Wills & Legacies
Prospex receives no government funding and we are entirely reliant upon the generosity of our kind supporters.
This generosity enables us to continue the invaluable work we provide young people in our community. Ensuring that the disadvantaged and vulnerable are given the best opportunities to reach their full potential.
This can only be made possible thanks to the generosity of people leaving us a gift in their Will.
Your act of kindness is literally a gift of life to hundreds, of vulnerable young people that tragically might otherwise take a different direction in life. It will cost you nothing in your lifetime but from £100 to £100,000, every donation to Prospex is greatly appreciated and can help change a young persons life.
Whether it's helping to provide a new Street Team or providing regular Youth Hub, every legacy we receive is extremely important to us.
Find out more
Please click on the link below for further information about leaving a gift in your Will. Alternatively, if you would prefer to talk to someone in confidence, please call James on 020 7607 7626, e-mail us at firstname.lastname@example.org or write to us at Prospex, The Community Centre, 76 Parkhurst Road, Holloway London, N7 0FF.
Will making & Codicils
Making a Will, or adding a codicil to your existing Will is the only way to ensure that those you love will be taken care of, including charities like Prospex. If you have no immediate family, having an up to date Will allows you to make sure that your money benefits the people or causes that you really care about.
What you need to know
Making your Will is easier than you may think;
Firstly, start by listing everything you could include in a Will including property, money and other assets.
Then you must decide who you want to benefit from your Will (including Prospex if you wish), and make a list of their names and addresses.
Decide who you wish to be executors of your Will. It is usual to have two executors, in case one isn't able when the time comes. They are usually family members or a professional advisor such as a solicitor. If you wish, the Chair of Prospex can act as a co-executor of your Will.
Take all of these details along to the solicitor, who will draw up a Will for you. We strongly advise that you do not attempt to 'do it yourself'. A 'home-made' Will can often lead to trouble as it may be ruled invalid by the courts if it fails to meet all legal requirements.
Already made a Will?
Many people make a Will and assume that's all they need to do. However, circumstances can change over the years and so it is always advisable to take a fresh look at your Will every few years to ensure it meets your current needs.
Changing your Will
If you have already made your Will and decide that you would like to add a gift to Prospex, a codicil is a good, inexpensive way to do so. Adding a codicil to your Will enables you to leave a legacy to Prospex whilst ensuring that the other provisions remain untouched and you won't have to pay for your Will to be completely rewritten.
Types of legacies and suggested wording
Types of Legacies
If you would like to remember Prospex in your Will, there are three main types of gift you can make:
Residuary Gift - is the gift of all (or part) of the value of your estate after debts, liabilities and other legacies have been paid and is the most valuable kind of legacy to Prospex.
Pecuniary Gift - is the gift of a particular sum of money.
Specific - is the gift of a specified item that could be for example; property, a painting or a piece of jewellery.
Suggested wording for a gift in your Will
If you would like to leave Prospex a gift in your Will the following wording may be helpful when you visit your legal advisor:
"I give all (or a _% share of) the residue of my estate to Prospex (Registered Charity Numbers: 1087591), The Community Centre, 76 Parkhurst Road, Holloway, London, N7 0FF, for its general charitable purposes and I direct that the receipt of the Treasurer or duly authorised officer shall be a valid and appropriate form of discharge."
Suggested wording for a codicil to Prospex:
If you have already made your Will and decide that you would like to add a gift to Prospex, the following wording for a codicil may be helpful when you visit your legal advisor:
"I (name) of (address) declare this to be my first codicil to my last Will dated (date). I give (details of legacy) to Prospex, Registered Charity Numbers:10875913, The Community Centre, 76 Parkhurst Road, Holloway, London, N7 0FF, for its general charitable purposes and I direct that the Treasurer or duly authorised officer shall be valid and appropriate form of discharge. In all other respects I confirm my Will."
We'd like to thank you
If you have already included a gift in your Will to Prospex, or intend to in the future, we would love to hear from you. Not only will this information allow us to plan for the future but more importantly it means that we can pass on our heartfelt thanks for your generous pledge. Your kind support will allow your passion for young people to live on and build positive lives long into the future.