WHY LEAVE A LEGACY?
Since Homerton’s foundation in London in 1768, legacies have been integral to our growth and development. Legators like Alison Shrubsole, Hilary Shuard, Joan Simms and Jacqueline Welford are remembered in the very fabric of the College. Their foresight in making provision in their Will has enabled us to build on our success in our core areas: teaching, education, research and consolidating the estate.
We would like to invite you to consider joining them in providing for Homerton’s future. Legacies allow to go beyond what you could normally give, laying foundations for future generations of students, scholars, and the College itself. Increasingly, legacies of all sizes will be important in helping us seize opportunities as they arise. If you do decide to support us in this way, thank you.
LEAVING A LEGACY
If you decide to include Homerton in your Will, we would suggest using the wording below.
I give to the Principal, Fellows and Scholars of Homerton College in the University of Cambridge [the residue]/[% of the residue] of my estate [or] [the sum of £x] free of tax for the general purposes of the College. I direct that the receipt of the Bursar or other proper officer of the College shall be a full and sufficient discharge to my Executors.
We would encourage you to specify ‘General Purposes’. This gives us the flexibility to use your gift in the most appropriate way to support our core aims: teaching, research, welfare, and student needs. We cannot predict what challenges future generations will face, and this flexibility is extremely valuable. Bequests to specific areas of College life are also welcome, and we would be happy to advise on wording to help ensure that your gift is applied appropriately.
Most legacies are in the form of a specified sum, or a percentage of an estate after other bequests. If you plan to make your gift in another way, such as by giving a specific item, property, or stocks and shares, or creating a reversionary bequest, please get in touch.
Most importantly, we would urge that any changes to your Will be made through a qualified legal professional and in consultation with loved ones, to ensure your wishes are fully understood.
Under UK law, the value of a gift left in a legacy is deducted from the taxable value of the estate as a whole. If the total donated to charity is above 10% of the total value of the estate, a reduced rate of inheritance tax is applied to the remainder of the estate.
If you have included, or are considering including Homerton in your will, we would love to hear from you. Notifying us of your intentions allows us to provide the best possible recognition to our legacy supporters and gives us an indication of future support.
If you have any questions about leaving a legacy and would like to discuss options in confidence, do please get in touch and we will be happy to assist as far as possible. For specific legal issues, you should consult a legal professional.