A gift in your will is also known as a legacy.
As a registered charity YHA (England & Wales) Ltd welcomes such gifts.
We have prepared the following information to help you consider leaving a gift to YHA in your will.
About YHA and a Message from the Chairman and Trustees
About leaving a gift in your will to YHA – frequently asked questions and answers
Supporters’ Days
Recent examples of how legacy gifts have been used
Glossary of terms your solicitor might use
Suggested wording in your will
IHT (Inheritance Tax)
About YHA and Message from the Chairman and Trustees.
YHA (England & Wales) Ltd is a registered charity, founded in the early 1930s.
We maintain an extensive network of hostels housed in diverse buildings in outstanding locations, both urban and rural. YHA has thousands of committed members and volunteers and is uniquely able to provide a safe, caring and value-for-money place to stay – for everyone, but especially young people.
We are a vibrant, forward thinking charity which, for the past 80 years, has offered everyone, especially young people, opportunities, experiences and inspiration by challenging them to appreciate life outside their usual environment.
Many hostels offer educational and outward bound activities. The YHA experience promotes self-confidence and responsibility.
We depend on the generosity of our friends and supporters to continue this valuable work.
“YHA has been built by people like us, people who care about the countryside and the part that we can play in helping the young people of today enjoy something of what’s so special to us. As YHA approaches its 80th birthday we can reflect on our charitable object and what we have delivered for young people.
Things may have changed since the 1930s, but what we can offer to young people is as vital as ever. On a recent visit to Moss Side in Manchester, I was told of young people, desperately trying to stay out of gangs, and yet being afraid to travel 3 miles on a bus into the city centre. The thought of a trip to the Peak District was beyond their wildest dreams, yet with YHA it can and does happen.
As Chairman of YHA, I’m delighted to lend my enthusiasm and support our legacy programme. YHA has been built on gifts, by people like you whether its your talents, time or indeed, money. This support is vitally important if we are to go on making a difference for disadvantaged young people.
It is, of course, very important to make provision as you see fit within your will and to leave a gift to charity is a decision that needs a great deal of thought. I hope that the information here explains how valued your gift would be and how important it is that our work continues.
Income from gifts in wills enables us to support many projects, whether allowing us to subsidise a place on a school trip for a disadvantaged child or, as in the case at National Forest, building a new eco-hostel. Play equipment at Boggle Hole and a new shower in a hostel in North Wales have also been provided by generous gifts from people like you.
Thank you, on behalf of YHA for your support, often over many years. It is appreciated.
Your gift may make the difference between managing with what we have or making positive improvements that benefit all our guests, but especially young people of limited means.”
Chris Darmon – YHA Chairman
“I want to assure you that every penny of your gift will be spent according to your wishes. Legacy income is important to the YHA in furthering the important work we do at our Youth Hostels and furthering our charitable object.”
Lindsey Porter, Trustee
About leaving a gift in your will to YHA – frequently asked questions and answers
Q. Can you advise on appropriate wording to include a gift in my will?
A. We have produced appropriate wording so you can include a gift to YHA in your will. This is available by contacting us.
Q. Is a gift to YHA subject to Inheritance Tax?
A. No. YHA, like all registered charities, is currently exempt from Inheritance Tax.
Q. What difference will my legacy gift make?
A. Legacy gifts make the difference between managing with what we already have or improving our hostels to give people a better experience, one they often remember forever.
Q. Do I have to leave a lot of money?
A. No, we welcome all gifts, large and small. Click here (go to examples page) to see examples of how we have used legacy gifts and see how, with a little imagination all gifts can be very effective.
Q. Can I leave a gift for a specific purpose?
A. Yes (as long as your request is not in conflict with YHA policy). If you prefer to specify how your gift can be used, your wishes will be respected. The wording to be used in your will is very important so we suggest you contact us so we can advise a wording that ensures your wishes are clear and can be carried out.
