering up your grant of probate if required to by a court.<\/h5>\n<\/li>\n
- \n
What should I do if a charity is mentioned in the Will?<\/h5>\n<\/li>\n
- \n
If there is a named charity beneficiary in a Will, you should contact their legacy team to discuss the gift with them. Each charity will have different preferences on how they would like to receive legacy payments, so it is best to speak with them directly about this.<\/h5>\n<\/li>\n
- \n
What details does the charity need?<\/h5>\n<\/li>\n<\/ul>\nIn your role as executor, the named charity would find it useful to be informed of the following:<\/h5>\n\n- \n
1. Details of the person who has passed away:<\/h5>\nFull name<\/h5>\nLast known address and any other recent addresses<\/h5>\nDate of Will<\/h5>\nDate of death<\/h5>\nWhether the deceased was a lifetime supporter of the charity (this<\/h5>\nwould enable them to put a stop to any future promotional mailings)<\/h5>\n2. Some beneficiaries are entitled to a copy of the Will. For example, if they receive a share of the residue of the estate (what is left after any specific gifts have been made), you should provide such beneficiaries with this and also a list of the late benefactor\u2019s assets and liabilities at the date of death.<\/h5>\n3. You should also provide them with reasonable updates about the estate administration. This will allow them to understand the nature and contents of the estate and approve any key steps which you take during the administration, for example agreeing the sale price of a property. Such consultation can avoid problems arising in the future.<\/h5>\n<\/li>\n<\/ul>\nHow is the tax calculated?<\/span><\/h5>\nUK registered charities are exempt from paying Inheritance Tax, Capital Gains Tax and Income Tax.<\/h5>\nIf the estate contains a mixture of charitable and non-chartable beneficiaries, you should check the percentage of Inheritance Tax payable. If 10% or more of the net estate is left to charitable beneficiaries, a lower amount of Inheritance Tax (36%) may be payable on the non-charitable parts of the estate. You can check whether or not this lower rate will apply at Gov.uk.<\/h5>\nWho can I contact for further guidance?<\/span><\/h5>\nIf you are acting as an executor, you can find a solicitor in your local area who will be able to help answer any further questions you have.<\/h5>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Useful organisations<\/span>\r\n <\/div>\r\n \r\n To find out more about making a Will and leaving a gift to charity, please take a look at the links below:<\/h5>\n\n- \n
Gov.uk<\/h5>\n<\/li>\n
- \n
Citizen\u2019s Advice<\/h5>\n<\/li>\n
- \n
Society of Trust and Estate Practitioners<\/h5>\n<\/li>\n
- \n
The Law Society<\/h5>\n<\/li>\n
- \n
The Law Society Scotland<\/h5>\n<\/li>\n
- \n
The Law Society of Northern Ireland<\/h5>\n<\/li>\n
- \n
Institute of Legacy Management<\/h5>\n<\/li>\n
- \n
Institute of Professional Willwriters<\/h5>\n<\/h5>\n<\/li>\n
- \n
Certainty National Will Register<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for England and Wales<\/h5>\n<\/h5>\n<\/li>\n
- \n
OSCR \u2013 Office of the Scottish Charity Regulator<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for Northern Ireland<\/h5>\n<\/h5>\n<\/li>\n
- \n
Co-op Legal Services<\/h5>\n<\/li>\n<\/ul>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Will writing jargon buster<\/span>\r\n <\/div>\r\n \r\n When it comes to Will writing, you might come across some terms that you haven\u2019t heard before. Here are the explanations for some of the most common terms used in Will writing.<\/h5>\nBeneficiary<\/strong><\/span><\/em>:\u00a0 A person, or an organisation, to whom you leave something in your Will.<\/h5>\nBequest<\/strong><\/em>:<\/span>\u00a0 A term for a gift that you leave to a person or organisation in your will. There are several different types of bequest, but the main ones are:<\/h5>\nResiduary bequest:<\/strong><\/em><\/span>\u00a0 A gift made of what is left of your estate after all other gifts have been handed out and debts paid off. To do this you may leave either the total of the residue or a percentage.