Some people assume, quite wrongly, that when they die, everything will automatically pass to their husband or wife. Unfortunately, this is not the case. It could mean that your estate is divided up among your family, leaving your spouse short of money. If you don’t have any close relations and you do not have a Will, everything that you owned could go straight to the government without taking your wishes into account.

Including APEC in your Will also has favourable implications in reducing the tax payable on your estate at your death. At the moment, if your estate is valued at over £242,000, anything over that amount will be liable to inheritance tax at 40%. With the increase in house prices in recent years and more people owning stocks and shares, it is increasingly likely that people have estates worth more than the inheritance tax threshold. However, if you decided to leave a legacy to APEC, this gift is removed before the estate is calculated for tax as the legacy itself is exempt from inheritance tax.

For example, if you left a 10% residuary legacy on an estate worth £300,000 to APEC (i.e. £30,000) this would be removed first, leaving tax to be paid on the remainder of the estate above the tax threshold (i.e. £300,000 - £30,000 = £270,000: 40% tax is paid on £28,000 = £11,200).

Updating your Will
It is most important that if you already have a Will, that it is up to date and in a safe place. Reasons for changing your Will might include changes in circumstances – a marriage, divorce, birth or death in the family. If minor amendments need to be made, your solicitor can simply insert a “codicil” – this is a simple declaration that adds a new instruction to your existing Will e.g. when you wish to leave a bequest to a charity or a new family member. If significant changes are being made, it may be best to start again with a new Will. Your solicitor can help you with this.

How to make or change your Will

1. Find a solicitor
As a Will is a legal document, it is always best to use a solicitor to make sure that it is prepared correctly. You could use the solicitor that you used when you bought your home. Alternatively, most banks and some accountants can help. If you don’t know anyone with the necessary professional qualifications, ask at your local Citizen’s Advice Bureau. Don’t be tempted to “do it yourself”!

2. Find out how much it costs to draw up your Will in advance
A simple Will can cost as little as £50. Ask for quotes from different solicitors to get the best price.

3. Be prepared before you see your adviser
Make sure that you have made lists of everything that you want included in your Will. This will save you time and money.

Make a list of all your assets – house, car, personal possessions, insurance policies, savings, pension plans etc. Don’t forget lists of your liabilities as well e.g. your mortgage and any debts.
Make a list of all the people that you want to benefit from your Will, including their full names and addresses. If you are considering leaving money to a charity, make sure that you have a note of their full name and address and registered charity number.
Decide who you want as your executors. These will be the people that carry out your wishes contained in your Will. It is always best to appoint two people in case one is unable to carry out the responsibility when they are needed. People often choose members of their family as it is possible to be both an executor and a beneficiary. Sometimes a solicitor is chosen, but they will charge an administration fee.
If you wish to leave a gift to APEC, the wording that we suggest that you use in your Will is as follows:

“I give (description of legacy) to APEC, of 84-88 Pinner Road, Harrow, Middx. HA1 4HZ, registered charity number 1013557 for its general charity purposes and I direct that the receipt of the duly authorised officer shall be a valid and appropriate form of discharge to my executors.”

What types of legacies are there?
There are 3 main types of legacy that can be included in your Will:

A residuary legacy. This is a percentage of what is left of your estate after all the expenses, debts and other gifts have been taken out. e.g. 10%. This is particularly valuable to APEC because the growing value of your assets protects it against inflation.
A pecuniary legacy. This is a set sum of money e.g. £10,000. Please bear in mind that if you make this type of gift, your Will may need to be altered periodically to keep up with inflation.
A specific gift e.g. a painting, jewellery, a house which can be sold to raise money for APEC.

4. Making your Will legally binding
Your Will must be signed in the presence of 2 witnesses who will then have to sign it themselves. Neither of these witnesses must be beneficiaries.

5. Keeping your Will safe
Make sure that your family know that you have a Will and where it is kept. It is a good idea to entrust it to your solicitor or bank manager so it doesn’t get lost.

Your legacy will enable us to build on the knowledge and support that we have been providing to families since 1991. It will allow us to expand our activities such as the helpline and further research into the causes of pre-eclampsia and appropriate screening and treatment methods. Whatever the amount that you are able to give will be used in assisting the thousands of families each year affected by this most common of serious pregnancy conditions.