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How to Make a WillThere are several ways you can choose to remember the Tertön Sogyal Trust in your Will:

  • Fixed Sum bequest — you choose to leave the Tertön Sogyal Trust a specific sum of money.
  • Residuary bequest — once you have provided for your family and friends, and all other bequests and estate-related costs have been deducted, you leave the remainder of your estate to the Tertön Sogyal Trust.
  • Property bequest — you choose to leave the Tertön Sogyal Trust a specific asset or valuable possession, such as real estate, stocks or bonds, jewellery, or a work of art.1
  • Reversionary bequest — in which you place your assets in a trust for the benefit of a loved one, during their lifetime. After their passing, the trust assets are donated to the Tertön Sogyal Trust.

Your bequest to the Tertön Sogyal Trust will be free of Inheritance Tax and may even help reduce the total tax burden on your estate.

You may find the following suggested wordings helpful when discussing a new Will:

Fixed Sum Bequest – I give £[……….] to the Tertön Sogyal Trust, a charitable company registered in England and Wales under company number 3245152 and registered charity number 1059323 respectively and having its registered office at Michael House, Castle Street, Exeter, Devon, EX4 3LQ, UK (the “Charity”) for its general charitable purposes.

I direct that the receipt of a person who appears to be the treasurer or other proper officer of the Charity shall be a sufficient discharge to my executors and that if at my death the Charity has ceased to exist or amalgamated with another charity or has changed its name my executors shall pay this legacy to the charitable organization which in their discretion they consider most nearly fulfils the objects of the Charity.

Residuary Bequest – I give all the rest of my estate both real and personal whatsoever and wheresoever subject to the payment of my debts funeral and testamentary expenses and legacies to the Tertön Sogyal Trust, a charitable company registered in England and Wales under company number 3245152 and registered charity number 1059323 respectively and having its registered office at Michael House, Castle Street, Exeter, Devon, EX4 3LQ, UK (the “Charity”) for its general charitable purposes.

I direct that the receipt of a person who appears to be the treasurer or other proper officer of the Charity shall be a sufficient discharge to my executors and that if at my death the Charity has ceased to exist or amalgamated with another charity or has changed its name my executors shall pay this legacy to the charitable organization which in their discretion they consider most nearly fulfils the objects of the Charity.

If you name a number of residuary beneficiaries in your Will, not all of which are charities, you may also wish to include the following clause, to ensure The Tertön Sogyal Trust receives the full value of your gift, free of inheritance tax.

I declare that if the share in my Estate of any beneficiary named in clause […………] does not qualify for exemption from inheritance tax, that share shall bear its own inheritance tax so that the amount received by each beneficiary named in that clause, before the payment of inheritance tax, is the same.

Property Bequest – I give [insert description of property] 4 [free of tax] and [free from all costs of packing carriage and insurance] to the Tertön Sogyal Trust, a charitable company registered in England and Wales under company number 3245152 and registered charity number 1059323 respectively and having its registered office at Michael House, Castle Street, Exeter, Devon, EX4 3LQ, UK (the “Charity”) for its general charitable purposes.

I direct that the receipt of a person who appears to be the treasurer or other proper officer of the Charity shall be a sufficient discharge to my executors and that if at my death the Charity has ceased to exist or amalgamated with another charity or has changed its name my executors shall pay this legacy to the charitable organization which in their discretion they consider most nearly fulfils the objects of the Charity.

Your pledge – You may wish to inform The Tertön Sogyal Trust of your planned bequest. This will be of tremendous help in planning our future development and will enable us to acknowledge and dedicate your gift in the most appropriate way. Please let us know at the below address.

It is important to identify the property clearly and ensure that the description is accurate as an error of detail may cause the gift to fail. If however the property is of a replaceable or non-specific nature, it may be more useful to refer to the property generically as that of its type existing in the estate at the date of death.

To find out more about the process of making a will and details of some of the people who can help you make one, please go to: www.rememberacharity.org.uk