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Hundreds of people have chosen to remember us in their wills and the income from legacies is hugely important in sustaining the educational work of the Museum and securing the future of these fabulous exhibits.
Well it's high time you got one. Without a Will, your money and assets will be subject to a huge administrative burden for your family; they may not be legally allowed to follow your stated wishes and the state may get a much larger proportion in tax. You can see any solicitor or even get a DIY form from the post office.
You don't have to draw up a completely new Will if you want to add in a bequest to a charity. You can add in a simple statement, called a codicil, which records your revised wishes.
If you die leaving assets (eg property, jewellery, car, stocks and bonds, etc) worth more than a certain amount (£300,000 in 2007) then Inheritance Tax becomes payable. However, if you make a bequest to a charity, such as the Royal Air Force Museum, it is often possible not only to reduce your total tax bill but also to reduce the rate of tax payable on those parts of your estate which may attract Inheritance Tax.
First, take advice from a solicitor if you can. If you still want to go ahead with leaving a legacy with the Royal Air Force Museum, there are two ways to do it.
You can allocate a specific item or amount of money to us, known as a specific legacy. This can be in the form of property or shares; items such as medals or a flying log book; or a specific amount of money.
Or you can leave a residuary bequest, which means that your chosen charity will get a proportion (or all) of whatever is left over when you have allocated all the bequests to your family, friends etc.
You can use these forms of words to suggest to your solicitor or add to your Will. Our registered address is in London, but your legacy will be used for projects across the Museum sites:
I bequeath to the Trustees of the Royal Air Force Museum, Grahame Park Way, London, [insert your bequest here] and I declare that the receipt of the Museum's Secretary for the time being or other proper officer of the trust shall be sufficient discharge for such legacy.
I bequeath to the Trustees of the Royal Air Force Museum, Grahame Park Way, London, [insert % share or all] of the residue of my estate and I declare that the receipt of the Museum's Secretary for the time being or other proper officer of the Trust shall be sufficient discharge for such legacy.
The information contained on this website is correct at the time of publication (November 2007) but changes in the law do occur from time to time and you should ask your solicitor to confirm the up-to-date legal position before preparing and completing your Will.
Yes of course. We are not qualified to give you any legal advice about your Will, but we would be delighted to discuss any other aspect of a bequest such as specific projects at the Museum; keeping you up to date with Museum news in the meantime or recognition within the Museum when your legacy matures.