The Future Fund
Why is it important to make a will?
Making a will remains the most effective way of ensure that your loved ones are cared for after you die. It is estimated that almost two thirds of UK adults between the age of 18 and 50 do not have a valid will.
Dying intestate (without a will) can be deeply upsetting for your loved ones to experience as your estate (everything you own when you die) will be divided in accordance with law, rather than your own wishes. We advise taking control of things as early as possible.
Do you have to be a particular age or have assets totalling a particular value to make a will?
Unless you are a soldier on active duty, or a sailor at sea, you must be 18 years of age to write a will if living in England or Wales. If living in Northern Ireland you must be 13 and in Scotland aged 12.
There is a misconception that wills are only for wealthy people. It is irrelevant how much you own. It’s important to outline who you would like to inherit your estate (your belongings, house, savings etc.) when you die.
Is it possible to remember the Labour Party in my will?
Yes, it is possible to remember any political party in your will as long as at the last general election it had either at least two MPs in the House of Commons, or one MP and received at least 150,000 votes.
Do I have to be a Labour Party member to contribute to the Future Fund?
The party gladly accepts gifts from members and non-members who feel passionately about the Party’s work.
If I choose to remember the party in this way, will my loved ones have to pay inheritance tax on my gift when I die?
No. A future gift left to the Labour Party, alongside any gifts you should make to charitable causes will be gifted from your estate before inheritance tax is calculated.
If I make a will using Bequeathed, is it compulsory to pledge a future gift to the party?
Whilst we encourage members and supporters to consider pledging a future gift, you are not obliged to pledge a future gift in order to utilise this service. Please ensure your loved ones are properly cared for before sparing a thought for the causes you care about.
If I decide to pledge a gift, is there a minimum gift or a maximum gift amount I am able to donate?
There isn’t. The Labour Party values every single future gift, irrespective of gift value. We are extremely proud that the Labour Party attracts members and supporters from all different walks of life, therefore it is understandable that people’s contributions will differ, depending on their own unique personal and financial circumstances.
We kindly ask members to give whatever amount feels right for them. You should be able to give this gift to the party comfortably without your loved ones having to go without. We encourage members and supporters to have conversations with close family members where possible.
Would you rather I left a residuary or a pecuniary gift?
Residuary gifts keep and even have the ability to increase in value over time. That said, the Labour Party does not have a preference and respects both types of gifts equally.
Are there any particular types of specific gifts the Party might refuse?
The Party has received a number of specific gifts over the years, such as pieces of art. Before pledging a specific gift, please speak with a member of the fundraising team. Either they or the Party’s internal Business Advisory Board will be able to advise whether the specific gift you intend to gift will be of benefit to us and our future work.
In the event that we cannot accept your gift, the fundraising team will endeavour to connect you with someone who can assist you. They will discuss the preferred option of making a monetary future gift.
Is Bequeathed a free wills service?
Yes. Bequeathed is a UK registered company who offer a free online will writing and will storage service. Each Labour Party member or supporter is entitled to a free 30-minute telephone consultation with the law partner allocated to write that person’s will.
For most people, a 30-minute consultation will be long enough to ensure that your will fulfils your wishes. If you have complex family circumstances, multiple properties, business assets or foreign property, you will require additional advice. Where that is the case, a Bequeathed law partner will provide you with a quote. It’s up to you whether you wish to accept.
I am a member of a Union/a Royal College/am an NHS employee with access to a free/discounted will service. Can I use this service or must I used Bequeathed, in order to pledge a future gift?
You can use whichever free/discounted will service you feel most comfortable using. If you’d rather visit a solicitor in person there will be a fee associated with this, so it’s important to shop around. Most unions and employers offer discounted/ free will-writing services.
Should you decide to write your will with a law partner your Union or employer has recommended with, you can still choose to remember the Labour Party in your will. Simply let your solicitor know that you wish to do this and which type of gift you wish to make. If you are in this situation, page 6 of the Free Wills Guide may be particularly useful to you. You can also put your solicitor in touch with the Party’s fundraising team at any time.
Is it possible to bequeath company shares to the Party in my will?
Absolutely. The party has accepted such gifts in the past. If you are considering doing this, please email the fundraising team: [email protected].
If I pledge a future gift, is it compulsory to join the Future Fund Supporter’s Programme?
Not at all. Becoming a Future Fund Supporter is entirely optional. It is still really important however that you inform the fundraising team when you have chosen to support the Future Fund in your will. Knowing this will enable us to plan ahead, with your future gift in mind.
Do I have to let the party know if I decide to write The Labour Party out of my Will?
The Labour Party understands that a member’s/supporter’s personal and financial circumstances may change over time and that this may affect their ability to pledge a future gift. It is entirely up to you whether you feel comfortable communicating this to the fundraising team. Doing so however, would be useful for administrative purposes and if you are a member of the Future Fund Supporter Programme.
Can I split my gift? For instance, leave 50% to the national Party and 50% to my Region or CLP?
You may support the Labour Party in whichever way you choose, but please be mindful that what your region or CLP requires today, may not be relevant in 10+ years’ time. Leaving a future gift to the national party to be used for general purposes is one of the most effective ways of ensuring that your gift is channelled to where it is needed most.
Are there any instances whereby my gift may be deemed impermissible?
You will need to be on the UK Electoral register at your time of death and have been on the register for at least 5 years prior to this. Please make sure that you update your address, whenever you move house.
I wish to leave a residuary gift to the national Labour Party which will likely exceed £7,500; however, I wish to pledge this gift anonymously.
Every UK political party is governed by The Political Parties, Elections and Referendums Act, 2000. This piece of legislation makes it compulsory for all gifts over the value of £7,500 (including future gifts) to be reported to and published by The Electoral Commission. Therefore it wouldn’t be possible in this situation to make a gift anonymously.
Can I support the Future Fund from overseas?
It depends. If you live permanently abroad and are not registered to vote in the UK at a UK address, accepting a future gift from you won’t be possible. If you are a British citizen, you can discover more about overseas voter registration here: (https://www.gov.uk/voting-when-abroad)
I am a relative or carer and wish to raise concern about an elderly and, or, vulnerable person who has recently chosen to remember the Labour Party in their will.
Firstly, if the person you are concerned about is in any immediate danger, please call 999. If your query however is non- life – threatening, review the information on Safeguarding and report any concerns via: https://labour.org.uk/safeguarding/
Please click here to review The Party’s Adults at Risk Policy.
I am an executor/ close family member/ friend who wishes to make a gift to the Party, in memory of a Labour Party member or supporter.
Thank you. It is extremely kind of you to choose to celebrate your loved one/ friend’s life in this way. To process your in-memory gift, please email [email protected].
If your loved one has recently passed away, you may also wish to support the party via a funeral collection. For more information, please email [email protected].