10 Myths About Leaving A Gift In Your Will
Most of us leave a will to make sure our families and loved ones have what they need when we’re gone. But some people use their will to provide for children they’ve never even met. Leaving a gift to charity isn’t just for the rich and famous either. We thought we’d bust this and a few other myths about leaving a legacy…
1. Only the rich and famous leave money to charity when they die.
This couldn’t be any further from the truth. The reality is without the gifts left in wills by people like you, many of the charities we know and support today wouldn’t even exist. Charitable legacies are the foundation for many good causes in the UK and are vital in continuing their work.
2. Gifts in wills don’t make much of a difference to charities.
Many of us will be touched at some point in our lives by the remarkable work charities do, but without gifts left in wills, a lot of this simply would not happen. UK charities rely heavily on gifts in wills: two out of three guide dogs and six out of 10 life boat launches are paid for by gifts in wills. At UNICEF we believe that every child has a right to clean water, nutritious food, healthcare, education and a safe environment to grow up in. Your legacy will support our ongoing work to achieve this.
3. I can’t leave a legacy gift to UNICEF because it is part of the UN.
UNICEF is a registered charity (registered charity no. 1072612), founded in 1946 to help children left in extreme poverty after the Second World War. It was and still is the world’s leading organisation working for children and their rights. We are not funded by the UN and rely on voluntary donations like legacies to continue our life-saving work.
4. Leaving a legacy isn't as good for UNICEF as just donating.
Legacies give us the financial resources required to cope with the things for which we cannot plan. Like conflicts, natural disasters and other emergencies – any situation in which children’s lives are in danger. Because we get no funding from the United Nations, we are reliant on voluntary donations like legacies.
5. I can only give a lump sum to charity in my Will.
There are a few different types of legacy gift that you can make when leaving money to charity in your will. A pecuniary gift allows you to leave a specific amount of money to UNICEF. A residuary gift allows you to leave UNICEF a share of your estate once family and friends have been taken care of. Around 85 per cent of our legacy income comes from gifts made in this way. A reversionary gift allows you to leave your estate to your dependants while they are living, but after they pass away it will revert to UNICEF.
6. I have to rewrite my whole will if I decide to leave a gift to UNICEF.
Your solicitor can add a codicil to your will that lists all changes you wish to make to your original will. We’ve got a straightforward codicil form that you can download and use.
7. Most of my legacy gift will be spent on administration.
The last thing you want is for the money you entrust to us to be eaten up by administration costs. We spend just 2p in every £1 on administration.
8. My legacy gift won't be used for ages.
This is definitely not the case. Your legacy gift can be used straight away to help children around the world. In October 2006, we received a substantial legacy gift. Two days later, the Pakistan earthquake happened. This gift was put to work right away, providing clean water that helped save many children's lives.
9. I won't be helping my loved ones.
You can leave a legacy to UNICEF after providing for your friends and family and your legacy will live on. Leaving a legacy to UNICEF is a wonderful way for you to carry on supporting a cause that matters to you long after your lifetime.
We believe that every child has a right to clean water, nutritious food, healthcare, education and a safe environment to grow up in. Your legacy will support our ongoing work to achieve this. Your donation will help fund charity projects which may take many years to complete – but will save countless lives. Find out more about leaving a legacy to UNICEF or email us with your questions.