A GUIDE TO MAKING AND
UPDATING YOUR Will
Our short guide to writing and updating your
Will takes you through some of the things you
need to consider when thinking about and
preparing this very important document.
Why do I need a Will?
Did you know that more than half of people in the UK don’t
have a Will? And half of those who do have never updated it.
If you die without a valid Will your estate is said to be ‘intestate’.
This happens when you don’t have a Will, have cancelled it,
or because your Will is invalid, for example if it is incorrectly
witnessed or unsigned. Having a professionally written
up-to-date Will is the best way to ensure that the people
and causes you love are looked after.
I already have a Will.
Do I need to update it?
It is a good idea to review your Will to make
sure that the details and clauses still reflect
your wishes, especially if there has been a
change in your personal circumstances.
These changes could include:
• marriage, divorce or separation
• a new arrival or death in your family
• moving home or moving abroad
• a change in your financial circumstances
Another
important
way of
looking
after future
generations
I’m creating
tomorrows
in my Will.
What
will your
legacy be?
So many of us know what cancer means, because we
have been through it – either ourselves or with someone we
love. But the good news is we can change things. Research
is revealing the genetics of cancer. And although it is early
days, the discoveries we have made are being used to identify
people at high risk of cancer, detect the disease earlier and
design more tailored treatments. A gift in your Will to Cancer
Research UK would help to bring forward the day when
all cancers are cured, and is another way of looking
after future generations.
cruk.org/legacies
Who should write my Will?
There are a number of options when it comes to making your Will, but we always
recommend consulting a professional. A professional will ensure that all the legal
formalities are correctly followed and that your Will is valid. Here are some options:
1. Using a solicitor
The cost of using a solicitor varies depending on
how complicated your Will is and which part of
the country you live in. The solicitor should make
it clear from the start how much they will charge.
The Law Society can help you find a solicitor in
your area. For more information please call
020 7242 1222 or visit www.lawsociety.org.uk.
All calls from UK landlines are charged at national
call rates. If you are over 55 you could consider
using the Cancer Research UK Free Will Service
to make your Will. For more information please
visit cruk.org/FreeWill or call 0300 123 1862
for a list of participating solicitors in your area.
A gift in your Will
to support our work
would be a life-saving
legacy, helping more
people to survive
cancer in the future.
2. Using a Will Writer
Professional Will writers are another option, but
they are currently less regulated than solicitors;
it’s important to check that they belong to
a professional body such as the Institute of
Professional Will Writers. For more information
on the Institute of Professional Will Writers
or to find a Will writer in your area please
visit www.ipw.org.uk.
3. Using a bank
Many high street banks now offer Will
writing services. Your local branch will
be able to provide you with information
about the services that they offer.
4. Using a DIY Will kit
This may seem like a cost-effective option
but it’s very easy to make technical mistakes.
These mistakes could invalidate your Will or
lead to costly disputes in the future. The money
that you save now, by not paying a professional
to write your Will, can easily be outweighed by
the cost and upset that mistakes may cause after
you have died. Remember that you should never
write on your Will, cross out names or figures,
or attach anything to it – in some cases this
could invalidate it.
How do I choose my Executors?
Your executors are the people named in your Will who will carry
out your wishes. It is a good idea to choose and name at least two
people to do this job – in case one is unable to act for you. You can
choose friends, family members, your bank or a solicitor to act as
your executors. Naming someone as an executor doesn’t stop them
benefitting in your Will. Please call our Legacy Information Team
on 0300 123 1862 for further information.
cruk.org/legacies
I don’t think I have anything
to leave. How do I work out
my assets?
This is a common misconception but if
you take time to think about everything
that you own you may find it is more than
you thought. In legal terms, these are
your assets.
The sum total of your assets is known as
your estate. Before the gifts in your Will are
distributed, any outstanding debts will be
paid from your estate first so make sure you
include them when you work out your assets.
This will give you a better picture of what
your final estate will look like. You can use
our handy Will planner on page 5 to work
out the value of your estate.
Plan who you
will remember
When writing a Will it is important to take
your time and think about who you would
like to remember: your family, friends,
charities and causes.
Where can I store my Will?
Your solicitor or Will writer may offer to keep your
Will as part of their service. Make sure that you keep
a copy yourself in a safe place, together with the
information about your property, your accounts
and policies that your executors will need.
What about Inheritance Tax?
