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Create a lasting impact on future generations of Bradfieldians
Bradfield views the gift of a legacy as something very special indeed and as Legators, we are united in the belief that Bradfield has had a positive impact on our lives and would in turn like to support Bradfield and the next generation of Bradfieldians.
If you have a place for Bradfield in your heart and would like it to continue to succeed and produce pupils who make a positive contribution to society, please join me and leave a gift in your Will to Bradfield.
Dr David Wright, MBE (E 48-53), President of the 1850 Society
BENEFITS OF LEAVING A GIFT IN YOUR WILL
We understand that family responsibilities and the rising cost of living are front of mind when considering charitable giving. Leaving a gift in your will to Bradfield is a deeply personal and meaningful way to support the College’s future. Naturally, caring for loved ones comes first in any estate planning but including a legacy gift to charity can also help reduce inheritance tax, easing the financial impact on those closest to you. Did you know that as a registered charity, a gift to Bradfield College in your Will is exempt from inheritance tax? Some of our legators leave just 1% of their residual estate meaning their loved ones still receive 99%. Gifts in Wills can also reduce your overall IHT bill – always seek legal advice.
GIVE THE GIFT OF A BRADFIELD EDUCATION…
… by making a gift in your Will to the 175 Bursary Campaign
‘I didn’t know places like Bradfield existed. A bursary gave me more than just an education, it gave me confidence, opportunity and a second family.’
Danail Mihaylov (D 23-25)
Alternatively you could make a gift toward Campus Development, including initiatives such as the recently completed St Andrew’s Project, or you may prefer the College to decide, in which case there is the option to leave an unrestricted gift.
HOW WE RECOGNISE YOUR GIFT
The 1850 Society has been established as a means by which we can thank those who have left a gift in their will to the Foundation or made a transformative donation to our Bursary Fund. By confirming to The Bradfield Society and Foundation Office that you have made a bequest to the School, you will automatically become a member of The 1850 Society.
Members will receive invitations to College and Foundation events, as well as specific 1850 Society events, and should they wish to, be recognised on our 1850 Society Donor Wall.
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.
EXAMPLE WORDING
‘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.
Residuary Legacy
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.
Pecuniary Legacy
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.
Specific Legacy
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.
Reversionary Legacy
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.
