Is it possible to leave a gift in my Will for a specific campaign or region?
We can never predict when the next by-election will be, or which region will need the most campaign support, so your legacy gift will have the biggest impact if it is made unconditionally.
We always make 10% of unconditional gifts available to your local party.
But if you would like to talk to us about funding a specific region or project, please email us at legacy@libdems.org.uk or request a phone call here.
Glossary of Terms
Administrator – A person appointed by law to finalise your affairs if you die without leaving a Will.
Assets – Total resources in your estate e.g. value of property and bank accounts.
Beneficiary – A person or charity who benefits from a gift in your Will.
Bequest/Legacy – A gift in your Will.
Codicil – A document to amend an existing Will.
Estate – Total sum of all your possessions.
Executor - The person appointed to carry out the wishes of your Will. Executors can be beneficiaries.
Inheritance Tax – The tax on your estate if worth over a certain amount - £325,000 (April 2015). Inheritance tax is set at 40% (April 2015) A gift in your will to the Lib Dems will be tax efficient, as gifts to a recognised political party are deducted from your estate before inheritance tax is calculated. More information can be found on the HMRC website.
Intestacy – Dying without having left a Will.
Liabilities – Debts against the estate e.g. mortgage payments.
Pecuniary Legacy – This is a fixed sum of money that can be large or small and given as a gift to a beneficiary.
Probate - Certificate issued by a court that the will of a deceased is legally valid, and that the executors appointed under the will are authorized to administer the estate, once given the assets of a deceased can then be properly distributed.
Residuary Legacy – This is a percentage of your estate once outgoings have been dealt with (it can be as small as 1% or as large as 100%) and is given after all taxes, costs and other gifts.
Residue - The sum left from an estate when all debts, charges and gifts are deducted.
Reversionary Legacy – A gift in a Will that reverts to another beneficiary when the original beneficiary dies.
Specific Legacy – A gift of a particular item in your Will.
Testator (male) or testatrix (female) – The person who is making the Will.
Trust – A provision you can put in your Will to treat part of your assets in a particular way after your death.
Will – A document in which a person specifies the method to be applied in the management and distribution of their estate after death.
Witness – A witness to your signature on your Will. A witness cannot be a beneficiary.
Get in touch
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Email us
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Talk to our Legacy Team
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Write or amend your will for free