Wording for a Will or for a Codicil to a Will
If you are drawing up your Will, a bequest or legacy would enormously assist the work of the Trust. It can be useful to know that the Trust is an Exempt Charity under Schedule II of the 1993 Charities Act.
(i) To anyone wishing to leave a legacy of a particular sum in their Will to the UNIVERSITY COLLEGE DURHAM TRUST the following wording is suggested: I GIVE the following pecuniary legacy free of Inheritance Tax: (a) to the UNIVERSITY COLLEGE DURHAM TRUST the sum of pounds (£ )
(ii) To anyone wishing to leave a particular item (e.g., a gold watch or painting) in their Will to the UNIVERSITY COLLEGE DURHAM TRUST the following wording is suggested: I GIVE the following specific legacy free of Inheritance Tax: (a) to the UNIVERSITY COLLEGE DURHAM TRUST my gold watch (or whatever)
(iii) To anyone wishing to leave their residuary estate in their Will to the UNIVERSITY COLLEGE DURHAM TRUST the following wording is suggested: I GIVE DEVISE AND BEQUEATH my Estate not hereby or by any Codicil hereto otherwise specifically disposed of subject to the payment of my debts and funeral and testamentary expenses plus any Inheritance Tax to the UNIVERSITY COLLEGE D URHAM TRUST absolutely.
In each of the above cases you should also ensure that this additional clause is incorporated in your Will:
CHARITY PROVISIONS
(a) I DECLARE that the receipt of the person appearing or professing to be the Treasurer for the time being of any charitable institution benefiting hereunder shall be a sufficient discharge to my Executors and that my E xecutors shall not be concerned to see the application of moneys paid out to the said Beneficiaries (b) I DECLARE that if any charitable or other body to which a gift is made in this my Will has changed its name or amalgamated with or transferred its assets to any other body then my Executors shall give effect to the gift as if it had been made (in the first place) to the body in its changed name or (in the second place) to the body which results from such an amalgamation or to which the transfer has been made
Adding a Codicil to a Will:
You can also help the work of the Trust by changing your existing Will. Minor alterations may be made through the use of a codicil which is a formal addition to your existing Will. However, extensive changes may necessitate an e ntirely new Will. It is important that you do not attempt to change you existing Will by deleting or adding words. Nor should any attachments be made to your existing Will. Steps such as these are likely to invalidate your existing Will. If you wish to change your existing Will in order to leave a bequest to the Trust through the use of a codicil, the following wording is recommended. I [Name] of [Address] DECLARE this to be a First/Second/Third Codicil to my Will dated
1. NOW I hereby add to my said Will the following Clause
Select one of the above three options and insert the appropriate Clause number
2. IN all other respects I confirm my said Will
IN WITNESS whereof I have to this the First/Second/Third Codicil of my Will dated hereunto set my hand this day of Two thousand ……… SIGNED by the said as a First/Second/Third Codicil to his/her Will dated in our joint presence and then by us in his/her presence and in the presence of each other:Please ensure any Will or codicil entered into is properly executed. It is always better to seek the advice of a solicitor.