Remembering Karuna in your will

Bequests to charity can be made in just the same way as gifts to individuals. They can take the form of specific gifts of money or possessions, but the most practical way to make a legacy gift is with a “residuary” bequest.

This means that, once you have provided for your family and friends, you give the residue – the remainder of your estate, or a part of it – to the charity. This is especially helpful for the charity since, unlike a specific gift of money (a “pecuniary” bequest), it is not eroded by inflation.

Alternatively you may wish to provide for someone to receive a regular income in their lifetime from the whole or part of your estate (a “life interest”) and then for the capital to go to the charity on their death. This is known as a ‘reversionary’ bequest.

If you would like to help the Karuna Trust in this way please ask whoever is advising you to use the words set out below. They will ensure that your wishes are followed exactly as you intend.

Residuary Bequests

I give the residue of my real and personal estate which I can dispose of by will in any manner I think proper to the Karuna Trust of 72 Holloway Road London N7 8JG, Charity Registration Number 327461 (hereinafter called ‘the Trust’); and the receipt of the Honorary Treasurer or other proper officer for the time being of the Trust shall be a complete discharge to my Executors therefor.

Pecuniary Bequests

I give the sum of £ free of all duty to the Karuna Trust of 72 Holloway Road London N7 8JG, Charity Registration Number 327461 (hereinafter called ‘the Trust’); and the receipt of the Honorary Treasurer or other proper officer for the time being of the Trust shall be a complete discharge to my Executors therefor.

A tax-free gift to charity will reduce the taxable portion of your estate, so that your other beneficiaries will benefit as a result of the reduced tax liability.

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