<\/h5>\nPecuniary bequest<\/span>:<\/strong>\u00a0 <\/em>A gift made of a fixed sum of money. Unfortunately, the effect of inflation means that the value of a pecuniary gift will decrease over time.<\/h5>\nSpecific bequest<\/span>:<\/strong><\/em>\u00a0 A particular named item left as a gift in your Will. For example, a piece of jewellery, furniture or a painting.<\/h5>\nCodicil<\/span>:<\/strong>\u00a0 <\/em>A codicil is a document used to change a Will that has already been made. You can find more information about codicils in how to leave a gift to charity in your Will.<\/h5>\nEstate<\/span>:<\/strong><\/em>\u00a0 Your estate is the total sum of your personal possessions, property and money minus any liabilities.<\/h5>\nExecutor(s)<\/span>:<\/strong><\/em>\u00a0 The person or people that you appoint to ensure your final wishes are carried out. These can be professionals, friends, family members or institutions such as banks and some charities.<\/h5>\nGuardian<\/strong><\/em><\/span>:\u00a0 Someone who is responsible for children until they become 18.<\/h5>\nInheritance Tax<\/span>:<\/strong><\/em>\u00a0 This tax is paid on the portion of your estate that is above the nil-rate threshold.<\/h5>\nIntestate<\/strong><\/em><\/span>:\u00a0 The word used to describe someone who has died without a Will.<\/h5>\nLegacy<\/strong><\/em><\/span>:\u00a0 Another word for a gift or bequest left in your Will.<\/h5>\nProbate<\/strong><\/em><\/span>:\u00a0 When somebody dies leaving a Will, their executors will usually need to apply for a grant of probate. Once this is obtained, the executors can deal with the wishes expressed in the Will and distribute the gifts that have been left.<\/h5>\nResidue<\/strong><\/em><\/span>:\u00a0 This is what is left of your estate after any outstanding debts, taxes, pecuniary and specific bequests have been distributed to beneficiaries.<\/h5>\nTestator<\/strong><\/em><\/span>:\u00a0 The name given to a person who has made a Will.<\/h5>\nTrustee(s)<\/span>:<\/strong><\/em>\u00a0 One or more people who manage a trust.<\/h5>\n <\/div>\r\n <\/div>\r\n\r\n\r\n\r\n <\/div><\/p>","protected":false},"excerpt":{"rendered":"Miala tsiny fa tsy mbola misy amin’ny teny malagasy ity lahatsoratra ity. Your legacy can help build a future of hope in Madagascar A legacy to Money for Madagascar is a powerful expression of your commitment to building a brighter future for the people and wildlife of Madagascar. Deciding who to remember in your Will is a very personal decision.\u00a0 After considering the needs of your loved ones, if you feel able to leave a gift to charity, please consider leaving a legacy to Money for Madagascar. Your gift could help communities in Madagascar to overcome poverty and protect their… <\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-no-sidebar.php","meta":{"footnotes":""},"class_list":["post-216","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/comments?post=216"}],"version-history":[{"count":5,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions"}],"predecessor-version":[{"id":16899,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions\/16899"}],"wp:attachment":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/media?parent=216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
It may also be worth considering storing your Will with the Her Majesty\u2019s Court Service. When your Will is complete, you can also register it with a number of commercial organisations that operate Will registration schemes.<\/h5>\n
\r\n We understand that administering the estate of a loved one can be difficult, but it can also be rewarding. As an executor or personal representative (in cases where there is no Will), you are responsible for ensuring that someone\u2019s last wishes are fulfilled.<\/h5>\n
We understand that administering the estate of a loved one can be difficult, but it can also be rewarding. As an executor or personal representative (in cases where there is no Will), you are responsible for ensuring that someone\u2019s last wishes are fulfilled.<\/h5>\nIf you\u2019re an executor, we can answer some of your questions in order to help you understand your duties.<\/h5>\nWhat is my role?<\/span><\/h5>\nAs an executor, your responsibilities include:<\/h5>\n\n- \n
