Leaving your lasting legacy

The health of our loved ones is paramount to us, and that doesn’t stop when we are gone. Why not consider leaving a gift to Lancashire Teaching Hospitals Charity in your will to ensure the people you love, and those in your local community, have access to the best care for generations to come – all thanks to your contribution.

You may opt to make a donation as an expression of gratitude for the exceptional care you’ve experienced in one of our wards or departments. Alternatively, you may choose to honour the memory of loved ones by contributing to on-going research and enhancements in our facilities.

Leaving a gift in your will creates a lasting impact for future generations. Your donation will benefit our patients and staff for years to come, from funding state of the art equipment, to providing comfort to children undergoing challenging procedures.

If you choose to support us here at Lancashire Teaching Hospitals Charity, you can make sure your gift goes to exactly where you want it to. You can specify a particular ward or department, or even staff wellbeing and medical research.

How to leave a gift in your will

Creating a will is typically a straightforward process, often requiring less than 45 minutes of your time. Once you’ve ensured the well-being of your loved ones, consider including a charitable gift to support a cause that holds significance for you.

We always recommend contacting a solicitor when it comes to writing your will, they can offer valuable advice including information on inheritance tax, and they can also keep a copy of your will. You can find a solicitor by contacting the law society at lawsociety.org.uk or calling 0207 242 1222.

What kind of gift can I leave?

The most popular gift people leave for charities is whatever is left after family and loved ones are taken care of, this is called a residuary gift. You can also leave a specific amount of money which is called a Pecuniary gift.

Other options would include :

  • A residuary gift – A share of your estate after all debts have been settled and other gifts made.
  • A pecuniary gift – A fixed sum of money.
  • A specific gift – An identifiable asset such as a property, an investment of stocks and shares or a piece of jewellery or artwork.
  • A reversionary gift – Allows you to provide for a loved one during their lifetime, for example giving them the use of a home or other asset. After their death, the assets are passed to another specified beneficiary.

Write a Codicil

If you do not want to write a new will then you can use a codicil. This is a document used to make changes to a will which has already been made. It is best to speak to a will-writing advisor or solicitor if considering incorporating a codicil into your will.

Leaving any amount to us here at Lancashire Teaching Hospitals Charity changes lives in the present and the future, we are so incredibly grateful for your consideration.

FAQs

How important is a will?

Extremely! Writing a will is the opportunity to make sure what you’re passionate about in life, lives on. If you pass away without leaving a will, there are certain rules that dictate how your money, property or possessions should be allocated (this is known as ‘intestacy’). This may result in your estate not being distributed in the way that you would have wished.

Yes, it’s legal, but we recommend engaging a solicitor to draft or review your will. This ensures it aligns with your wishes, is legally valid, and minimises potential errors causing estate settlement delays. A solicitor helps navigate legal language and addresses probate, Inheritance, and Capital Gains Tax issues for a smoother process.

Absolutely. Every contribution, regardless of size, makes a meaningful impact. You can specify a fixed amount or a percentage of your estate to support LTHC in accordance with your wishes.

While it’s not mandatory, informing us of your decision can be beneficial. It allows us to make more accurate plans for the future and express gratitude to you today.

Yes, you can designate your gift to a specific ward, department, or project that holds special significance for you.

If you wish to leave a lasting gift in your will, the following details will need to be given to your solicitor, as well as the amount you want to leave : Lancashire Teaching Hospitals Charity, Royal Preston Hospital, Fulwood, Preston, PR2 9HT. Registered Charity Number 1051194.

In some cases, paying less Inheritance Tax is a benefit to leaving a gift to a charity in your will. If your estate is subject to Inheritance Tax (IHT), it is payable at a rate of 40 percent. However, by making some simple plans, the amount of Inheritance Tax payable when your will becomes active can be significantly reduced. For example, gifts left to UK-registered charities, such as Lancashire Teaching Hospitals Charity, are exempt from Inheritance Tax. The gift will be deducted from your estate before the tax is calculated, and so reduce the amount of IHT payable. We strongly advise you contact your solicitor for more indepth information.

Consult your solicitor and a codicil can be drawn up to allow you to make the required changes.

If you would like more information on legacy giving please complete the contact form below and one of our friendly fundraisers will get back to you.

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