A gift in your will

A gift in your Will helps ensure that the next generation of makers have access to the craft skills that have developed up over many generations, many of which are in danger of being lost forever.

After you have provided for your loved ones, please do consider how leaving a gift to Heritage Crafts might help us fulfil our vision of a society in which heritage craft skills are acknowledged as being of vital importance, and are nurtured and celebrated accordingly.

We were founded in 2010 and have been growing steadily ever since, but there is always so much more that we wish to do and applying for funding from Trusts and Foundations is becoming more competitive. Your legacy could play an important part in the future we want to create.

How to leave a gift in your Will

Using a solicitor to make or update your Will ensures that your wishes are carried out after you’re gone. You may have a solicitor already, or you can ask family or friends for a recommendation. You may wish to use one of the many online Will writing services that can assist you. The Law Society also has a Wills and Inheritance Quality Scheme to help you find a solicitor specialising in Will writing.

• If you live in England or Wales: www.lawsociety.org.uk/en or call 020 7242 1222
• If you live in Northern Ireland: www.lawsoc-ni.org or call 028 9023 1614
• If you live in Scotland: www.lawscot.org.uk or call 0131 226 7411

If you would like to leave a gift to Heritage Crafts there are two main types of gifts:

• A residuary gift – is made from whatever is left over after all other gifts of money or specific items have been made. You can leave a share or percentage of the residue to Heritage Crafts. The great thing about a residuary gift is that you don’t need to worry about whether your estate will be able to afford it. This is because if your assets decrease a lot in your lifetime, a the value of teh gift will also decrease in proportion. A residuary gift allows for your loved ones to be look after first, and then a percentage of what remains can be left to charity.
• A pecuniary gift – is a fixed sum of money. It’s worth remembering that its value can be eroded by inflation over time

Our suggested wording if you would like to include a residuary gift to Heritage Crafts in your Will:

“I give to the Heritage Crafts Association (Registered Charity Number 1159208) of 81 North Street, Wellington, Somerset TA21 8NA the whole /  [insert share as a %] share of my residuary estate absolutely to be used for its general charitable purposes and I declare that the receipt of the Heritage Crafts Association’s Treasurer or other duly authorised officer shall be sufficient discharge of my executor[’s][s’] duty.”

… or a pecuniary gift:

“I give to the Heritage Crafts Association (Registered Charity Number 1159208) of 81 North Street, Wellington, Somerset TA21 8NA the sum of £……………….. [insert amount in figures] absolutely to be used for its general charitable purposes and I declare that the receipt of the Heritage Crafts Association’s Treasurer or other duly authorised officer shall be sufficient discharge of my executor[’s][s’] duty.”

Did you know that charitable gifts in your Will are free of UK inheritance tax? Moreover, such gifts are deducted before inheritance tax is calculated, so can help bring down the amount of inheritance tax payable on the rest of your estate? Your solicitor, financial adviser or accountant can help you with inheritance tax planning.