How to leave a gift in your will

Find out how you can leave a legacy to The King's Fund with our brief guide below.

What kind of legacy can I leave?

You can leave The King's Fund a share of your estate, a sum of money, or a specific item. Please contact us if you are considering other, more complex forms of legacies or estate planning. Because we are a charity, the value of your gift will be deducted by HM Revenue and Customs from the value of your estate before any inheritance tax liability is calculated – so what might have had to be paid in tax can instead be diverted directly to ideas that change health care.

Can I define how my gift is used?

Normally, supporters state in their will that they would like to leave it to The King's Fund to decide how to use their legacy, so that we can take advantage of opportunities at the time. This type of legacy is covered by 'general purposes' in the statements below.

You can specify an area of work you would like to support, but this can prove problematic if that exact specification does not relate to actual work we are doing in the future. We want to be able to fulfil your wishes, so please email Chris Lazenby on c.lazenby@kingsfund.org.uk to talk this over with us first.

Examples of legacies

Giving a portion of your estate

After you have ensured your family and friends receive exactly the percentage of your estate that you want them to, you may wish to leave a percentage of what is left to the Fund. This is called a residuary gift.

Suggested wording for a residuary gift:

I give __ per cent of my residuary estate to The King's Fund, 11-13 Cavendish Square, London W1G 0AN for its general purposes and I declare that the receipt of an authorised officer shall be full and sufficient discharge to my Executors.

Leaving a sum of money

A gift of a specified sum of money is called a pecuniary gift. You can arrange for it to be 'index-linked' so that its value doesn't get eaten away by inflation over the years.

Suggested wording for a pecuniary gift:

I give the sum of £__ to The King's Fund, 11-13 Cavendish Square, London W1G 0AN for its general purposes and I declare that the receipt of an authorised officer shall be full and sufficient discharge to my Executors.

Suggested wording for a pecuniary gift that keeps up with inflation:

I give the sum of money produced by dividing the sum of £__ by the index figure in the Index of Retail Prices ('the Index') for the month in which this will is executed and (having made allowances for any re-basing of the Index which may have happened in the meantime) multiplying it by the Index figure in the Index for the month in which my death occurs, to The King's Fund, 11-13 Cavendish Square, London W1G 0AN for its general purposes and I declare that the receipt of an authorised officer shall be full and sufficient discharge to my Executors.

Giving a specific item

Sometimes people wish to leave us a specific asset from their estate. This might be a portfolio of shares, or the proceeds from the sale of a house.

Suggested wording for a gift of assets:

I give ______ to The King's Fund, 11-13 Cavendish Square, London, W1G 0AN and I declare that the receipt of an authorised officer shall be full and sufficient discharge to my Executors.

Suggested wording for the sale of assets

I instruct my executors to sell for the best possible price the following: ______ and to give the net proceeds free of all tax to The King's Fund, 11-13 Cavendish Square, London W1G 0AN for its general purposes and I declare that the receipt of an authorised officer shall be full and sufficient discharge to my Executors.

What should I do now?

There are various options when it comes to making your will, but we recommend consulting a professional. A professional will ensure that all the legal formalities are correctly followed and that your will is valid.

You can find a solicitor in your area through the Law Society. Professional willwriters are another option, but they are currently less regulated than solicitors. It is important to check that they belong to a professional body and follow a code of conduct. The Institute of Professional Willwriters is just one of the bodies that can help you find a willwriter in your area. Many high street banks are also able to assist with willwriting.

If you have left or are considering leaving a legacy to The King's Fund then please let us know so we can thank you properly. It also enables us to plan ahead with confidence and fund our work to improve health care.

Please complete this form to help us understand your interests