to our website, firstly, please may we ask you to consider making
a donation or legacy to Royal Marines Charities? Even if you don't
wish to help us at this stage, please read on as this appeal contains
important and useful information on making a will.
This is a special appeal for legacies or donations on behalf of
the Royal Marines Benevolent Fund. The Fund was formed in April
1998 following advice from the Charity Commission to amalgamate
charities with similar trusts. Further details concerning the Fund
can be found below.
During the last financial year 00/01 the Royal Marines Benevolent
Fund has helped to relieve distress and hardship for many, some
examples of assistance are:
The Welfare Fund made grants totalling £52,975 for a wide
range of needs including food vouchers, powered wheelchairs, clothing,
respite holidays, spectacles and replacement windows.
The Upton Kelly ring fenced budget made grants in excess of £19,259
to assist officers and their dependants.
The Tercentenary Relief Fund paid out £22,000 to dependants
to help alleviate initial financial pressure resulting from the
8 in- service deaths that occurred last year.
The Band Benevolent Fund made 31 grants to ex members of the Band
Service totalling £6,270.
Please read on to see how you can help those less fortunate than
yourself by including a Royal Marines charity in your will.
ROYAL MARINES BENEVOLENT FUND
The Royal Marines Benevolent Fund's principal purpose is to benefit
persons who are serving or who have served in the Royal Marines,
or their dependants, to relieve need, hardship or distress. The
Fund was formed in 1997 and subsumed the following funds and their
The Upton Kelly Memorial Fund. The aim of the fund is to relieve
distress or necessity amongst officers who have served in the Royal
Marines, officers' widows, and their dependants.
Royal Marines Tercentenary Relief Fund. The purpose of this fund
is to provide on death, from any causes, for either serving Royal
Marines, or a Reservist on duty, a sum of money for the widow or
recorded next of kin to relieve initial financial problems. The
sum of money authorised may be altered from time to time by the
Trustees; the grant is currently £2,750.
Royal Marines Welfare Fund. The income to this fund may be used
to relieve distress amongst serving and retired Warrant Officers,
non-commissioned officers and men of the Royal Marines, their widows
Royal Marines Band Benevolent Fund. The fund is used to relieve
needy or distressed, serving or retired RM Band Service ranks or
their dependants. The income is derived from donations, dividends
WHY A WILL IS SO IMPORTANT
Making a will is one of the most important acts in your life. Without
a will, the law will decide what happens to your estate (everything
you own when you die). This may cause distress and heartache to
those you love and value most: your family and dearest friends and
it will take longer to prove the will.
IS YOUR WILL VALID?
Do not risk making a mistake - take professional advice. A straightforward
will prepared by a solicitor, or professional will writer, should
not be expensive, especially when compared to the value of your
estate. A will may be declared invalid if it does not contain the
appointment of at least one executor and/or has not been signed
and dated by you in the presence of two witnesses who must also
sign the will. Witnesses do not need to know the contents of your
will but ought not themselves be beneficiaries, since being a witness
could invalidate any gift bequeathed to them.
A new will can be made at any time, but for minor alterations,
such as leaving a bequest to the Royal Marines Benevolent Fund.
It may be cheaper and simpler to add a codicil, which again should
be made with the help of your solicitor or qualified legal adviser.
HELP CHARITY AND SAVE TAX
Capital Gains Tax
Any charity receiving a residuary bequest can avoid liability for
Capital Gains Tax by simply instructing the Executors in writing
to sell as Bare Trustees on their behalf assets first appropriated
to them in book form (i.e. stocks and shares). By this means any
profits arising on those assets between death and disposal will
pass untaxed to the charity concerned.
Inheritance Tax In addition to a surviving spouse, registered charities
are completely exempt from Inheritance Tax and its predecessor Capital
Transfer Tax. Consequently if the tax-free portion of an estate
is left to relatives and friends and the remainder goes to charity,
the entire estate becomes tax-free irrespective of size. Even where
the personal bequests exceed the tax-free limit, substantial savings
can still be made by leaving the balance to charity, who will benefit
from the 40p in every £1 which would otherwise go to the exchequer.
For the financial year at present the first £234,000 of any
taxable estate is free of tax. with any excess being taxed at a
flat rate of 40% if it does not pass to a surviving husband, wife
or registered charity. (figures correct as at 1.4.00)
This is reclaimable at the standard rate by charities that receive
taxed income as part of their inheritance under a Will. Claims have
to be submitted to the Inland Revenue by charities on Forms R185E
or equivalent prepared by the Executors for each financial year
involved. This does not apply for instance to Building Society interest
earned between the date of death of a life tenant and the winding
up of a Trust.
HOW TO REMEMBER US IN YOUR WILL
The Trustees of the Royal Marines Benevolent Fund are deeply grateful
for bequests of all kind in order that the Fund an continue to provide
grants to benefit persons who are serving or who have served in
the Royal Marines, or their dependants, to relieve need, hardship
or distress. The Trustees would like to take this opportunity to
suggest the following wording for inclusion in your Will, depending
on your particular wishes and circumstances.
"Subject as aforesaid I give, devise and bequeath to The Royal
Marines Benevolent Fund, the whole (or a ............share) of my
residuary estate for its general charitable purposes and I declare
that the receipt of a Treasurer or other proper of officer shall
be sufficient discharge thereof "Pecuniary Legacy
"I give and bequeath to the Royal Marines Benevolent Fund,
the sum of £ ................. for its general charitable
purpose and declare that the receipt of a Treasurer or other proper
officer shall be sufficient discharge thereof."Conditional
"In the event of my brother (or other named relative or friend
etc) predeceasing me I give and bequeath to The Royal Marines Benevolent
Fund, the whole (or a ................ share) of my residuary estate
for its general charitable purposes and I declare that the receipt
of a Treasurer or other proper officer shall be sufficient discharge
thereof. "Reversionary Bequest
"On the death of my son (or other named relative or friend)
I give and bequeath to The Royal Marines Benevolent Fund the whole
(or a .............. share) of my residuary estate for its general
charitable purposes and declare that the receipt of a Treasurer
or other proper officer shall be sufficient discharge thereof. "For
any further information or advice please do not hesitate to contact
the RM Assistant Corps Secretary, HMS EXCELLENT, Whale Island, Portsmouth,
Hampshire P02 8ER Telephone (023) 9254 7201 e-mail [email protected]