The HABS Foundation Legacy Booklet

Your Legacy and The HABS Foundation

www.habsboys.org.uk

The Dr TW Taylor Society and The HABS Foundation Bursaries Those who have pledged to leave a gift by bequest to The HABS Foundation become members of the Dr TW Taylor Society. It was Dr Taylor’s vision and imagination that led the School to relocate to its current site in 1961 and which laid the substantial groundwork enabling us to become one of the leading independent schools in the United Kingdom. Not only did he devote a lifetime to making Habs the school it is today, but in his legacy he also provided the School with a gift to help it into the future.

Dr Taylor also firmly believed in the life transforming nature of a Haberdashers education, and in assisting pupils who have demonstrated the ability to thrive at Habs, but whose families may struggle to afford school fees. He would therefore have fully supported The HABS Foundation’s Bursary Campaign in which we seek to raise £10million by 2024 for the establishment of needs-blind access to our most deserving pupils.

Please pledge your support today to The HABS Foundation in your Will, and share in Dr Taylor’s vision of the future.

Wills and Bequests - Helping Habs Making a Will Making a Will is an important responsibility, especially if you have a family or dependants. After you have provided for their future, however, we would be delighted if you wanted to show your support and affection for Habs by adding a codicil to your Will benefiting The Haberdashers’ Aske’s Boys’ School Foundation (Charity Number 1107027).

Tax Efficient Giving and your Estate in the UK By making a gift to The HABS Foundation, you may find that you significantly reduce the Inheritance Tax liability imposed on all estates valued above £325,000 (2020-2021). Please take legal advice for more prescise information about how your legacy to The HABS Foundation would ease the impact of taxation on your estate.

Tax Payers in the USA American tax payers are able to claim relief for inheritance tax purposes by giving to The HABS Foundation through the British Schools and Universities Foundation (www.bsuf.org).

The Wording and Beneficiaries of your Gift Individuals often wish to leave a bequest in support of a particular activity or function at the School. We realise that often it was a fond memory of a particular teacher or subject area which led to the making of the codicil, and we would not wish to advise against such a benefaction. However, please bear in mind that subject areas, teachers and activities change over time, and the more specific your codicil, the more difficult it may be to apply it according to your wishes.

Please consider giving to more general areas of support (i.e. to ‘Sports’ rather than to ‘Rugby’, to ‘Languages’ rather than to ‘Latin’).

Alternatively, you might provide a secondary option should the Trustees be unable to appropriately allocate your gift to your first option. We would be very grateful if the secondary option left the allocation of your gift to the discretion of The HABS Foundation Trustees.

Informing The Haberdashers’ Aske’s Boys’ School In due course, The HABS Foundation will be notified by the executors of a Will that we have been named as beneficiaries. However, it helps us to plan for the future more effectively if we are informed in advance that we have been nominated in this way. Please consider informing us of your generosity by completing and returning the attached form if you would like to help Habs in this way.

Wills and Bequests - Types of Legacies There are various types of legacies; below are examples of ways you might wish to give.

Pecuniary Legacy: This is the simplest form of legacy. However, the value of such a bequest remains static and therefore erodes with inflation. If you were to write a codicil for a pecuniary legacy which named The HABS Foundation as a beneficiary, you might therefore want to consider leaving a percentage of your estate rather than a fixed sum.

Residuary Legacy: The residue of your estate is the amount remaining once all the pecuniary legacies, debts and other charges have been paid. You may, for instance, decide to leave the whole or part of the residue to The HABS Foundation.

The advantage of this form of legacy is that its value is not eroded by inflation.

Reversionary Legacy: A reversionary legacy can benefit both your family and friends, and The HABS Foundation at a later date. Under this arrangement, certain assets can be left to a chosen beneficiary for their lifetime, after which a part or all of them revert to The HABS Foundation.

Specific Legacy: Legacies need not simply involve money. Gifts such as works of art, property and stocks and shares may also be left to The HABS Foundation.

Conditional Legacy: A conditional legacy allows for circumstances in which named dependants die before you. Your estate would then be left to The HABS Foundation and to any other named beneficiaries.

Life Assurance: A life policy is taken out on your life with The HABS Foundation as the beneficiary.

Legal Advice The advice herein is only a general introduction. Please seek legal advice to ensure that your wishes are stated clearly in the terms of your Will.

Your gift will...

• Enable bright boys to receive an exceptional education that their parents could otherwise not afford

• Support the remarkable range of co-curricular activities that together create the exceptional ‘Habs Experience’

• Build facilities and maintain the grounds that keep us at the forefront of the British independent school sector

• Enrich our curriculum by the provision of visiting speakers who will motivate our boys and enhance their education

• Fund prizes and other opportunities to reward achievement and effort

• Be your legacy to the future

Response Form I am delighted to advise the Trustees of The Haberdashers’ Aske’s Boys’ School Foundation that I have added a codicil to my Will to support the aims and ambitions of the School. My details are below: PERSONAL DETAILS Surname Forename(s) Title Date of Birth Address

Email Phone (Home) Relationship with Habs

n Former Pupil

Post/Zip Code (Mobile/Cell)

n Former/Current Parent

n Former/Current Staff

Other Years and House associated with Habs (if appropriate) LEGACY DETAILS The type of legacy (pecuniary, reversionary, etc) Your estimate of the value of the Gift The intended beneficiaries of your Gift

n Awards and Bursaries (widening access by financial support) n General (priorities to be established by the Trustees of the Foundation) n Co-Curricular Activities (sports, music, drama, etc) n Academic Facilities (buildings, departments, books, speakers, etc) n Other (please state) n I would like the value of my legacy gift to be anonymous n I would like my name to be anonymous

The HABS Foundation, The Haberdashers’ Aske’s Boys’ School Butterfly Lane, Elstree, Hertfordshire WD6 3AF Email: foundation@habsboys.org.uk Telephone: 020 8266 1907

Please return to: The HABS Foundation The Haberdashers’ Aske’s Boys’ School Butterfly Lane, Elstree, Hertfordshire WD6 3AF Email: foundation@habsboys.org.uk Telephone: 020 8266 1907

www.habsboys.org.uk