Leaving a legacy in your will
It is both useful and encouraging if we know when someone has included us in their legacy so if you do decided to give to Guhyaloka in this way please let us know by completing the contact form at the bottom of this page.
We strongly advise using the services of a solicitor who can give you unbiased advice. Most people use a solicitor or will writer. In the UK, solicitors who are members of the Law Society and will writers who are members of The Society of Will Writers or The Institute of Professional Will Writers, will be fully qualified in making wills. You may want to write your will with Satyadasa at Greengate Wills. Satyadasa is a member of the Society of Will Writers, a non-practicising solicitor, and fully insured to write wills.
Although Guhyaloka is in Spain the main body that receives donations is The Guhyaloka Trust which is based in the UK. Funds are then transferred to Guhyaloka in Spain as and when needed.
You need to include our name The Guhyaloka Trust, address Adhisthana, Coddington Court, Ledbury, HR8 1JL, and our Charity Registration Number 803469. By writing that your gift is for “the general charitable purposes” of the Guhyaloka Trust and adding “but without imposing a binding trust” you will allow the Trustees to decide how best to use it at the time is received – if this is indeed what you want to do.
The best way to ensure that your gift retains its value and keeps up with inflation is to make a Residuary Gift. This can be all, or a percentage, of the value of your estate. In this way you can be confident that the Guhyaloka Trust will receive the proportion of your estate that you wanted to give. The suggested wording would be“I give the whole/a X% share of the residue of my estate to the Guhyaloka Trust (Charity Registration Number 803469), to be used for its general charitable purposes, and I declare that the receipt of the Honorary Treasurer or other duly authorised officer shall be a full and sufficient discharge to my Executors.”:You could leave a fixed sum of money e.g. £1000. This is known as a Pecuniary Gift. You should be aware however that your gift would become less valuable over time.
You can leave Guhyaloka Trust a percentage of other assets e.g. property or land. The wording would be the same except that you specify the gift rather than the sum of money.
You can change your will at any time. You can make a change or addition by making a codicil. This simple document must be drawn up and witnessed in the same way as the original will.
It is a good idea to talk about your plans with family and friends. You will need to choose two people to be the executors of your will. They will be responsible for ensuring your wishes are carried out. You will need to check that they are happy to take on this responsibility.
As a charity, Guhyaloka Trust won’t have to pay tax on the money you leave us. But if your estate is worth more than the current allowance your family and friends will have to pay inheritance tax on any gift you leave them. You may want to weight your will so that the post-tax distribution is as you want it to be. A solicitor or will writer will be able to help with this.
You must sign the will, and this signature needs to be witnessed by two independent adult witnesses who are present at the same time, and who are not beneficiaries or married to beneficiaries. It is important to remember that a trustee or employee of Guhyaloka Trust must not act as a witness as this might invalidate the will.
If you have any further questions then please contact us.