Ensuring that all the property owned by the deceased person is kept safe and secure, as soon as possible after their death.<\/h5>\n<\/li>\n
- \n
Ensuring that any property or items of value are adequately insured.<\/h5>\n<\/li>\n
- \n
Collecting and, if appropriate, convert (sell) any assets due to the deceased person\u2019s estate<\/h5>\n<\/li>\n
- \n
Paying any outstanding taxes and debts (out of the deceased person\u2019s estate)<\/h5>\n<\/li>\n
- \n
Distributing the estate to those who are entitled to it under either the terms of the Will or intestacy<\/h5>\n<\/li>\n
- \n
Delivering up your grant of probate if required to by a court.<\/h5>\n<\/li>\n
- \n
What should I do if a charity is mentioned in the Will?<\/h5>\n<\/li>\n
- \n
If there is a named charity beneficiary in a Will, you should contact their legacy team to discuss the gift with them. Each charity will have different preferences on how they would like to receive legacy payments, so it is best to speak with them directly about this.<\/h5>\n<\/li>\n
- \n
What details does the charity need?<\/h5>\n<\/li>\n<\/ul>\nIn your role as executor, the named charity would find it useful to be informed of the following:<\/h5>\n\n- \n
1. Details of the person who has passed away:<\/h5>\nFull name<\/h5>\nLast known address and any other recent addresses<\/h5>\nDate of Will<\/h5>\nDate of death<\/h5>\nWhether the deceased was a lifetime supporter of the charity (this<\/h5>\nwould enable them to put a stop to any future promotional mailings)<\/h5>\n2. Some beneficiaries are entitled to a copy of the Will. For example, if they receive a share of the residue of the estate (what is left after any specific gifts have been made), you should provide such beneficiaries with this and also a list of the late benefactor\u2019s assets and liabilities at the date of death.<\/h5>\n3. You should also provide them with reasonable updates about the estate administration. This will allow them to understand the nature and contents of the estate and approve any key steps which you take during the administration, for example agreeing the sale price of a property. Such consultation can avoid problems arising in the future.<\/h5>\n<\/li>\n<\/ul>\nHow is the tax calculated?<\/span><\/h5>\nUK registered charities are exempt from paying Inheritance Tax, Capital Gains Tax and Income Tax.<\/h5>\nIf the estate contains a mixture of charitable and non-chartable beneficiaries, you should check the percentage of Inheritance Tax payable. If 10% or more of the net estate is left to charitable beneficiaries, a lower amount of Inheritance Tax (36%) may be payable on the non-charitable parts of the estate. You can check whether or not this lower rate will apply at Gov.uk.<\/h5>\nWho can I contact for further guidance?<\/span><\/h5>\nIf you are acting as an executor, you can find a solicitor in your local area who will be able to help answer any further questions you have.<\/h5>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Useful organisations<\/span>\r\n <\/div>\r\n \r\n To find out more about making a Will and leaving a gift to charity, please take a look at the links below:<\/h5>\n\n- \n
Gov.uk<\/h5>\n<\/li>\n
- \n
Citizen\u2019s Advice<\/h5>\n<\/li>\n
- \n
Society of Trust and Estate Practitioners<\/h5>\n<\/li>\n
- \n
The Law Society<\/h5>\n<\/li>\n
- \n
The Law Society Scotland<\/h5>\n<\/li>\n
- \n
The Law Society of Northern Ireland<\/h5>\n<\/li>\n
- \n
Institute of Legacy Management<\/h5>\n<\/li>\n
- \n
Institute of Professional Willwriters<\/h5>\n<\/h5>\n<\/li>\n
- \n
Certainty National Will Register<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for England and Wales<\/h5>\n<\/h5>\n<\/li>\n
- \n
OSCR \u2013 Office of the Scottish Charity Regulator<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for Northern Ireland<\/h5>\n<\/h5>\n<\/li>\n
- \n