Inheritance Tax is currently charged at 40% if
your estate is over a certain value. The threshold
for Inheritance Tax can change so you’ll need to
keep up-to-date with these changes to prevent
your loved ones paying more Inheritance Tax than
necessary. In the terms of a Will, there are a number
of gifts which can help to minimise the Inheritance
Tax liability on your estate. These include gifts
between spouses and gifts to charities. Information
on Inheritance Tax can be found on the HMRC
website: www.hmrc.gov.uk/inheritancetax.
From April 2012, the government introduced a
change to Inheritance Tax legislation meaning
in some situations, anyone leaving 10% or more
of their taxable estate to charity will qualify for
a reduced rate of Inheritance Tax. For more
information visit www.legacy10.com. If you
think that your estate is going to be subject
to Inheritance Tax please discuss this with
your solicitor.
Every day our scientists are making new
discoveries – they’ve contributed to most
of the world’s top cancer drugs. Gifts in
Wills generously left to us are essential
to this progress; they fund over a third
of our work, leading the world in
discovering new ways to fight cancer.
We know that family and friends
will always come first but by
remembering us in your Will too,
you can help us save millions of
lives through pioneering
life-saving research.
“I see the charity as a very good
‘home’ for my money. I was the
lucky recipient of a so called
‘wonder drug’ and I do want
Cancer Research UK to keep
producing successful treatments
in the future for others.”
Diana, Cheshire
Cancer Research UK Legacy Pledger
cruk.org/legacies
How would you
use the gift?
Recommended wording if you wish to leave
a gift in your Will to Cancer Research UK
A gift in your Will can help us fight over 200
cancers – including the one that matters most to
you. We promise to spend your gift wisely and
ensure at least 80% of the donation is spent on
preventing, controlling and curing all cancers.
We pioneer life-saving research to bring
forward the day when all cancers are cured.
We don’t receive government funding for
our research, so every step towards beating
cancer relies on every pound donated. Gifts in
Wills generously left to us are essential to this
progress; they fund over a third of our work
leading the world in discovering new ways to
fight cancer.
For you, because of you, thanks to you - we
are able to fund over half of the UK’s cancer
research, including the life-saving
work of over 4,000 scientists, doctors and
nurses fighting cancer on all fronts.
Your support will mean we can keep forging
ahead to create more tomorrows for people
with cancer and their families.
What kind of gifts
can I give?
When writing your Will of course your loved ones will come
first. Leaving a share of your estate to Cancer Research UK is an
easy way to remember the causes that are important to you after
friends and family have been looked after. Although it is another
way to look after the people you love - you will also be helping
to fund pioneering research that will bring forward the day when
all cancers are cured. Research saves lives and is the solution to
beating cancer. We want to create a future where no one dies from
this disease or fears it.
If you do decide to leave a gift, it’s essential to include our full
name to make sure that your gift reaches us. Please find below
some suggested wording for the different types of legacy gifts
you might want to consider:
1. Residuary bequest (a share of your estate)
I give (%) of the residue of my real and personal estate to Cancer
Research UK (Registered Charity Nos. 1089464, SC041666 and
1103) of Angel Building, 407 St John Street, London EC1V 4AD
and the receipt of the Honorary Treasurer or the proper officer
for the time being of Cancer Research UK shall be a complete
discharge to my executors.
2. Pecuniary bequest (a set sum)
I give the sum of [...] pounds to Cancer Research UK (Registered
Charity Nos. 1089464, SC041666 and 1103) of Angel Building,
407 St John Street, London EC1V 4AD and the receipt of the
Honorary Treasurer or other proper officer for the time being
of Cancer Research UK shall be a complete discharge to my
executors.
3. Specific legacy bequest (a named item)
I, give to Cancer Research UK (Registered Charity Nos. 1089464,
SC041666 and 1103) of Angel Building, 407 St John Street,
London EC1V 4AD absolutely, my (name and description of item).
There are several kinds of gifts you
can make in your Will:
• A ‘residuary gift’ which is a percentage of your
estate after all debts and taxes have been paid
and includes property, investments and cash.
This is less likely to be affected by inflation so
is the most valuable way to give to us through
your Will.
• Cash, known as a ‘pecuniary gift’
•A ‘contingent gift’– a legacy made on the
basis of another event happening first. For
example, your Will could state that a gift only
applies if all other beneficiaries named in your
Will die before you do.
• ‘Life interest’– this is a gift which someone
can benefit from in their lifetime. For instance,
your house could be left for the use of a
relative. When they die it could pass to someone else, or to a charity.
