A gift to St Edmund’s College in your Will could help the College to flourish far into the future by enabling the College to promote scholarship and research, to support students and to develop and maintain its buildings. For many people, a gift in their Will is a good way to make a significant and lasting contribution. It may cost nothing in their lifetime, yet provide much satisfaction and peace of mind in prospect. There is an opportunity to make a real difference, even for those with current financial commitments and future financial responsibilities.
St Edmund’s is a registered charity (No. 1137454), so for UK taxpayers, leaving a legacy bequest to the College should have tax benefits for your estate by reducing the amount liable to Inheritance Tax. (In 2014-15 this is the excess over £325,000). To calculate the value of your Estate and how to offset any tax due by leaving a legacy to St Edmund’s and other charities, use this link. The College may also be able to receive bequests free of tax from other parts of the world – please contact us for advice on this matter.
Anyone choosing to support the College in this way can be sure that their gift will be used wisely and for the direct benefit of the College. Legacies can be directed towards specific areas but contributions marked ‘for general purposes’ are more flexible as they will allow the College to respond to changing needs in years to come.
Permanent forms of recognition could include the naming of Fellowships, Scholarships, rooms and buildings in the College. Membership of the Edmond Nolan Society is open to anyone who has notified the College of their intention to benefit the College in their Will.
All Members who inform the College that they have included St Edmund’s as a beneficiary in their Will become members of the Edmond Nolan Society. Established in 2013, the Society gives the College the opportunity to thank legacy pledgers for their generosity, during their lifetime. The name commemorates Father Edmond Nolan, Vice-President of St Edmund’s College Ware, who moved to Cambridge in 1896 and established the embryonic St Edmund’s House, initially with one student.
Members of the Edmond Nolan Society will be invited to a triennial gathering. The inaugural event is likely to be in the summer or autumn of 2016. Members also receive regular correspondence to update them on the Society’s membership and life at the College.
It is important that the correct wording is used when a bequest is made. We would always recommend using a qualified solicitor to make or alter your Will, but a suggested form of wording for a Will or codicil is:-
"I give to the Master and Fellows of St. Edmund’s College, Mount Pleasant, Cambridge, CB3 0BN (Charity number 1137454) the residue / (a proportion) of the residue of my estate / the sum of £ (amount) free of tax for the general purposes of the College and I declare that the receipt of the Bursar or other authorised Officer of the College shall be a full and sufficient discharge to my executors."
For further information or advice on leaving a gift to St Edmund’s in your Will, please contact the Development Office.