Q. Will people know I have left a gift?
A. Unless a request is made to the contrary, all legacies over £20,000 are included in our annual report. For all gifts we try to consult with family and friends and, where appropriate, mark specific buildings or rooms with a fitting acknowledgment of the gift.
Q. What are the types of legacy gifts I can make in my will?
A. If your give a specific amount of money it is called a pecuniary legacy. The amount will not alter over time to adjust for inflation.
A gift of a specific item (for example a collection of books) is called a specific legacy.
If you wish to leave either a share or all of the remainder of your estate (what is left over after taking care of other legacies, funeral expense, etc) this is called a residuary legacy.
Q. Can I leave the contents of my house or specific personal items to YHA?
A. If you are considering this, it is best to contact us to discuss your thoughts so that we can ensure your wishes are complied with.
Q. How do I make a gift during my lifetime?
A. A gift of money can be Gift Aided if you are a taxpayer. Memorabilia is often of great interest for inclusion in the YHA archives. Please contact us to find out about current projects or helping your favourite hostel.
Q. Can I talk to someone who can answer my queries about will making and leaving a legacy gift?
A. Yes, please call Helen Johnson on 01629 592602. Or why not come along to one of our Supporter’s Days?
Recent examples of how legacy gifts have been used
We have many examples of legacy gifts making a difference.
The redevelopment of YHA Lockton, in the North Yorkshire Moors, was helped by such a gift. The hostel has been redesigned as a Green Beacon Hostel and revitalised so that everyone, young and old, enjoy their stay so much more.
The recent refurbishments of YHA Manchester and YHA Coalbrookdale were completed with the help of a substantial legacy gift from the late Frederick Baxendale. Both hostels benefit from a rich industrial heritage, and are also centres for activity breaks for schoolchildren and young people. Given Mr Baxendale’s interests in industry and education, YHA has tried to use his legacy as he might have wished.
A legacy gift from the late Alice Bowman, who wanted to help maintain an older hostel, preferably in North Wales, was put towards work recently completed at YHA Idwal Cottage, the oldest hostel in our network.
Some supporters chose to leave money to our Breaks 4 Kids fund, which subsidises children from disadvantaged backgrounds, so that they can join their friends on YHA residentials.
Smaller amounts are also very effective.
Supporters’ Days
Supporters’ Days are a great way to find out the latest news about YHA, meet new people and learn, amongst other things, how we use gifts and legacy gifts to improve hostels and provide exciting opportunities. We can also provide information on our volunteering and legacy programmes.
These days are free, informative and run throughout the year in hostels around the England and Wales. There is no ‘hard selling’ or obligation. The day is about listening to your ideas whilst giving you information about local hostels and national development.
Supporters’ Day make a difference – your thoughts and opinions really count and we’d welcome the opportunity to hear them and meet you.
For details of the current Supporters’ Day programme please contact Judith Goodall on 01629 592561 or email judithgoodall@yha.org.uk
“A most enjoyable and informative day with nice people” Coalbrookdale, Dec ‘08
“We found the day a very interesting and rewarding experience” Manchester, Jul ‘08
“An excellent day – more please” Medway, Sept ‘08
“Thank you for sparing us the pressure selling routine” Beer, May ‘08
A Glossary of Terms your solicitor might use
Asset
Items of value owned by the deceased, including holdings of bank accounts and shares, property, furniture etc.
Beneficiary
Someone who will benefit from your will.
Bequest
A gift in a will (other than land or building).
Chargeable Estate
An Estate or portion of an estate, whose value is above the threshold for Inheritance Tax.
Chargeable gifts
Gifts made under a will (or during the lifetime and is aggregable with the estate on death), which is liable to Inheritance Tax.
Charging clause
A clause in a will that permits a Solicitor or other professional to charge for work carried out in a professional capacity, or undertaken, which did not require the services of a professional. If no such clause is included, the Trustee Act 2000 implies its’ inclusion.
Chattels
Moveable tangible articles of property.
Codicil
A simple document incorporating changes to a will, either by adding, deleting or altering the provisions made in the will.