Co-op Legal Services<\/h5>\n<\/li>\n<\/ul>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Will writing jargon buster<\/span>\r\n <\/div>\r\n \r\n When it comes to Will writing, you might come across some terms that you haven\u2019t heard before. Here are the explanations for some of the most common terms used in Will writing.<\/h5>\nBeneficiary<\/strong><\/span><\/em>:\u00a0 A person, or an organisation, to whom you leave something in your Will.<\/h5>\nBequest<\/strong><\/em>:<\/span>\u00a0 A term for a gift that you leave to a person or organisation in your will. There are several different types of bequest, but the main ones are:<\/h5>\nResiduary bequest:<\/strong><\/em><\/span>\u00a0 A gift made of what is left of your estate after all other gifts have been handed out and debts paid off. To do this you may leave either the total of the residue or a percentage.<\/h5>\nPecuniary bequest<\/span>:<\/strong>\u00a0 <\/em>A gift made of a fixed sum of money. Unfortunately, the effect of inflation means that the value of a pecuniary gift will decrease over time.<\/h5>\nSpecific bequest<\/span>:<\/strong><\/em>\u00a0 A particular named item left as a gift in your Will. For example, a piece of jewellery, furniture or a painting.<\/h5>\nCodicil<\/span>:<\/strong>\u00a0 <\/em>A codicil is a document used to change a Will that has already been made. You can find more information about codicils in how to leave a gift to charity in your Will.<\/h5>\nEstate<\/span>:<\/strong><\/em>\u00a0 Your estate is the total sum of your personal possessions, property and money minus any liabilities.<\/h5>\nExecutor(s)<\/span>:<\/strong><\/em>\u00a0 The person or people that you appoint to ensure your final wishes are carried out. These can be professionals, friends, family members or institutions such as banks and some charities.<\/h5>\nGuardian<\/strong><\/em><\/span>:\u00a0 Someone who is responsible for children until they become 18.<\/h5>\nInheritance Tax<\/span>:<\/strong><\/em>\u00a0 This tax is paid on the portion of your estate that is above the nil-rate threshold.<\/h5>\nIntestate<\/strong><\/em><\/span>:\u00a0 The word used to describe someone who has died without a Will.<\/h5>\nLegacy<\/strong><\/em><\/span>:\u00a0 Another word for a gift or bequest left in your Will.<\/h5>\nProbate<\/strong><\/em><\/span>:\u00a0 When somebody dies leaving a Will, their executors will usually need to apply for a grant of probate. Once this is obtained, the executors can deal with the wishes expressed in the Will and distribute the gifts that have been left.<\/h5>\nResidue<\/strong><\/em><\/span>:\u00a0 This is what is left of your estate after any outstanding debts, taxes, pecuniary and specific bequests have been distributed to beneficiaries.<\/h5>\nTestator<\/strong><\/em><\/span>:\u00a0 The name given to a person who has made a Will.<\/h5>\nTrustee(s)<\/span>:<\/strong><\/em>\u00a0 One or more people who manage a trust.<\/h5>\n <\/div>\r\n <\/div>\r\n\r\n\r\n\r\n <\/div><\/p>","protected":false},"excerpt":{"rendered":"Miala tsiny fa tsy mbola misy amin’ny teny malagasy ity lahatsoratra ity. Your legacy can help build a future of hope in Madagascar A legacy to Money for Madagascar is a powerful expression of your commitment to building a brighter future for the people and wildlife of Madagascar. Deciding who to remember in your Will is a very personal decision.\u00a0 After considering the needs of your loved ones, if you feel able to leave a gift to charity, please consider leaving a legacy to Money for Madagascar. Your gift could help communities in Madagascar to overcome poverty and protect their… <\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-no-sidebar.php","meta":{"footnotes":""},"class_list":["post-216","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/comments?post=216"}],"version-history":[{"count":5,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions"}],"predecessor-version":[{"id":16899,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions\/16899"}],"wp:attachment":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/media?parent=216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
What is my role?<\/span><\/h5>\nAs an executor, your responsibilities include:<\/h5>\n\n- \n
Ensuring that all the property owned by the deceased person is kept safe and secure, as soon as possible after their death.<\/h5>\n<\/li>\n
- \n
Ensuring that any property or items of value are adequately insured.<\/h5>\n<\/li>\n
- \n
Collecting and, if appropriate, convert (sell) any assets due to the deceased person\u2019s estate<\/h5>\n<\/li>\n
