Frequently Asked Questions

here are some of our frequently asked questions around leaving a Gift in your Will. If you find there is anything not covered here, please feel free to ask for further information, we're always happy to help!

Q. Will my Gift be subject to Inheritance Tax?

The good news is that as we are a charity, every gift is exempt from Inheritance Tax.  The threshold at which inheritance tax kicks in does change, so please visit https://www.gov.uk/inheritance-tax to keep up to date. If your estate is going to attract inheritance tax, any gift you leave to us will be deducted from your estate before any tax liability is calculated.

From 6th April 2012, if you leave 10% or more of your estate to a charity, you’ll be taxed at the lower rate of 36% (rather than 40%) on any part of your estate that qualifies for inheritance tax. This will reduce the inheritance tax due on your estate.

Q. What is a legacy gift?

A legacy gift is a specific item or donation left in a Will. It’s also commonly known as ‘gifts in Wills’. Legacy gifts are one of the most significant contributions you can make to a cause you care about.

Gifts in Wills

There are different types of gifts in Wills. Some of the most common ones we receive are:

1. Residuary gifts - A share, or sometimes all, of an estate after all the other payments have been made.
2. Pecuniary gifts – A specific sum of money
3. Specific gifts - A particular item, such as property, antiques, jewellery and shares.

It is important that the gift is described precisely in your Will, so that the executors can understand exactly what you intended.

Leaving estate to charity

Leaving a share of your estate to charity is also known as a ‘residuary gift’. One of the advantages of leaving a share of your estate to charity is that it doesn't lose value over time, and if you leave a proportion to us, you can still ensure other beneficiaries are provided for first.

Leaving a Will

Leaving a Will lets you take care of your assets, your loved ones and the causes you care about after gone. If you die without leaving a valid Will, their assets (or their ‘estate’) gets shared according to certain rules (called ‘intestacy’).

Download our Free Gifts in Wills Guide

Q. What information is needed for a Will?

1. Your personal information – Your Will writer will need your full name, date of birth, current address, relationship status and names and dates of birth of any children you have.
2. Your Estate – This refers to all the money, property and possessions you own. It’s also important to include any debts you have, so the net value of your Estate can be calculated.
3. Your Beneficiaries – The people who you want to receive your Estate when you die.
4. Your Executors – The people who you want to carry out your Will when you die.
5. Legal guardians for children – If you have children under 18, you’ll need to name someone who’ll be legally responsible for them.
6. Your Trustees – The people who you want to manage any Trusts you leave behind. A ‘Trust’ is where someone holds an asset for the benefit of someone else.
7. Other wishes – You can specify in your Will if you have any specific funeral arrangements. You can also leave a ‘Letter of Wishes’. This explains the motivation behind the decisions in your Will and can be useful for your Executor(s).

Q. How to make a Will?

1. Get all the information you’ll need for your Will – we’ve put together a list of all the information you need to make a Will above.
2. Write your Will – you can write your Will yourself, turn to professional advice, or you can use our Free Will writing Service.
3. Ensure your Will is legal – to make your Will is legally valid, it must fulfil the criteria set out here
4. Update your Will –  you should review your Will every 5 years and after major changes in your life. For example, a change in your relationship status, having a child or moving house.

Q. How much does it cost to make a Will?

The great news is that with our Free Will Writing Service, there is no charge for making your Will. The free Will writing service allows you to have your Will written completely free by a local participating solicitor in your area. 

The National Free Wills Network will send you out a pack that includes a list of all the participating solicitors nearest to you. Be assured there is no obligation to leave a gift in your Will to charity.

For more information, or if you have any questions, please contact our Legacy Manager by calling 01428 726330 or by emailing [email protected]

How to leave a gift in your Will

1. Get your Free Gifts in Wills Guide for advice on what you need to consider when writing your Will
2. Use a professional Will writer – we can give you the details of Free Will writers in your area
3. Provide your Will writer with details of your chosen charity (the charity name, address and registered charity number)

Our address and charity number

To include Dreams Come True in your Will, please ask your solicitor to use our charity and address details below to ensure the gift reaches us.

Dreams Come True
Exchange House
33 Station Road
Liphook
Hampshire GU30 7DW

Phone: +44 (0) 1428 726330

Download our Free Gifts in Wills Guide