Act today. Transform tomorrow.
Act today Transform tomorrow A guide to leaving a gift in your Will
Loughborough University
Act today. Transform tomorrow.
Welcome Whenever I come into contact with another individual with a connection to Loughborough, there is an immediate sense of pride attached to their association with the University. We have reason to be proud. Significant growth over the last few decades has led to Loughborough becoming one of the UK’s strongest, leading higher education institutions. This growth wouldn’t have been possible without so many acts of kindness from alumni and friends when leaving gifts to the University in their Will. Kindness that we are deeply thankful for. A legacy gift is a very personal decision that will reflect on the things that mean the most to you. Your experience at Loughborough will have played its part in your life story; it will hold fond memories and special moments, and will have contributed towards developing you as the person you are today. Leaving a gift in your Will to the University shows that you valued your time at Loughborough, and want others to do the same. You will become part of the Loughborough experience for generations to come, ensuring that it continues to play a significant part in all individuals’ stories. Thank you
Professor Robert Allison, Vice-Chancellor
Over 100 years of education and innovation The University has achieved so much since its inception in 1909. None of this would have been possible without the support of legacy funding. • In 2015 the University opened a postgraduate campus at the Queen Elizabeth Olympic Park in London – home to the London 2012 Olympic and Paralympic Games • The University has experienced a significant rise in all major UK league tables, placing it firmly among the country’s leading higher education institutions VERIT AT E
• Our student population now boasts over 16,500 students across undergraduate and postgraduate • We are renowned for our award-winning student experience • Research and innovation at Loughborough has been recognised by seven Queen’s Anniversary Prizes
Loughborough University
Act today
Transform society through revolutionary research Your actions today could contribute to the progress we make in the future. Make your lasting connection to Loughborough one that contributes towards the highest levels of new knowledge and understanding. Loughborough is renowned for the relevance of its research, which is driven by society’s need for solutions to real-life issues. Your legacy gift could fund the growth of ongoing research at Loughborough, or contribute towards the birth of new research projects. This means that the combination of your actions now and our actions in the future, can transform the environment we live in, shape society for the better, and improve the quality of people’s lives for generations to come.
Act today. Transform tomorrow.
Loughborough’s impact to date Over 21 million images of women aged 45-74 are screened for cancer by 700 UK radiologists every year using software developed at Loughborough
This has led to
more than 8/10 women in England diagnosed with breast cancer surviving for at least five years
More than 1 million people in developing countries have access to
clean, piped water
because of Loughborough research
Loughborough research has
saved the NHS £25m through improved ambulance design
Thousands of UK workers receive
£8.25 an hour living wage as a result of the Minimum Income Standard devised by the University and applied worldwide
An estimated
30% energy savings can be made from better designed, naturally ventilated buildings based on Loughborough research
Since 2013 the University has invested £30m in infrastructure to
support health and well-being research
Loughborough University
Act today
Transform the lives of talented individuals Our award-winning student experience is designed to help our students achieve their full potential. It has the power to transform an individual’s life, and we believe that all talented individuals should have the opportunity to experience life at Loughborough. Scholarships and bursaries are being used to ensure that dedicated and motivated students can benefit from the Loughborough experience, whatever their circumstances. For this reason legacy gifts towards student support are increasingly important. In fact, the first legacy gift ever pledged to the University, by Mrs Annie Thompson in 1935, was left to support the sons of clergy, professional men and other residents in the area who wished to be educated. This gift has had a lasting effect on the many individuals who have benefitted from her kindness. Leaving a legacy gift in your Will for student support shows you have considered the benefits of the education you received. Give somebody the opportunity you had. Act today to support those that are still to experience all that Loughborough has to offer.
— “I am truly honoured to have been supported by gifts to the University and I feel especially privileged to have received support from legacy gifts.” —
Sophie-Louise Hyde
Postgraduate Researcher, Department of English and Drama
Act today. Transform tomorrow.
Sophie-Louise Hyde Postgraduate Researcher, Department of English and Drama Sophie-Louise Hyde has been at Loughborough for seven years, studying at both undergraduate and postgraduate level in the School of Arts, English and Drama, and now working towards her PhD. Since starting at the University in 2009, Sophie has benefited from a number of philanthropic gifts, including legacy donations, through scholarships for her studies, prizes for her academic achievements, and awards for her business, The Student Wordsmith. “I am truly honoured to have been supported by gifts to the University and I feel especially privileged to have received support from legacy gifts. “Without the support of scholarships, students like me would not be able to afford to study at Loughborough and explore unique and pioneering research topics. Being awarded a scholarship means that financial worries can disappear, as they really do have such an impact on a student’s life and I cannot begin to describe what it feels like to have these worries alleviated by the generosity of others.” Sophie is the perfect example of how philanthropic support can help someone succeed and thrive while at university. Following graduation, she would like to remain in academia (research and teaching) and continue to pass on her knowledge to the next generation of students.