- \n
Paying any outstanding taxes and debts (out of the deceased person\u2019s estate)<\/h5>\n<\/li>\n
- \n
Distributing the estate to those who are entitled to it under either the terms of the Will or intestacy<\/h5>\n<\/li>\n
- \n
Delivering up your grant of probate if required to by a court.<\/h5>\n<\/li>\n
- \n
What should I do if a charity is mentioned in the Will?<\/h5>\n<\/li>\n
- \n
If there is a named charity beneficiary in a Will, you should contact their legacy team to discuss the gift with them. Each charity will have different preferences on how they would like to receive legacy payments, so it is best to speak with them directly about this.<\/h5>\n<\/li>\n
- \n
What details does the charity need?<\/h5>\n<\/li>\n<\/ul>\nIn your role as executor, the named charity would find it useful to be informed of the following:<\/h5>\n\n- \n
1. Details of the person who has passed away:<\/h5>\nFull name<\/h5>\nLast known address and any other recent addresses<\/h5>\nDate of Will<\/h5>\nDate of death<\/h5>\nWhether the deceased was a lifetime supporter of the charity (this<\/h5>\nwould enable them to put a stop to any future promotional mailings)<\/h5>\n2. Some beneficiaries are entitled to a copy of the Will. For example, if they receive a share of the residue of the estate (what is left after any specific gifts have been made), you should provide such beneficiaries with this and also a list of the late benefactor\u2019s assets and liabilities at the date of death.<\/h5>\n3. You should also provide them with reasonable updates about the estate administration. This will allow them to understand the nature and contents of the estate and approve any key steps which you take during the administration, for example agreeing the sale price of a property. Such consultation can avoid problems arising in the future.<\/h5>\n<\/li>\n<\/ul>\nHow is the tax calculated?<\/span><\/h5>\nUK registered charities are exempt from paying Inheritance Tax, Capital Gains Tax and Income Tax.<\/h5>\nIf the estate contains a mixture of charitable and non-chartable beneficiaries, you should check the percentage of Inheritance Tax payable. If 10% or more of the net estate is left to charitable beneficiaries, a lower amount of Inheritance Tax (36%) may be payable on the non-charitable parts of the estate. You can check whether or not this lower rate will apply at Gov.uk.<\/h5>\nWho can I contact for further guidance?<\/span><\/h5>\nIf you are acting as an executor, you can find a solicitor in your local area who will be able to help answer any further questions you have.<\/h5>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Useful organisations<\/span>\r\n <\/div>\r\n \r\n To find out more about making a Will and leaving a gift to charity, please take a look at the links below:<\/h5>\n\n- \n
Gov.uk<\/h5>\n<\/li>\n
- \n
Citizen\u2019s Advice<\/h5>\n<\/li>\n
- \n
Society of Trust and Estate Practitioners<\/h5>\n<\/li>\n
- \n
The Law Society<\/h5>\n<\/li>\n
- \n
The Law Society Scotland<\/h5>\n<\/li>\n
- \n
The Law Society of Northern Ireland<\/h5>\n<\/li>\n
- \n
Institute of Legacy Management<\/h5>\n<\/li>\n
- \n
Institute of Professional Willwriters<\/h5>\n<\/h5>\n<\/li>\n
- \n
Certainty National Will Register<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for England and Wales<\/h5>\n<\/h5>\n<\/li>\n
- \n
OSCR \u2013 Office of the Scottish Charity Regulator<\/h5>\n<\/h5>\n<\/li>\n
- \n
The Charity Commission for Northern Ireland<\/h5>\n<\/h5>\n<\/li>\n
- \n
Co-op Legal Services<\/h5>\n<\/li>\n<\/ul>\n <\/div>\r\n \r\n \r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Will writing jargon buster<\/span>\r\n <\/div>\r\n \r\n When it comes to Will writing, you might come across some terms that you haven\u2019t heard before. Here are the explanations for some of the most common terms used in Will writing.<\/h5>\nBeneficiary<\/strong><\/span><\/em>:\u00a0 A person, or an organisation, to whom you leave something in your Will.