Small School field.jpg

 

Leaving a Legacy

 

You can help transform pupils' lives by leaving a legacy in your will to the Old Birkonian Society (Society).  This can be achieved at comparatively little cost to your estate due to the enormous benefits of tax relief that would be applied to any money you leave. 

 

Legacies are vital to enabling the Society to help pupils at Birkenhead School by providing financial support.  This support is primarily delivered in the following ways:

 

Bursaries: These enable pupils to be educated at the School who would not otherwise have had the chance.  Any legacy that you make, no matter the size, will help further that objective and enrich future pupils’ lives.

 

General support: In addition to bursaries the Birkonians also provide general  financial assistance to the School, helping fund particular projects or facilities.

 

Whilst we would prefer to have the freedom to manage your legacy in the most effective way for the benefit of the School, you have the freedom to direct how your legacy should be used if you wish.

 

As our below(1) Inheritance Tax example guide demonstrates, the cost to your estate from leaving a gift can be very small compared with the value of the gift provided.  This is because the legacy attracts inheritance tax relief due to the School’s charitable status, excluding money that you leave to the School from forming part of your taxable estate.  As a result, a gift of £67,500 could in reality reduce your net estate (i.e. that which is left after the deduction of inheritance tax), by a mere £16,200 due to the reduction in tax that would otherwise be paid.

 

Should you wish to leave a legacy we would strongly recommend you obtain   independent legal advice and that you contact us so that we can discuss any wishes you may have.  Please contact us at office@obs.org.uk

 

Please click on the below links for further details on the tax benefits of leaving a legacy as well as a template Codicil Form:(2)

Links:

(1) Inheritance Tax example guide.

(2) Template Codicil form

(3) Suggested wording