A Will is a legal document and we strongly recommend that you use the award winning Will-making service – www.lawonline.ie which is FREE to LauraLynn supporters or consult with your solicitor when making a Will. The cost is relatively modest and a properly drafted Will means your wishes will be honoured.
What Kind of Gifts can you leave in your Will?
There are several different types of legacies you can leave to LauraLynn. Some of the most common ways are:
1. A fixed sum of money (Pecuniary Legacy)
2. A specific item of value such as property, jewellery or a painting (Specific Legacy)
3. The whole or a percentage of your estate after providing for your loved ones and covering administrative expenses (Residuary Legacy)
Legacies to charities are tax free so leaving a gift to LauraLynn can help reduce the tax payable on your estate.
How to make a Will
No matter whether you choose to draft your Will online or visit your solicitor the following will be help you.
Six Simple Steps to making your Will:
- Write a list of all assets and liabilities to estimate the value of your estate.
- List of all the people you would like to benefit from your Will, plus any charities.
- Decide on a particular solicitor or to draw up your Will. We can’t stress how important it is to have your Will properly made by a solicitor.
- Choose an Executor for your Will. You will need at least one person. They will be responsible for making sure your Will is carried out. You can choose a solicitor, bank manager or accountant. However, they may charge you a fee. Instead, you could ask a family member or close friend.
- To be legally binding, your Will must be signed in the presence of two witnesses, who must then sign it themselves. They or their spouses must not be beneficiaries.
- Keep your Will safe or entrust it to your solicitor. Some people send a copy to the beneficiary charity for their records in case the original is lost or disputed.
- Suggested wording for leaving a gift in your Will;
I give to LauraLynn, Ireland’s Children’s Hospice, Leopardstown Road, Foxrock, Dublin 18, registered charity No. CHY2633: The sum of € (Amount in figures and in words) or (a specific item) or all my property known as (name of property) and situated at (location of property) or All (or a share of) the residue of my estate. I direct that (i) my bequest by applied by LauraLynn, Ireland’s Children’s Hospice or it's charitable purposes and (ii) the receipt of any Trustee of LauraLynn for the time being shall be sufficient discharge to my Executors’.
8. Your solicitor should check the final wording or if using the online Will making service this will be up-to date and will reflect any changes in legislation.
Already made a Will?
If you have already made a Will, it is easy to amend it to include a gift to LauraLynn. Minor changes do not require a new Will and should not incur a fee.