Loughborough University
Act today
Transform the future of our institution There has always been an atmosphere of determination on campus, and we strive to continue to build our reputation, invest in potential and rise to the challenges of the future. A legacy gift can transform the direction of a student’s life; it can transform our facilities and environment, or it can transform our student experience to provide more opportunities for all. A legacy gift can also transform the world we live in, contributing to globally important research that is responding to real-life issues. No gift is too small. The combined impact of all legacy gifts is remarkable. Every gift that is pledged, no matter what its size or purpose, is used to enhance the experience and environment we provide.
— “The one thing all Loughborough alumni have in common is that we went to an educational institution which encouraged team spirit, respect for others, independent thinking and a passion for sport, the arts and academic success. I am very proud that the University still holds these values and my legacy gift is a way of showing my appreciation.” —
Richard Tibbott
Physical Education and MSc Leisure Management (1965-1970)
Transforming teaching space A donation from the estate of alumnus John Hanford was used to transform a piece of disused land into a covered outdoor teaching space for use by students and staff. The area is a perfect memorial to John, who graduated from the School of Civil and Building Engineering in 1955, with many friends, happy memories and opportunities for which he remained grateful to Loughborough throughout his life.
Act today. Transform tomorrow.
Creating opportunities for students to grow Support from our generous donors makes the creation of innovative and student-focused facilities possible. This includes incredible facilities like STEMLab. STEMLab, a multi-million pound, state-of-the-art suite of facilities on the west side of campus, will enhance our teaching and learning facilities for science, technology, engineering and mathematics – known as STEM subjects. The facility will provide greatly needed increased laboratory space, as well as workshops, computer-aided design and rapid prototyping facilities, a design studio and informal learning spaces. It will also provide us with opportunities to develop new degree programmes in areas such as Bio-Science and Engineering. The new building will also act as a base for the University to expand its outreach work with schools around the country – working to engage students with science and engineering at a younger age, and support students to find out more about the range of careers open to STEM graduates. “STEMLab is a very exciting concept. Students will be able to design, engineer, build and test their innovations in a single location and, importantly, interact with others studying related science and engineering subjects.” Professor Robert Allison, Vice-Chancellor, Loughborough University “We are incredibly grateful to all who have helped support the development of this facility. STEMLab will greatly enhance the educational experience of our students, as well as play a crucial role in encouraging the next generation of scientists, engineers and mathematicians.” Professor Rachel Thomson, Dean of the School of Aeronautical, Automotive, Chemical and Materials Engineering, Loughborough University
Loughborough University
Our next steps depend on you... A legacy gift is the most significant gift you will ever make, and should reflect on the things that matter the most to you. That’s why if you decide to make a legacy gift, we will work with you to ensure your wishes are met. If you are considering leaving a gift to Loughborough in your Will, your next steps should be:
READ
Read through all the information provided at the back of this brochure. This will take you through suggested wording for your Will, how to amend an existing Will, and helpful information on related areas such as reducing your tax.
CONTACT
Contact our friendly team. They will be able to talk you through your options for leaving a legacy gift, as well as discuss your personal requirements for how the gift is used.
SPEAK
We also strongly recommend you speak with a solicitor, who will be able to advise you on the best way to record your intentions and maximise the impact of your financial arrangements. If you already have a Will, your solicitor will also be able to advise you on amending it.
Act today and transform tomorrow by visiting www.lboro.ac.uk/legacy
Thank you We cannot emphasise enough how grateful we are for the gifts we receive. A legacy gift in a Will is a mark of pledging your belief in our future, and we are forever indebted to individuals that do so. If you intend to leave a gift to the University in your Will, or have already done so, please get in touch to let us know so that we can acknowledge your actions with our personal thanks and keep you involved with the University’s plans and ambitions for the future. Individuals that choose to leave a gift in their Will are invited to become a member of the Thompson Circle, a group that was established to thank alumni and friends for their kindness. The group was named after Loughborough’s first ever legacy maker in 1935, Mrs Annie Thompson, and membership includes annual updates from the Vice Chancellor and invitations to special events.
Suggested wording For your Will or Codicil
If your gift to the University is for a specific purpose, we recommend that you contact us to ensure that we will be able to fulfil your wishes. We also recommend that you contact your solicitor if you would like to make a gift part of your residuary estate.
Residuary bequest The value of this gift is based on the value of your remaining estate once all other bequests, charges and debts have been made.
SUGGESTED WORDING “I give to the Loughborough University Development Trust all (or a percentage of shares) of my residuary estate to be applied for: 1. The general purposes of Loughborough University OR 2. The following purpose: The receipt of the person appearing to my Executors or Trustees to be the authorised officer for the University shall be a full discharge to my Executors and Trustees who shall not thereafter be concerned as to the application of this gift.”
Pecuniary bequest The value of this gift is a fixed sum of money specified by you.
