As a registered Charity, Haileybury is always grateful for ongoing support from those who like to make a contribution to what they feel inspired their or their children's time at Haileybury. We have received some most splendid and enormously endearing gifts over time.
By leaving a legacy to Haileybury, you will make a difference to the lives of many future young people. Previous legacies have supported arts, music, sport as well as our capital campaigns.
It is simple to leave a legacy to Haileybury in your Will. It can be included in your Will or, if you have already made a Will, you can make a simple addition to it by a codicil.
Download our legacies guide or browse these pages for further information.
What are the different types of legacies?
There are four main types of legacy, briefly outlined here. Your legal adviser will be able to give you more detailed advice.
This is a simple legacy of a specified sum of money. You can make this type of gift inflation proof. According to the Office for National Statistics, a gift of £1,000 written into a Will in January 1987 was worth only £469 by December 2008. You can maintain the value of your legacy by linking it to the Retail Price Index or setting aside a percentage of your estate for Haileybury.
The residue of your estate is the value remaining once all pecuniary legacies, debts, fees and other charges have been met. You may decide to leave the whole or a percentage of the residue to Haileybury. It is more flexible than a Pecuniary Legacy, in that you need neither quantify the sum to be left nor take inflation into account when you draw up the Will.
A legacy need not be in the form of money. You can leave specific assets such as property, stocks and shares, works of art or other valuables.
This is a legacy which is given in trust to provide for someone for the rest of their lifetime, following which it passes to the charity. For example, you can leave the income from your estate (or the right to live in a house) to your spouse or other named beneficiary. They will have the benefit of this during their lifetime, and following their death, the assets will pass to Haileybury.
If you wish, we can help you before you visit your legal adviser or you could show your legal adviser this information and tell him or her what you think you want for your Will.
Of course, we cannot write your Will, but we can expand upon information provided here to try to ensure that your legacy meets your wishes.
We have samples of specimen wording for the four usual types of legacy which we would be glad to send to you and/or your legal adviser.
The specific wording for each type of legacy varies but whatever the form of gift, the preferred wording to include is “………to Haileybury and Imperial Service College (Registered Charity No. 310013) for its general purposes. The receipt of the Bursar of the College shall be a good discharge to my executors”.
To put it simply, Inheritance Tax at 40% is usually payable following your death once your estate exceeds a certain amount unless it passes to your spouse or it passes to a charity.
Haileybury is a registered charity - Haileybury and Imperial Service College, Registered Charity No. 310013.
There will be no inheritance tax on legacies you leave to Haileybury. They will reduce the value of your estate liable to inheritance tax.
You may choose to bring forward your legacy and to make lifetime gifts so that you can see the benefits during your lifetime. Again, because Haileybury is a registered charity, it would not pay tax on a lifetime donation and you should be able to offset the donation against your own taxable income or gains.
A gift or legacy designated for the general purposes of Haileybury is the most useful type of gift as it enables Haileybury to be flexible in its response to changing circumstances and to meet the most pressing needs at the time.
But legacies for specific purposes are, of course, very welcome. You can specify what you would like the legacy to be used for. You may wish to support scholarships or bursaries or to help finance building developments, equipment or facilities for students.
As the needs of the College change over time, it is often preferable to avoid stipulating a very specific purpose but to express a non-binding preference which Haileybury will try to abide by if at all possible. Alternatively you could provide in your Will that if the specific purpose cannot be implemented, Haileybury may use the legacy in a similar area or where there is other urgent need.
A response form is available for you to download. It would help us greatly if you could complete and send this to us. By doing so, we are able to thank you for your kindness and it will help us :-
By declaring a legacy you will be invited to join our elite Benefactors' Club, the membership of which includes our major donors, patrons and those who have declared a legacy pledge.
We are happy to discuss your requirements with you and to provide you with as much information as we can to ensure your legacy meets your wishes. Please contact:
The Development Office