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Leaving a Legacy - Volleyball England Foundation
1. Where there is a
WILL there is a way
Where there is a
WILL there is a way
2. 2 3
CONTENTS
3. Preamble
3. The Volleyball
England Foundation
4. Gifts in Wills
5. Frequently Asked
Questions (FAQ’s)
6. Your Will
7. Next Step
The Volleyball England Foundation
Enjoyed by people of all ages, both
genders, all nationalities and those with
and without disabilities, volleyball is a
totally inclusive sport.
The Foundation aims to provide financial
support to help develop, educate and
promote the health of individuals and
groups through volleyball.
It is the aim of the Foundation to
ensure the opportunity to play
volleyball is available to all and
not limited by income.
By supporting the Volleyball England
Foundation, you are helping to have
an impact on people’s lives through
volleyball.
Always a sensitive matter, and that is why we want to address it in this way.
This booklet prepared by the Volleyball England Foundation, a registered charity number 1138864,
aims to highlight the process of creating a Will and making a legacy to our greatest of sports.
PREAMBLE
The aim of the Volleyball England Foundation is to give more
people the opportunity to enjoy volleyball and the health and
social benefits it brings.
3. 4 5
Leaving a Gift in your Will
FAQ’s
If, like us, volleyball has been an incredibly positive
and valuable part of your life and you would like to
help others who might not have that chance to
experience the profound impact that sport can have,
then a gift in your Will can continue the Foundation’s
efforts and leave a legacy of support to all those that
come after you.
By deciding to remember us in your Will,
you will help our team be there to support
and guide all ages, all abilities,
all across England.
If you have questions about leaving a gift in your Will to us, you may find the answer here.
Why should I leave a gift
to the Foundation?
If you believe in supporting future generations in volleyball
then leaving a gift in your Will to us is a great way to help us
do just that. Gifts we receive make a real difference to
developing the sport from grassroots right through to
performance level. Your gift will always matter.
Can I decide how I would
like my gift to be used?
Gifts that are ‘unrestricted’ (i.e. that we can use wherever they
will make the biggest difference) are the most valuable to us as
they can be used where they’re most urgently needed.
However, if there is a particular aspect of our support that
should be recognised, we are completely here to listen and try
and meet your aspirations.
What type of gift can I leave?
We’re hugely grateful for every gift and there are three main
types of gift you can leave:
• A residuary legacy is a percentage of whatever is left over
from an estate after debts, funeral expenses, administration
costs, and all other gifts have been paid.
This can be any percentage you like. Many people choose
this type of gift as it ensures quite rightly, that their loved
ones are taken care of first.
• A pecuniary legacy is a fixed sum of money that can be any
amount, big or small.
• A specific legacy is a gift of a particular item, such as
property or an item of jewellery.
GIFTS IN WILLS
4. 6 7
Why is it important that
I write a Will?
A Will can ensure that when you or your loved ones die,
that the correct people as benefactors are taken care of
and that your wishes are clear to all. It can also make things
simpler for those you have left behind.
A Will covers everything from what you leave to family and
friends, to whether you would like to remember a charity
such as ours and even your funeral arrangements.
Problems can arise if you don’t make a Will. Not least, in the
absence of a Will, the Government will decide how to share
your estate. They may not do so in a way you feel is fair, or
in line with your values and beliefs.
What if I want to change
my Will at a later date?
If the change is simple, this can be done with something
called a Codicil - a legally binding document used to amend
or update a Will.
For more complicated changes a new Will may be necessary.
Do I need to use specific wording?
We always recommend speaking to a legal adviser when
making or amending a Will, depending on the type of gift
you want to leave.
Whatever type of gift you choose, your legal
advisor will also need to know our full name:
Volleyball England Foundation
3 Oakwood Drive
SportsPark
Loughborough LE11 3QF
Charity number 1138864.
Who can be an Executor of a Will?
Anyone can be appointed as an Executor including a relative,
friend or legal adviser. Please contact us if you would like to
discuss this topic.
Should I tell you that I’ve left
you a gift?
If we know whether you intend to remember us in your Will,
we can plan better for the future.
Let us know by contacting our company secretary at
secretary@volleyballenglandfoundation.org
What is Inheritance Tax?
Generally, Inheritance Tax is paid if a person’s estate is worth
more than £325,000 when they die. The latest threshold will
need to be taken into account. This is called the ‘Inheritance
Tax threshold’. However, most gifts to charity in Wills aren’t
subject to Inheritance Tax. Please liaise with your chosen
solicitors on this matter.
Some people see it as a useful way of bringing their estate
under the inheritance tax threshold to make a Gift to a charity,
like Volleyball England Foundation.
In the 2020/21 tax year, everyone is allowed to leave an estate
valued at up to £325,000 plus the new ‘main residence’ band
of £175,000 giving a total allowance of £500,000 per person.
For estates worth less than this, beneficiaries won’t pay
inheritance tax.
YOUR WILL NEXT STEP
5. 8 9
How do I choose a Solicitor?
The cost of legal services can vary, We recommend you seek
legal advice to ensure your Will carries out your wishes and
all the legal formalities are complied with.
The Volleyball England Foundation has secured a panel of
Solicitors that can prepare your Will on a cost-effective basis.
Naturally, we cannot recommend a Firm, and you should
conduct your own enquiries to feel that they are suited to you.
Our Directors and Trustees have working knowledge of
any solicitors named that may be provided to you and it
should be declared that we will receive an introducers fee
by way of a charitable donation to the Foundation if you
choose to use them.
We have prepared this simple diagram to reinforce next steps:
Step One
Prepare a list of your ‘belongings’. Things in
your ownership often referred to as assets.
It is sensible to list your assets. A Partner, Family member
or trusted friend might be useful to compile an inventory
and perhaps estimate their respective values.
Your chosen solicitor can assist. Typical items might
include: property, house contents, shares, savings and
other items of value you may own. Include anything owed
to you so these items are not forgotten in your ‘Estate’.
Step Two
If there are any ‘debts’ remaining
or things owed record those.
Create an inventory or list of anything that you owe.
This might include: remaining mortgage, loans, bills etc.
These may be deducted from the true value of your Estate.
NEXT STEP (cont’d) NEXT STEP (cont’d)
6. 10
Step Three
Decide who you would like to benefit and how.
Make a list of the people and organisations – such as the
charities that could include Volleyball England Foundation.
These will be the ‘Benefactors’. Your Will will be the document
that validates these and any percentages, amounts or items.
Step Four
Name your choice of Executors
and choose Solicitors.
An ‘Executor’ is the person you choose to action your Will,
to ensure your wishes are met. Most people choose their
solicitor and/or trusted family members as executors.
Step Five
Place it in a safe place and
let it known where it is held.
Your Will is naturally an important document.
Most people prefer to leave it with solicitor
and retain an own copy in a safe place.
Think carefully before this important decision.
Please remember that we are here to help you.
NEXT STEP (cont’d)
7. CELEBRATING THE
SPORT OF VOLLEYBALL
PAST / PRESENT / FUTURE
Where there’s a
WILL there’s a way
Volleyball England Foundation
3 Oakwood Drive
Sports Park
Loughborough
LE11 3QF
Charity number 1138864.
secretary@volleyballenglandfoundation.org