Guidance on Leaving a Gift to the BIAA in your Will

Biaa_slide_3446

On leaving a gift in your will

Many people decide to leave money to a charity in their Will, and it can be quite simple to do this.

If you would like to consider leaving a gift to the BIAA in your Will, here are some basic guidelines.

Our London Manager can also help with enquiries about this and other forms of giving in a Will, such as an endowment. They can be contacted on 020 7969 5204 or via email.

Making a Will

If you haven’t already made a Will, a solicitor can do it for you. You can find one through the Law Society.

Visit the Law Society

Writing a codicil to an existing Will

If you have already made a Will, writing a ‘codicil’ may be the easiest way of amending it.

A codicil is a supplementary instruction which you can write out, sign, date and keep with the latest copy of your Will.  You will need to add your address along with the signatures, names and addresses of two adult witnesses who are not beneficiaries or married to beneficiaries.

It is highly recommended that you discuss this with a solicitor first, and send a copy of the Will and the codicil to one of your Executors.

What type of gift would you like to leave?

You can make a ‘pecuniary legacy’, specifying the amount of money in cash that you would like to leave to the BIAA, or a ‘residuary legacy’, which leaves a percentage or all the remainder of your estate after all the other beneficiaries have been provided for.

Sample wording for a pecuniary legacy:

‘I bequeath absolutely the sum of ________ pounds sterling (£____) to the British Institute of Archaeology at Ankara, 10 Carlton House Terrace, London SW1Y 5AH (Registered Charity No. 313940; Company No. 477436) and the receipt of a duly authorised officer for the time being of the British Institute of Archaeology at Ankara shall be sufficient discharge for my Executors.’

Sample wording for a residuary legacy:

‘I bequeath ________ percent (____%) of the residue of my real and personal estate to the British Institute of Archaeology at Ankara, 10 Carlton House Terrace, London SW1Y 5AH (Registered Charity No. 313940; Company No. 477436) and the receipt of a duly authorised officer for the time being of the British Institute of Archaeology at Ankara shall be sufficient discharge for my Executors.’

Tax benefits

In the UK, leaving a gift to a charity in your Will is free of inheritance tax and can also lower your overall IHT liability.