<\/h5>\nBequest<\/strong><\/em>:<\/span>\u00a0 A term for a gift that you leave to a person or organisation in your will. There are several different types of bequest, but the main ones are:<\/h5>\nResiduary bequest:<\/strong><\/em><\/span>\u00a0 A gift made of what is left of your estate after all other gifts have been handed out and debts paid off. To do this you may leave either the total of the residue or a percentage.<\/h5>\nPecuniary bequest<\/span>:<\/strong>\u00a0 <\/em>A gift made of a fixed sum of money. Unfortunately, the effect of inflation means that the value of a pecuniary gift will decrease over time.<\/h5>\nSpecific bequest<\/span>:<\/strong><\/em>\u00a0 A particular named item left as a gift in your Will. For example, a piece of jewellery, furniture or a painting.<\/h5>\nCodicil<\/span>:<\/strong>\u00a0 <\/em>A codicil is a document used to change a Will that has already been made. You can find more information about codicils in how to leave a gift to charity in your Will.<\/h5>\nEstate<\/span>:<\/strong><\/em>\u00a0 Your estate is the total sum of your personal possessions, property and money minus any liabilities.<\/h5>\nExecutor(s)<\/span>:<\/strong><\/em>\u00a0 The person or people that you appoint to ensure your final wishes are carried out. These can be professionals, friends, family members or institutions such as banks and some charities.<\/h5>\nGuardian<\/strong><\/em><\/span>:\u00a0 Someone who is responsible for children until they become 18.<\/h5>\nInheritance Tax<\/span>:<\/strong><\/em>\u00a0 This tax is paid on the portion of your estate that is above the nil-rate threshold.<\/h5>\nIntestate<\/strong><\/em><\/span>:\u00a0 The word used to describe someone who has died without a Will.<\/h5>\nLegacy<\/strong><\/em><\/span>:\u00a0 Another word for a gift or bequest left in your Will.<\/h5>\nProbate<\/strong><\/em><\/span>:\u00a0 When somebody dies leaving a Will, their executors will usually need to apply for a grant of probate. Once this is obtained, the executors can deal with the wishes expressed in the Will and distribute the gifts that have been left.<\/h5>\nResidue<\/strong><\/em><\/span>:\u00a0 This is what is left of your estate after any outstanding debts, taxes, pecuniary and specific bequests have been distributed to beneficiaries.<\/h5>\nTestator<\/strong><\/em><\/span>:\u00a0 The name given to a person who has made a Will.<\/h5>\nTrustee(s)<\/span>:<\/strong><\/em>\u00a0 One or more people who manage a trust.<\/h5>\n <\/div>\r\n <\/div>\r\n\r\n\r\n\r\n <\/div><\/p>","protected":false},"excerpt":{"rendered":"Miala tsiny fa tsy mbola misy amin’ny teny malagasy ity lahatsoratra ity. Your legacy can help build a future of hope in Madagascar A legacy to Money for Madagascar is a powerful expression of your commitment to building a brighter future for the people and wildlife of Madagascar. Deciding who to remember in your Will is a very personal decision.\u00a0 After considering the needs of your loved ones, if you feel able to leave a gift to charity, please consider leaving a legacy to Money for Madagascar. Your gift could help communities in Madagascar to overcome poverty and protect their… <\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-no-sidebar.php","meta":{"footnotes":""},"class_list":["post-216","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/comments?post=216"}],"version-history":[{"count":5,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions"}],"predecessor-version":[{"id":16899,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions\/16899"}],"wp:attachment":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/media?parent=216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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Ensuring that all the property owned by the deceased person is kept safe and secure, as soon as possible after their death.<\/h5>\n<\/li>\n
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Ensuring that any property or items of value are adequately insured.<\/h5>\n<\/li>\n
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Collecting and, if appropriate, convert (sell) any assets due to the deceased person\u2019s estate<\/h5>\n<\/li>\n
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Paying any outstanding taxes and debts (out of the deceased person\u2019s estate)<\/h5>\n<\/li>\n
