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We recognise respectfully that choosing to leave a gift to Bristol Grammar School in your will is a private and personal matter.
If, however, you decide to do so, you will not only be supporting children long into the future, you will also be avoiding inheritance tax as donations or gifts to a charity are not subject to this. Also, where a charity donation is equivalent to at least 10% of your estate, any inheritance tax payable elsewhere is reduced to 36% from 40%.
RESIDUARY LEGACY
This legacy leaves all or that part of your estate that is remaining after all other bequests have been made and expenses have been met. This is the safest way to ensure that your legacy retains its value.
PECUNIARY LEGACY
This legacy leaves a specified set sum of money. You can index link the amount to the retail price index to avoid the problems associated with inflation.
SPECIFIC LEGACY
This legacy leaves a specified possession which you gift to the school. This may be in the form of property, valuables, works of art or stocks and shares. Your solicitor will be able to advise you of these in more detail.
SEND US A PLEDGE FORM
You can send us a legacy pledge form which you can download here. This form is not a legal commitment, and you can change your mind in the future. It is a simple way for you to express your wishes and having knowledge of legacies that have been pledged helps us plan for the future. It will also enable the school to thank you properly for you gift during your lifetime.
INFORM YOUR SOLICITOR
If this is your first will, you simply need to ask your solicitor to insert a paragraph in your will detailing your wishes. If you already have a will, you can ask your solicitor to update it by adding a codicil. A template codicil form can be downloaded here.
TALK TO US
You can send your pledge form to community@bgs.bristol.sch.uk and we will be in touch to confirm your details but you can contact us at any time. This is also a good opportunity to discuss how he legacy will be used and how you want the school to recognise your gift.
RECOGNISING YOUR GIFT
Legacies are immensely valuable to the school and we are grateful for every legacy we receive, whatever its value. To recognise the generosity of those who remember BGS in their will during their lifetime, we have established the 1532 Society. All legacy donors are entitled to become members of this Society. Members will receive communication and will be invited to attend our annual Donors’ Lunch held in the Great Hall, together with other special events.
NAMING OPPORTUNITIES
Donors who bequeath money to fund a child through the school, either directly through income or via endowment income in perpetuity, are offered the opportunity to name their Bursary Award. Donors might choose to name the award after themselves, a close family member or a former teacher. We are also happy to discuss similar naming possibilities for substantial legacies to other aspects of school life.