How leaving a gift in your will could help
After you’ve considered your family and friends, your Will is a way to continue to support a cause close to your heart. Leaving a gift in your Will to Racing Welfare will help to build a lasting legacy of support for racing’s workforce.
Racing Welfare is the only charity to support the entirety of the British Horseracing and Breeding Industry. We offer professional guidance and practical help to the stud, stable and racecourse staff whose dedication is vital for the well-being of racing. Gifts in Wills allow us to reach the people who need us, ensuring that everyone from the horseracing and breeding industry and community feels supported and has the opportunity to thrive.
How to remember Racing Welfare in my Will
There are 3 different types of gift you can leave in your Will
A residuary gift
This is a share of your total estate (everything you own that is of value) after all other payments (such as lifetime debts, tax and administrative expense) have been deducted. Because a residuary legacy is a percentage of your estate, it will keep its value over time.
A pecuniary gift
A pecuniary gift is a fixed amount of money that you leave in your Will. It is a good idea to review pecuniary gifts regularly, as their face value can be lessened by inflation and turn out to be less powerful than you intend.
A specific gift
A specific gift is when you leave a particular item of value – such as personal possessions, property or shares.
Wording for your Will
If you would like to leave a gift to Racing Welfare in your Will, then you may want to give the following wording* to your solicitor:
- Pecuniary Gift- I give the sum of £ ______ to Racing Welfare (Registered Charity No. 1084042) and I direct that the receipt of the treasurer or other proper office shall be a full and sufficient discharge to my executors.
- Specific Gift- I give to Racing Welfare (Registered Charity No. 1084042) (write in whatever it is you wish to leave Racing Welfare) and I direct that the receipt of the treasurer or other proper officer shall be a full and sufficient discharge to my executors.
- A Gift of Residue- I give to Racing Welfare (Registered Charity No. 1084042) (write ‘all’ or the share you would like to leave to Racing Welfare) and I direct that the receipt of the treasurer or other proper officer shall be a full and sufficient discharge to my executors.
*These are only guidelines; please seek professional advice from your solicitor/professional Will Writer when writing your Will.
Reduce the amount of Inheritance tax you pay
In some cases, remembering a charity such as Racing Welfare in your Will can help you to reduce the amount of inheritance tax that needs to be paid from your estate. This is because gifts to charities are 100% tax free and are taken out of your estate before any tax is calculated. Contact your solicitor for further information about this.
Keep in touch
Your Will is a personal matter but if you have left a gift to Racing Welfare, we would love to know so that we can say thank you and keep you updated about our work.
If you would like to leave a gift in your will to Racing Welfare, you will need our address and registered charity number. These details must be written in your will:
20b Park Lane
Registered Charity Number: 1084042 (UK) SC048413 (Scotland)
Remember a Charity: General advice about making a Will
Making a Will: Governments Guide to making a Will
Citizens Advice: Advice on creating a Will and why it is important
If you have any further queries, please contact our Fundraising Executive, Jen Gates by either:
Email: firstname.lastname@example.org or by Telephone: 01638560763