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Distributing the estate to those who are entitled to it under either the terms of the Will or intestacy<\/h5>\n<\/li>\n
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Delivering up your grant of probate if required to by a court.<\/h5>\n<\/li>\n
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What should I do if a charity is mentioned in the Will?<\/h5>\n<\/li>\n
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If there is a named charity beneficiary in a Will, you should contact their legacy team to discuss the gift with them. Each charity will have different preferences on how they would like to receive legacy payments, so it is best to speak with them directly about this.<\/h5>\n<\/li>\n
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What details does the charity need?<\/h5>\n<\/li>\n<\/ul>\n
In your role as executor, the named charity would find it useful to be informed of the following:<\/h5>\n
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1. Details of the person who has passed away:<\/h5>\n
Full name<\/h5>\n
Last known address and any other recent addresses<\/h5>\n
Date of Will<\/h5>\n
Date of death<\/h5>\n
Whether the deceased was a lifetime supporter of the charity (this<\/h5>\n
would enable them to put a stop to any future promotional mailings)<\/h5>\n
2. Some beneficiaries are entitled to a copy of the Will. For example, if they receive a share of the residue of the estate (what is left after any specific gifts have been made), you should provide such beneficiaries with this and also a list of the late benefactor\u2019s assets and liabilities at the date of death.<\/h5>\n
3. You should also provide them with reasonable updates about the estate administration. This will allow them to understand the nature and contents of the estate and approve any key steps which you take during the administration, for example agreeing the sale price of a property. Such consultation can avoid problems arising in the future.<\/h5>\n<\/li>\n<\/ul>\n
How is the tax calculated?<\/span><\/h5>\n
UK registered charities are exempt from paying Inheritance Tax, Capital Gains Tax and Income Tax.<\/h5>\n
If the estate contains a mixture of charitable and non-chartable beneficiaries, you should check the percentage of Inheritance Tax payable. If 10% or more of the net estate is left to charitable beneficiaries, a lower amount of Inheritance Tax (36%) may be payable on the non-charitable parts of the estate. You can check whether or not this lower rate will apply at Gov.uk.<\/h5>\n
Who can I contact for further guidance?<\/span><\/h5>\n
If you are acting as an executor, you can find a solicitor in your local area who will be able to help answer any further questions you have.<\/h5>\n <\/div>\r\n \r\n
\r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Useful organisations<\/span>\r\n <\/div>\r\n\r\nTo find out more about making a Will and leaving a gift to charity, please take a look at the links below:<\/h5>\n
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Gov.uk<\/h5>\n<\/li>\n
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Citizen\u2019s Advice<\/h5>\n<\/li>\n
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Society of Trust and Estate Practitioners<\/h5>\n<\/li>\n
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The Law Society<\/h5>\n<\/li>\n
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The Law Society Scotland<\/h5>\n<\/li>\n
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The Law Society of Northern Ireland<\/h5>\n<\/li>\n
- \n
Institute of Legacy Management<\/h5>\n<\/li>\n
- \n
Institute of Professional Willwriters<\/h5>\n
<\/h5>\n<\/li>\n
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Certainty National Will Register<\/h5>\n
<\/h5>\n<\/li>\n
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The Charity Commission for England and Wales<\/h5>\n
<\/h5>\n<\/li>\n
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OSCR \u2013 Office of the Scottish Charity Regulator<\/h5>\n
<\/h5>\n<\/li>\n
- \n
The Charity Commission for Northern Ireland<\/h5>\n
<\/h5>\n<\/li>\n
- \n
Co-op Legal Services<\/h5>\n<\/li>\n<\/ul>\n <\/div>\r\n \r\n