Deed of variation / Family arrangement
A variation to a will or intestacy after death, usually as a tax planning device.
Estate
All ownerships and monies, vested or contingent both in possession and reversion that are capable of being disposed of by the will.
Executor/s
The person/s you choose, who will be responsible for administering your will.
IHT (Inheritance Tax)
Tax levied on the value of an estate, which exceeds a threshold. The amount is usually altered each year, and can be increased in some circumstances if your spouse has died before you. Seek advice about this.
Intestate
The term used when someone dies without leaving a will.
Legacy
A gift made in your will.
Lifetime gift
A bequest which the Testator gives during his lifetime. If the Testator dies within 7 years of making his gift Inheritance Tax might become payable on some or all of the gift.
Pecuniary Bequest
A gift in your will of a specified amount of money.
Residue
What remains of your estate after all legacies, bequests, debts, tax and costs have been paid.
Residuary Legacy
An instruction in your will that explains what should happen to the residue of your estate through a Residuary legacy.
Probate
The authorisation confirming that the will is valid. When probate is granted your executors are allowed to carry out your wishes
Types of Legacy:
Pecuniary Legacy
A gift of a specific amount of money.
Residuary Legacy
A gift of a part of your estate after all costs have been paid.
Specific Legacy / Bequest
A gift of a particular item such as a painting, a piece of jewellery, a portfolio of shares or it could be your estate in its’ entirety.
It is often quite easy to decide what pecuniary and specific gifts to include in your will as decisions you make will be based upon personal circumstances. A residuary legacy is an excellent way of avoiding having to quote specific sums of money or individual items and makes it less necessary to update your will often. For example, you may decide to leave someone 50% of the residue of your estate. The actual value of the gift may rise and fall in line with your circumstances or inflation, but whatever happens the % you choose will be calculated on any amount left.
Suggested Wording in your will
Residuary Legacy - I give all ( or a % share) of the residue of my estate to YHA (England & Wales) Ltd, Trevelyan House, Dimple Road, Matlock, DE4 3YH, registered charity number 306122 for its general charitable purposes. I direct that the receipt of the treasurer or duly authorised officer shall be a valid and appropriate form of discharge.
Pecuniary Legacy - I give the sum of (amount in words and figures), free of tax to YHA (England & Wales) Ltd……………. continue as above
Specific Legacy / Bequest – If you wish your gift to be used for a specific area or hostel, you may insert “ and express the wish it be used for ………” YHA will comply with your wishes as far as is reasonably possible.
Safe keeping of your will
Remember to keep your will in a safe place and tell your executors where it is held. It is suggested that you leave a second copy with your solicitor.
IHT (Inheritance Tax)
It is vitally important to consider IHT and how it might affect your estate.
Inheritance Tax only applies if the taxable value of your estate when you die is more than the current threshold. IHT is only payable on the excess above this threshold (the Nil Rate Band). The tax is currently levied at 40%.
There are a number of exceptions allowing you to pass amounts, (during your lifetime or in your will) without any IHT liability, i.e.
- If your estate passes to your husband, wife or civil partner and you are both domiciled in the U.K. no IHT is payable even if your estate is over the current threshold.
- Most gifts made more than 7 years before your death are exempt. Ask the YHA Legacy Manager for further details or see for yourself at www.direct.gov.uk. From the home page select money, tax and benefits, followed by death and bereavement to find all the current details.
- Certain other gifts, such as wedding gifts up to £5,000 (depending on the relationship between the giver and the recipient), gifts to charity and £3,000 given away each year are also exempt.
Recent rule changes mean that rather than each married partner (including civil partners) having an individual allowance, which only they can use, couples will be able to make use of unused allowances between them.
This means that if one partner dies and decides to make use of £30,000 of his/her allowance to leave assets to someone other than his/her partner, the surviving partner will inherit the rest of the allowance.
For those not involved as married or civil partners the Nil Rate band, as it’s called, applies.