There’s another way to support WBRUK that goes beyond fundraising, donating, or spreading the word about our mission – leaving a legacy gift in your Will. You don’t have to be wealthy to leave a legacy gift, and legacy gifts do not affect how much money you have to provide for old age. Anybody can leave a legacy gift and most estates will experience some tax benefits for doing so.
Curious about this type of philanthropy? Read on for frequently asked questions about legacy gifts, or learn more about how you can make education your legacy with a gift to WBRUK in your Will.
WHAT KIND OF A GIFT CAN I LEAVE TO WBRUK?
There are three main types of gifts that you can leave in a Will:
- Residuary gifts are made from whatever is left over once gifts of money and specific items have been distributed. You can give the whole of the residue to a person or a charity like WBRUK, or a portion of it.
- Pecuniary gifts are specified sums of money. If you would like a gift of money to keep its value over the years, it is a sensible idea to ask your solicitor to index-link it.
- Specific gifts are things, such as a painting, a house, or a ring.
CAN I CHOOSE HOW MY GIFT TO CHARITY IS SPENT?
Yes, if that is important to you. Most people leave their gift to WBRUK without specific conditions so that it can be used wherever it will have the greatest effect. And it can be hard to know where that will be 5, 10, or 20 years ahead.
But if you have an affinity with a particular area where we work, we can ensure your gift is targeted to bicycle recipients in that part of the world.
WILL MY GIFT BE PUT TO GOOD USE?
Unless you make other arrangements ahead of time, legacy gifts left to WBRUK support our education programming. Accessing education is essential to raising one’s economic and societal standing. Girls who complete their secondary education are six times less likely to be married as children. Even just completing primary education has enormous benefits.
In rural developing countries, the biggest barrier to education is often the physical act of getting to school. Tasked with many more domestic chores than boys, girls fall behind because of the cultural obstacles they face. In many areas where we work, it is common for girls to arrive at school late and tired, if they arrive at all.
By providing bicycles to children, especially girls, we can empower them with knowledge and ultimately change the course of their lives. Keeping girls in school has been shown to have a multiplier effect that can help break the cycle of poverty.
HOW CAN I INCLUDE A LEGACY GIFT IN MY WILL?
It’s best to visit a solicitor to make sure your wishes for your family and any charities can’t be misunderstood later on. Existing Wills can have a Codicil added to them, while new Wills should use specific language to describe your gift. We provide that language, along with a codicil form, in our Guide to Planned Giving.