Thinking about leaving a gift in your will?
How to leave us a legacy gift
Leaving a gift in your will is simple and we’re here to help.
This page provides an overview of the steps you’ll need to follow and highlights sources of more information.
If you are considering leaving a gift in your will to Imperial, please get in touch with Anna Wall, Head of Legacy Giving at +44 (0)20 7594 3801 or firstname.lastname@example.org. Anna can support you in choosing the area for your gift, provide you with suggested wording for your will and can even arrange for you to meet with a colleague working in an area of interest to you.
How to leave a gift in your Will
Contact Anna Wall
our Head of Legacy if you are writing or updating your will
Make changes to will
or use a solicitor from our Free Wills Network
Let us thank you
and join the Queen’s Tower Society for legacy donors
Wording for your will
We can provide you with suggested wording for your will and our Legal team can also review existing wording to ensure your gift is used in accordance with your wishes. Your solicitor can use the following as a guideline for including Imperial in your will:
“I give to Imperial College of Science, Technology and Medicine (also known as Imperial College London), HMRC number X2361 of Exhibition Road, South Kensington, London SW7 2AZ, [insert a fixed amount] or [insert specified percentage of my residuary estate] to be applied to [insert general purposes/preferred area] of the said College and I declare that the receipt of the Director of Finance or other duly authorised officer of the College for the time being shall be a good and sufficient discharge to my Executors.”
College’s charitable status
Imperial College London has charitable status for all UK tax purposes (HM Revenue and Customs number X2361) in accordance with the Charities Act 2011. The College enjoys all tax exemptions and other benefits of a charity but does not need to register with the Charity Commission. Our HMRC number X2361 can be used in place of a registered charity number.
Benefits of giving in wills
Reduce your rate of inheritance tax. A gift to Imperial in your will won’t be counted towards inheritance tax reducing what your beneficiaries have to pay or removing inheritance tax liability. Anyone leaving 10% of their estate to charity may qualify for reduced rate of inheritance tax – 36% rather than 40%. Please see www.gov.uk/inheritance-tax for more information.
Legacy Information Brochure (PDF) guide to leaving a gift to Imperial in your will.
Q. Who should I talk to about leaving a gift in my Will?
Help us plan for the future of the College and its future generations of students. Please contact Anna Wall on +44 (0)20 7594 3081 or email email@example.com . We recommend you seek professional advice if you do decide to leave a gift in your Will to Imperial College, but would be delighted to discuss your options with you.
Q. What type of gift can I leave in my will?
There are several different ways in which you can choose to support Imperial in your will.
- A residuary gift is a contribution of the remainder of an estate once other gifts and payments have been made. This type of gift is popular because it takes care of others first and remains proportional to the value of your estate by keeping pace with inflation.
- A pecuniary gift is a fixed sum of money specified in your will. The value of a pecuniary gift could decrease over time, due to inflation.
- A specific gift refers to a named item,such asa piece of jewellery or property.
- A reversionary gift allows you to leave assets for the care of a loved one for the duration of their life. When they die, your gift will then go to your chosen charitable recipient.
Q. Can I choose where to direct my gift?
If you would like to direct your gift to a particular area of the College we will be equally committed to accommodating your wishes.
Q. Does leaving a gift in my Will have tax implications?
Including Imperial in your Will is one of the most tax-efficient ways of supporting the College. After providing for your family and friends, your estate may be subject to inheritance tax. It may therefore be advantageous to distribute your estate so that your family and friends are left gifts below the tax threshold (currently £325,000 until 5 April 2015) and therefore not subject to inheritance tax.
From April 2012, a new law has been introduced to help reduce the inheritance tax bill for those who give to charity. If your estate is worth over £325,000, and you leave 10% to a charity, tax may be paid at a reduced rate of 36% instead of 40%.
Q: Should I inform the College if I am considering or decide to include Imperial in my will?
Informing the Development Division of your decision will also enable us to put you in touch with any relevant people at the College, answer your specific questions and also to thank you and acknowledge your generosity during your lifetime.