Leaving a gift in a Will could mean the difference between life or death for a future patient. MAAC operates at the forefront of helicopter emergency medical services, and leaving a gift will ensure that our helicopters will continue flying the skies for years to come.
No matter how large or small your gift, it will make a huge difference to our charity. Whether that is medical training, aircrew kit and uniform or a lifesaving drug, MAAC is grateful for every penny.
Why do I need a Will?
We spend our lives working to provide for our loved ones and ourselves. You may have a house or flat (in the UK or overseas), shares, savings or investments, as well as your personal possessions. All of these assets are your ‘estate’. Making a Will ensures that when you die your estate is shared according to your wishes.
Why you should consider making a Will:
- Ensure your loved ones are provided for in the way you want
- Ensure your assets are dealt with correctly, giving you peace-of-mind that there will be no legal disputes after you’ve gone
- Protect your assets and help reduce the impact of inheritance tax
There are several reasons why people do not make a Will:
- Not knowing when the key life stages are to make or update a Will
- Believing that having a Will written professionally is expensive
- Thinking the process is always long and complicated
- Putting off a difficult decision
- Thinking you only need a Will if you have a lot of money
Why is it important to review my Will?
If your circumstances have changed since you last made your Will and your Will hasn’t been updated to reflect this, it could be invalid. Once you have written your Will, you should review it regularly to make sure it reflects your wishes.
Do you intend to pledge a gift to Midlands Air Ambulance Charity in your Will?
If you do intend to remember Midlands Air Ambulance Charity in your Will, we would welcome you to let us know. It is not compulsory for you to get in touch, but pledgers mean so much to us, and we would appreciate the opportunity to thank you for keeping Midlands Air Ambulance Charity flying into the future. Telling us about your gift will help us to plan for the future. Please be rest assured that any information you share with us will remain confidential and is not legally binding.
Making sense of the Legal Terms
Guidance for non-professional Executors
For Solicitors and Executors
Things to consider when making a Will
There are three simple ways you can support us through your Will.
Make a financial donation – This is known as a ‘pecuniary gift’, where you can choose to leave a cash lump sum to the charity.
Donate a portion of your estate – Known as a ‘residuary gift’, this means you can leave a share or the remainder of your estate to the charity after you have provided for your loved ones and after any outstanding debts have been paid. As it is less likely to be affected by inflation, this is one of the most valuable ways to donate to our service.
Donate an asset – You may choose to donate a specific gift to the charity, such as stocks, shares, property or furniture for example.
Is there recommended wording for the Will?
Yes, we have suggested wording that may be of help.
“I give the sum of £ (or specify a share of residue) to Midlands Air Ambulance Charity, Hawthorn House, Dudley Road, Stourbridge, West Midlands, United Kingdom, DY9 8BQ (registered charity number 1143118) for its general purposes and I declare that the receipt of the honorary treasurer or other proper officer of the said Midlands Air Ambulance Charity, Hawthorn House, Dudley Road, Stourbridge, West Midlands, United Kingdom, DY9 8BQ (registered charity number 1143118) for the time being shall be a full and sufficient discharge for the said legacy.”
Does leaving a gift in my Will reduce Inheritance tax?
Gifts left to charity in Wills are free from inheritance tax so can, in some circumstances, reduce the amount of inheritance tax that might otherwise be payable on your estate. If, for example, you leave 10% of your net estate to charity, the rate of inheritance tax applied to your taxable estate could be reduced from 40% to 36%, so this:
- reduces the overall inheritance tax bill
- means it costs less to give to charity
We would always recommend that you seek a solicitor’s advice in relation to inheritance tax, as this is a complicated subject. The Money Advice Service website has some more detailed information on inheritance tax, but please speak to your solicitor if you have any specific questions.
Choosing an executor?
You will also need to choose executors of your Will. Often, people will choose their solicitor or a family member to carry out the terms of their Will and ensure their wishes are fulfilled. Midlands Air Ambulance Charity has Trust Corporation Status, so if you wish, you could choose to name the charity as the executor of your Will. All you need to do is contact us and let us know.
I'm an executor of a Will including a gift to Midlands Air Ambulance Charity. What do I need to do?
Administering an estate can be a daunting process. If you are administering a Will that includes a gift to the Midlands Air Ambulance Charity, you may have some questions, please contact us, we are here to help or see our useful information guides.
By updating or making a Will and remembering Midlands Air Ambulance Charity you can help us save lives in your area. Plus, if you're over 55, take advantage of our Free Will Writing Scheme.
If you would like to receive a copy of our Gift in a Will brochure to find out more, please complete the form below.