For those who valued their time at St Paul’s, a legacy is a way of giving something back as well as being a means of providing opportunities for the next generation of Paulinas. We welcome your help for all aspects of development including bursaries, the endowment, buildings or an unrestricted bequest. If you have a particular interest we would be delighted to discuss this with you.
Leaving a legacy could be a tax efficient way to support charitable organisations and we recommend in all instances that you discuss your options with your solicitor. As a registered charity all legacies to St Paul’s Girls’ School are exempt from Inheritance Tax. In addition to fulfilling a philanthropic desire, donors leaving a legacy to St Paul’s could reduce their Inheritance Tax from 40% to 36%. The table illustrates the difference and demonstrates how a £50,000 gift on a £500,000 estate might be realised.
There are many ways to support St Paul’s Girls’ School in your will. You can leave an exact sum of money (a pecuniary bequest), the balance of your estate (a residuary bequest), some particular possessions (a specific bequest), a gift to pass to us after another named recipient has enjoyed the income during their lifetime (a reversionary bequest) or a gift to pass to us if none of your named beneficiaries survive you (a conditional bequest).
If you would like to remember us in your will, we recommend that you consult a solicitor, who will be able to advise you about all the issues you should consider and will ensure the new will or codicil have the effect you intend, and you may wish to use the below wording in your will or in a codicil document.
“I give free of tax to St Paul’s Girls’ School (charity registration number 1119613) the sum of £______________ (______________ pounds) to be used for the benefit of the school’s bursary fund or for the benefit of other charitable purpose in connection with St Paul’s Girls’ School and I declare that the receipt of the director of resources or other proper officer shall be complete discharge therefor.”
To discuss legacies in more detail and find out about our current projects, please speak to Rosemary Torrington (020 7605 4814) in the development office.