By leaving a gift in your Will you will be enabling RES to build a stronger and more vibrant economics community. You will be supporting the next generation of economists and their capability to find the solutions to the most pressing global challenges we face. Your gift will ensure economics continues to attract the brightest minds, from all backgrounds, and is an inspiring and inclusive place to work and study.
To make a gift in your Will, you may need either to create a new Will, or add a Codicil to your present Will. A Codicil is a legal document that adds to or changes an existing Will.
If you have any questions about leaving a gift to the Society in your Will, please contact Leighton Chipperfield, Chief Executive at L.Chipperfield@res.org.uk.
We strongly suggest that you contact a solicitor or a member of the Institute of Professional Willwriters (IPW) to write or amend your Will. They will be able to provide the best advice on the type of legacy you would like to give and on the correct wording.
Please ensure that any legacy to us includes our full name ‘Royal Economic Society’, and ‘Registered Charity Number 231508’ as this will avoid any doubt about our identity. If you wish, you can also include our current address ‘2 Dean Trench St, London, SW1P 3HE’.
There are three main types of gift.
Examples of the wording that could be used for both Pecuniary legacies and Specific legacies are below. We strongly recommend that you seek legal advice for the wording that you would need to use for a Residuary legacy.
I GIVE:-
£ [insert amount in numbers] ([insert amount in words] pounds) to the Royal Economic Society (Registered Charity Number 231508) of 2 Dean Trench St, London, SW1P 3HE.
AND I DIRECT that
The receipt of the person holds the position of Honorary Treasurer or other proper office for the time being of the above mentioned charity shall be a complete discharge to my Executors.
If, before my death the above mentioned charity has changed its name or amalgamated with, or transferred all its assets to any other body, then my Executors shall give effect to the gift as if it has been made to the body in its changed name or to the body which results from the amalgamation or to which the transfer has been made.
The wording above could be used in a Will or Codicil. If you are updating an existing Will you can choose either to make a completely new Will, or a Codicil which would set out changes to your existing Will and will be read alongside it.
I GIVE:-
[Insert description of the item] to the Royal Economic Society (Registered Charity Number 231508) of 2 Dean Trench St, London, SW1P 3HE to be applied for its general purposes.
AND I DIRECT that
The receipt of the person holds the position of Honorary Treasurer or other proper office for the time being of the above mentioned charity shall be a complete discharge to my Executors.
If, before my death the above mentioned charity has changed its name or amalgamated with, or transferred all its assets to any other body, then my Executors shall give effect to the gift as if it has been made to the body in its changed name or to the body which results from the amalgamation or to which the transfer has been made.
The wording above could be used in a Will or Codicil. If you are updating an existing Will you can choose either to make a completely new Will, or a Codicil which would set out changes to your existing Will and will be read alongside it.
Your solicitor or member of the Institute of Professional Willwriters would be able to provide more detailed advice on these types of bequest and recommend wording for a residuary legacy.
A conditional legacy can be made to cover the eventuality that you outlive all your named dependants, in which case the legacy is made to charity rather than them. A life interest (reversionary) trust can be made so that your named dependants benefit during their lifetime, either by using the asset or getting the income from it, with the charity receiving the asset after they have died.
Your solicitor or member of the Institute of Professional Willwriters would be able to provide more detailed advice on these types of bequest.
