Leaving a gift in your will

We are indebted to those who remember Clare Hall in their Will. A legacy gift can be written into a new Will, or simply added to an existing one using a Codicil form. We recommend that you seek professional legal advice when making or amending a Will.

There are several methods by which you can remember Clare Hall in your Will:

  • residuary legacy is a gift of all, or a percentage of, your estate after other bequests, taxes and charges have been met. We ask you please to consider the merits of leaving a residuary legacy; it protects your gift to Clare Hall against inflation, while insulating your other beneficiaries from the effects of deflation, as well as from any decision you may make to reduce the size of your estate for your own needs in older age. So this can be a win-win arrangement.
  • pecuniary legacy is a monetary gift of a specific sum; to safeguard its future value it can be index linked.
  • specific or non-monetary legacy allows you to leave items to the College: for example, stocks and shares, property, furniture, paintings or other fixed assets, either to be used, or to be sold to generate funds.
  • A reversionary legacy or life interest trust leaves your assets to named beneficiaries to enjoy in their lifetime. Upon their death the whole, or a proportion of what remains, could pass to the College.

As with any form of donation, gifts to the College for general purposes offer the most flexibility as they can be directed to the areas that require most support at any given time. Clare Hall is naturally, however, also happy to receive gifts directed to specific areas of College life.

Whichever option you choose, we suggest that you use the following wording when leaving your gift to Clare Hall

‘I give to the President, Fellows and Scholars of Clare Hall, Cambridge (Registered Charity Number 1137491)[the residue of my estate] [_____ % of the residue of my estate][the sum of _________] free of tax for the general purposes of the College and I declare that the receipt by the Bursar or other authorised Officer of the College shall be good and sufficient discharge to my Executors.’

As a registered charity Clare Hall pays no tax on gifts bequeathed and a legacy to the College may reduce your estate’s Inheritance Tax liability. Additionally, from April 2012, if a person leaves 10% of his or her estate to charity, Inheritance Tax will be charged on the estate at a rate of 36%, rather than the usual rate of 40%.  Potential legacy donors who are already considering leaving a gift in their Will may find under this relief that they can leave more to charity with little impact on the amount left to their non-charitable beneficiaries.  More information is available on this.

For those living in the USA, you can also find out more from Cambridge in America on how to leave a gift in your will to benefit Clare Hall while ensuring tax exempt status.

If you are subject to tax in both the UK and US, you now have the opportunity to give to Cambridge in America (UK) Ltd, a registered charity in England, and be simultaneously eligible for tax benefits in both countries. Gifts by check, wire transfer, of publicly traded securities and of land are accepted.

To make a gift by check, of publicly traded securities, or of land, please e-mail Eileen Flood, Administrator for Cambridge in America (UK) Ltd or by phone at +44 (0)20 7502 2813.

Clare Hall is committed to protecting your privacy, please refer to www.clarehall.cam.ac.uk/data-protection-information