Your questions answered
We hope you find these answers to some common questions and concerns regarding Wills helpful. If you would like to discuss any of these matters further, or have any other questions, please don’t hesitate to contact Cassie Edmiston, Head of Fundraising. For legal advice, we always recommend speaking to a legal professional.
What if I change my mind?: You are of course always free to change your mind about your gift. You can amend your Will, or add a codicil, at any time that is convenient to you. Any changes should be always be made by a legal professional.
What's next?: Whether you are making a new Will or updating an existing one, we recommend you speak to a specialist advisor. They have the legal expertise to ensure your wishes are clearly expressed and that there will be no problem carrying out those wishes. You should have our registered charity name (Prisoners' Education Trust) and charity number (1084718) as your legal advisor will need this to ensure your gift is correctly noted. If you don't know how to find an advisor, Remember A Charity has a useful directory.
Is my tax situation affected?: Inheritance Tax is usually paid on an estate when somebody dies. It is also sometimes payable on trusts or gifts made during someone's lifetime. Many estates don't have to pay Inheritance Tax because they're valued at less than the threshold (currently £325,000). The tax is payable at 40% on the amount over this threshold or 36% if the estate qualifies for a reduced rate as a result of a charitable donation; from 6 April 2012, anyone leaving 10% or more of their estate to a charity in their Will will have the part of their estate subject to Inheritance Tax taxed at 36%, rather than 40%.
So if you leave a charitable gift, it will be deducted from your estate before any Inheritance Tax liability is calculated. To find out more visit the HMRC website.
I have a family and want to ensure they come first: We absolutely understand that your loved ones come first and should always be your priority when writing your Will. However, any gift you feel you can give after they’ve been provided for could go a long way to benefit prisoner education in the future, changing the lives of those who wish to learn.
Isn't this a private matter to me?: You are under no obligation to let us know if you have left a gift to PET in your Will or indeed what you have left – it is your decision and we will always respect that. If you would like to tell us however, we'd love to be able to thank you for your generous gesture. You can contact the team here.
What if I want to help now?: That's great! We’re always really grateful for any support we receive right now. Click here to learn more about how you can help now. If you can also consider leaving us a gift in your Will it can give us, and you, the peace of mind that comes from knowing we can be here when we’re needed in the future.
I already have a Will. Is it difficult to change it?: Over time, many people decide to change or alter their Wills. If the changes are simple and straightforward this can be done by way of a Codicil – a legally binding document, supplementary to a Will, which is executed with the same formalities as a Will, and adds to, varies or revokes provisions in the Will.
If the changes are major it is likely you will need a new Will. With any additions, codicils or changes, we always recommend that you seek professional advice.
I understand you are a member of Remember A Charity - what does this mean?: Remember A Charity is a consortium of charities working together to encourage more people to consider leaving a charitable gift in their Will, once they’ve looked after their family and friends. Together, we aim to do what no single charity can do alone, making legacy giving a social norm. PET's membership ensures we are able to signpost our own supporters to specialist services, and as an organisation we benefit from access to valuable support, advice and latest research.
We know it can be easy to put off, but writing your Will is essential to ensure your loved ones and the causes you care about are taken care of exactly how you wish.
If you have any further questions, you can email Cassie Edmiston, Head of Fundraising, or call us on 020 3752 5670.