LEAVE THE LEGACY OF A BRIGHT FUTURE FOR BRADFIELD
The 1850 Society was established to provide a focus for those who, through, their kindness and generosity, have chosen to remember Bradfield College in their Will. Importantly, it gives us the opportunity to say thank you.
The Society is not exclusively for those who have made the pledge, it is very much a place for their families as well, recognising the importance of the family to the individual and the wider contribution that the family is making for the benefit of the College.
In addition to the standing invitation to Bradfield Society events, members of the 1850 Society and their families are invited each year to a dedicated gathering hosted by the College. The format and focus of these events will change each year, so there is always a good reason to attend.
If you are happy for us to recognise your kindness, we would be delighted to welcome you to join the 1850 Society.
OTHER USEFUL INFORMATION
How Legacy Donations reduce your Inheritance Tax liability
Not only is your legacy pledge hugely important to the College, but it is also advantageous to you from a tax perspective.
HMRC guidance states that your donation will either:
- be taken off the value of your estate before Inheritance Tax is calculated
- reduce your Inheritance Tax rate, if more than 10% of your estate is left to charity
You can donate:
- a fixed amount
- an item
- what’s left after other gifts have been given out
For a worked example of what this could mean for you, please refer to Cutting your Inheritance Tax bill by the Money Advice Service.
‘I leave to The Bradfield Foundation of Bradfield College, Bradfield, Berkshire, RG7 6AU (Charity No, 900457), £ (cash amount), or % of my residuary estate or property (please specify) … On realisation of the bequest a receipt from the Bursar or other authorised officer shall be sufficient discharge for my Executors.’
JARGON BUSTER - WHAT TYPE OF LEGACY TO LEAVE
A gift may take form of a residuary, pecuniary or specific legacy, which may include a monetary gift, buildings, shares, land or other property. Your legal and tax advisors will be able to recommend the best way to formulate your request.
The residue of your estate is the value remaining once all pecuniary legacies, debts, fees and other charges have been met. You might decide to leave the entirety or part of the residue to Bradfield College. The advantage of a residuary bequest is that its value is unaffected by inflation.
A gift of a fixed sum of money. The value of the gift may reduce over the years because of inflation. You might want to consider index linking the sum so that the value of the bequest remains as you originally intended. You may like to consider setting aside a percentage of your estate rather than a fixed sum.
A legacy need not be in the form of money. You may wish, instead, to leave specific assets, such as property stocks and shares, works of art or other valuables. Please let the Development Office know any specific intentions attached to your gift as the College may otherwise sell such non-financial gifts and use the proceeds as necessary.
A gift that enables you to provide for your family or friends and to benefit the College. It involves leaving assets to a chosen beneficiary to benefit them during their lifetime, with the whole or a portion reverting to the College upon their death.
In Memoriam Gifts
An immediate gift that can set up a Fund in remembrance of a loved one. Many individuals have established In Memoriam funds to provide bursaries and prizes or have provided a bench or tree for the College campus. Please talk to Michelle or Katie for further information regarding In Memoriam giving.