4. Reversionary legacies/Life interest trusts
My trustees shall hold [...] on trust for [...] during his lifetime and,
following his death, hold the capital and income for Cancer
Research UK (Registered Charity Nos. 1089464, SC041666 and
1103) of Angel Building, 407 St John Street, London EC1V 4AD
and the receipt of the Honorary Treasurer or other proper officer
for the time being of Cancer Research UK shall be a complete
discharge to my trustees.
Thank you for considering a gift in your Will
to Cancer Research UK to help more people
beat cancer in the future.
cruk.org/legacies
Though it may sound
incredible, our vital
research is entirely
funded by our
supporters.
will
planner
A checklist to help you to prepare all the
information needed to make your Will.
Assets
Name:
Address:
Home and any
other property:
Car:
Your partner’s name and address:
£
£
Furniture:
£
Household effects
(e.g antiques):
£
Items of particular value
(e.g. jewellery):
£
Children’s full name and addresses:
Financial
Executors’ full names and addresses:
Savings in banks and
building societies:
£
Shares/Investments/
Premium Bonds etc:
£
Insurance policies:
Pensions:
Other:
Legal guardian(s) full names and addresses:
£
£
£
Less mortgage/loans/
credit cards etc:
£
Total assets
£
Funeral instructions:
Care of my dependent relative(s):
Look after your pets:
Other:
cruk.org/legacies
Law – English Dictionary
Cancer Research UK
1. We’re the world’s leading cancer
charity dedicated to saving lives
through research 2. We are the only
ones fighting over 200 cancers,
including the 1 that matters to you
3. Cancer Research UK pioneers
life-saving research to bring forward
the day when all cancers are cured
4. Our ground-breaking work into
preventing, controlling and curing
cancer has seen survival rates
double in the last 40 years
5. Our scientists and doctors have
contributed to most of the world’s
top cancer drugs and we have
pioneered the use of radiotherapy
to treat cancer
Conditional cash gift
1. Type of gift in Will 2. For example
money to a young person when they
reach a certain age
b. Banks/ Trust Corporations c. Will
writers
3. Lay executors a. Friends b. Family
Free Will Service
1. Cancer Research UK has teamed
up with solicitors across the UK to
offer a free and convenient way to
write or update a Will 2. You must be
over 55 to use the Free Will Service
3. Service is available online and
offline
Inheritance tax
1. Currently paid to the government
at a rate of 40% if your estate is
worth more than £325,000 (as of
2013) 2. Most gifts left to us are
exempt from this tax because we’re
a charity 3. Recent changes to
the law could mean that giving to
charity benefits an estate as a whole
Die intestate
1. Dying without having a Will 2. The
deceased’s wishes may be ignored
3. Government will take charge of
the estate
Pecuniary gift
1. Type of gift in Will 2. This is a gift
of a specific amount of money.
It may be worth remembering that
the value may change significantly
over time
Executor
1. The person appointed to
administer the estate of a person
who has died leaving a Will
which nominates that person 2.
Professional Executors a. Solicitors
Probate process
1. Is an official process to prove
if a Will is authentic and valid
2. Gives the executor the legal right
to distribute the Will according
to the deceased’s wishes
Residuary gift
1. Type of gift in Will 2. Is a
percentage of your estate after all
debts and taxes have been paid and
includes property, investment and
cash 3. Less likely to be affected by
inflation so is the most valuable way
to provide for your family, friends
and causes you care about
Specific gift
1. Type of gift in Will 2. A specific gift
is a particular item or sum of money
that you wish to leave to someone
in your Will and can be everything
from jewellery to a car
Trust fund
1. Type of gift in Will 2. A gift to
people or causes released at a
specific date
Will
1. A legal document that contains
a person’s final wishes 2. Outlines
what to do with the possessions of a
deceased person, whether they are
being left to family and friends or
donated to a charity 3. Also known
as testament
We’re here to help
If you have any questions about writing or updating a Will or leaving
a gift in your Will to Cancer Research UK and would like to contact us,
please either call us on our freephone line 0300 123 1862 between
8am and 6pm weekdays or write to Sianne:
Sianne Kerrane
Legacy Fundraising Manager
Cancer Research UK
PO BOX 1561
OXFORD OX 4 9GZ
cruk.org/legacies
Please consider a gift
in your Will and create
more tomorrows for
people with cancer