\r\n \r\n <\/i><\/span>\r\n <\/i><\/span>\r\n <\/span>\r\n Will writing jargon buster<\/span>\r\n <\/div>\r\n\r\nWhen it comes to Will writing, you might come across some terms that you haven\u2019t heard before. Here are the explanations for some of the most common terms used in Will writing.<\/h5>\n
Beneficiary<\/strong><\/span><\/em>:\u00a0 A person, or an organisation, to whom you leave something in your Will.<\/h5>\n
Bequest<\/strong><\/em>:<\/span>\u00a0 A term for a gift that you leave to a person or organisation in your will. There are several different types of bequest, but the main ones are:<\/h5>\n
Residuary bequest:<\/strong><\/em><\/span>\u00a0 A gift made of what is left of your estate after all other gifts have been handed out and debts paid off. To do this you may leave either the total of the residue or a percentage.<\/h5>\n
Pecuniary bequest<\/span>:<\/strong>\u00a0 <\/em>A gift made of a fixed sum of money. Unfortunately, the effect of inflation means that the value of a pecuniary gift will decrease over time.<\/h5>\n
Specific bequest<\/span>:<\/strong><\/em>\u00a0 A particular named item left as a gift in your Will. For example, a piece of jewellery, furniture or a painting.<\/h5>\n
Codicil<\/span>:<\/strong>\u00a0 <\/em>A codicil is a document used to change a Will that has already been made. You can find more information about codicils in how to leave a gift to charity in your Will.<\/h5>\n
Estate<\/span>:<\/strong><\/em>\u00a0 Your estate is the total sum of your personal possessions, property and money minus any liabilities.<\/h5>\n
Executor(s)<\/span>:<\/strong><\/em>\u00a0 The person or people that you appoint to ensure your final wishes are carried out. These can be professionals, friends, family members or institutions such as banks and some charities.<\/h5>\n
Guardian<\/strong><\/em><\/span>:\u00a0 Someone who is responsible for children until they become 18.<\/h5>\n
Inheritance Tax<\/span>:<\/strong><\/em>\u00a0 This tax is paid on the portion of your estate that is above the nil-rate threshold.<\/h5>\n
Intestate<\/strong><\/em><\/span>:\u00a0 The word used to describe someone who has died without a Will.<\/h5>\n
Legacy<\/strong><\/em><\/span>:\u00a0 Another word for a gift or bequest left in your Will.<\/h5>\n
Probate<\/strong><\/em><\/span>:\u00a0 When somebody dies leaving a Will, their executors will usually need to apply for a grant of probate. Once this is obtained, the executors can deal with the wishes expressed in the Will and distribute the gifts that have been left.<\/h5>\n
Residue<\/strong><\/em><\/span>:\u00a0 This is what is left of your estate after any outstanding debts, taxes, pecuniary and specific bequests have been distributed to beneficiaries.<\/h5>\n
Testator<\/strong><\/em><\/span>:\u00a0 The name given to a person who has made a Will.<\/h5>\n
Trustee(s)<\/span>:<\/strong><\/em>\u00a0 One or more people who manage a trust.<\/h5>\n <\/div>\r\n <\/div>\r\n\r\n\r\n\r\n <\/div><\/p>","protected":false},"excerpt":{"rendered":"
Miala tsiny fa tsy mbola misy amin’ny teny malagasy ity lahatsoratra ity. Your legacy can help build a future of hope in Madagascar A legacy to Money for Madagascar is a powerful expression of your commitment to building a brighter future for the people and wildlife of Madagascar. Deciding who to remember in your Will is a very personal decision.\u00a0 After considering the needs of your loved ones, if you feel able to leave a gift to charity, please consider leaving a legacy to Money for Madagascar. Your gift could help communities in Madagascar to overcome poverty and protect their… <\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-no-sidebar.php","meta":{"footnotes":""},"class_list":["post-216","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/comments?post=216"}],"version-history":[{"count":5,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions"}],"predecessor-version":[{"id":16899,"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/pages\/216\/revisions\/16899"}],"wp:attachment":[{"href":"https:\/\/moneyformadagascar.org\/mg\/wp-json\/wp\/v2\/media?parent=216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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