SUGGESTED WORDING “I give The Loughborough University Development Trust the sum of £ (or such larger sum as my Trustees calculate to have the same value at my death) as £ date of my Will (or Codicil) for:
had at the
1. The general purposes of Loughborough University OR 2. The following purpose: The receipt of the person appearing to my Executors or Trustees to be the authorised officer for the University shall be a full discharge to my Executors and Trustees who shall not thereafter be concerned as to the application of this gift.”
Continued overleaf
Reversionary bequest This kind of gift is granted to an initial beneficiary during their lifetime. After this time, the asset is passed to a specified person or charity absolutely.
SUGGESTED WORDING The wordings above should be adapted to suit your particular needs and wishes.
Specific gifts SUGGESTED WORDING “I give Loughborough University Development Trust my (full description of item and location). I direct that the receipt of the person appearing to my Executors or Trustees to be the authorised officer for the time being of the University shall be a full discharge to my Executors and Trustees who shall thereafter be concerned to the application of my gift.�
Declaration of Intent
Your pledge to Loughborough University If you have decided to remember Loughborough University in your Will, it would be very helpful if you could please let us know by returning this form via email to legacy@lboro.ac.uk or alternatively by post to: Development Trust, Loughborough University, FREEPOST (LE 5517), Loughborough LE11 0BR This would be an indication of your intention, is not binding and would be strictly confidential. I have left a legacy to Loughborough University in my Will I would like to discuss a possible legacy. Please contact me, using the information below. TITLE FIRST NAME SURNAME ADDRESS POSTCODE TELEPHONE
TODAY’S DATE We would be grateful if you could indicate the approximate value of your legacy. Estimated current percentage %
Estimated current value ÂŁ
Do you have any further information relating to this legacy that you would like to share? For example, if your gift is to be used for a specific purpose please provide details here. This will enable us to ensure we are able to uphold your wishes in the future.
Thank you for considering including Loughborough University in your Will
Reduce the Inheritance Tax your loved ones pay by making a gift in your Will By leaving a gift to Loughborough University in your Will, you may be able to reduce the amount of Inheritance Tax (IHT) that is owed on your estate. Loughborough University Development Trust is an Exempt Charity under Schedule 3 of the Charities Act 2011. This should be included in all Will wording. You will not need to quote a registered charity number. As a result of this the University does not pay income and IHT on any gifts of money or property it receives, and for you it means that leaving a legacy to the University reduces the tax payable on your estate. The gift is deducted from your estate before IHT is calculated, which reduces the amount of IHT that is payable on your total estate. Inheritance Tax is a complex area and it is important that you seek professional advice on the tax implications of your particular circumstances as inheritance tax can be affected by other issues. For further information on the tax benefits of leaving a gift in a Will to a charity please see www.gov.uk/donating-to-charity/leaving-gifts-to-charity-in-your-will
OTHER FACTS TO CONSIDER RELATING TO INHERITANCE TAX (IHT) • The Inheritance Tax threshold is £325,000 (as of January 2013). • This applies to all your assets, including money, possessions and property. • Remember that each party to a marriage or Civil Partnership has their own nil rate band. This provides a combined tax free allowance of £650,000. • If the total value of your estate is above this threshold, it will be subject to IHT. • Further incentives: When you leave a tenth or more of your net estate to a charity, the IHT rate of your whole estate will be reduced from 40% to 36%. • We also recommend that you contact your solicitor to discuss any intentions that relate to this.
Codicil Form
To add to an existing Will I (INSERT FULL NAME) OF (INSERT ADDRESS)
DECLARE THIS TO BE A CODICIL TO MY WILL DATED (INSERT DATE IN WORDS) WHICH IS LODGED WITH (INSERT ADDRESS OF SOLICITOR/BANK/OTHER)
In addition to any legacies given in my said Will I give Loughborough University Development Trust, Loughborough University, Loughborough, Leicestershire LE11 3TU (Exempt Charity) A
OR
% share of my residuary estate to be used for general purpose or for the purpose of
The sum of (in figures and words) £
(Please complete as appropriate and cross out the option above not required) I declare that the receipt of the Registrar and Secretary or other authorised officer of Loughborough University shall be good and sufficient discharge to my Executors.
SIGNED BY THE ABOVE NAMED DATE
Witnessed by the following persons who have signed their names in the presence of each other and the person named above. NAME OCCUPATION ADDRESS SIGNED
DATE
DATE
NAME OCCUPATION ADDRESS SIGNED
Loughborough University
Loughborough University Development Trust (LUDT) Hazlerigg, Loughborough University Leicestershire LE11 3TU T: +44 (0)1509 223447 F: +44 (0)1509 223983 E: legacy@lboro.ac.uk
www.lboro.ac.uk/legacy @lboroalumni /lboroalumni alumni.lboro.ac.uk/linkedin