KR brochure draft 06 06 2014_Layout 1 09/06/2014 10:20 Page 1
WESTMINSTER SCHOOL
THE A. A. MILNE SOCIETY
KR brochure draft 06 06 2014_Layout 1 09/06/2014 10:20 Page 2
KR brochure draft 06 06 2014_Layout 1 09/06/2014 10:20 Page 3
The Westminster School we see today is the result of many hands, working to shape its form, mission and success across a history spanning four-and-a-half centuries. , not only for the path that they have prepared for us, but also for what they have chosen to give back so that our way can be more assured. Many of us will have more than one priority in mind when we plan our estate, looking to provide for loved ones and support causes which reflect our values. Westminster is extending opportunities to bright young people from every part of society through its expanding bursary programme and investing in the fabric of the School to ensure that we have facilities fit for the 21st century and beyond. Your gift will help to ensure this work continues for centuries to come. Queen Elizabeth I, Richard Busby, and of course A. A. Milne himself, all looked ahead and made gifts for the benefit of future g enerations of Westminster pupils.
and join me in making a legacy gift to this exceptional institution, helping to make our next 450 years as successful as our last.
Tony Willoughby (LL, 1959-62) Chairman, The A. A. Milne Society
KR brochure draft 06 06 2014_Layout 1 09/06/2014 10:20 Page 4
KR brochure draft 06 06 2014_Layout 1 09/06/2014 10:20 Page 5
Directing your support It is our responsibility to face the challenges of the future as successfully as we have met those of the past. Legacy bequests allow the School to plan for the long term, and offer donors the chance to make larger gifts than might otherwise be possible during their lifetime. Donors can either choose to allow their gift to be used at the School’s discretion, or direct it towards a specific area. The three most common of these are listed below, but the Development Office is also happy to work with donors to create giving opportunities specifically tailored to their personal areas of interest and financial means.
Westminster aims to enable all pupils who win a place on their academic merit to come to the School regardless of their ability to pay. As a result, we have developed an excellent bursary programme, and provision for this important scheme remains a high priority. A gift directed to this area can truly change lives. In recent years, Westminster has made extensive improvements to its facilities, due in large part to the support it has received from its former pupils, parents and friends. Legacy donations to this area will assist the School in improving and modernising facilities and preserving buildings of enormous historic significance from the ravages of time and weather. New facilities have renewed the School’s focus on extra-curricular activity, pastoral welfare and academic excellence. General purpose gifts help us to provide materials and opportunities which enhance the experience of all pupils in each of these areas.
KR brochure draft 06 06 2014_Layout 1 09/06/2014 10:20 Page 6
Types of legacy gift Legacy gifts can take several forms and some of the most common are listed below. We recommend that you seek professional advice to decide which is most personally appropriate. The simplest form of legacy, allowing you to stipulate a specific sum of money. This gift has more flexibility than a pecuniary legacy in that you have neither to quantify the sum nor to take into account inflation when you draw up your will. The residue of your estate is the value remaining once all pecuniary legacies, debts, fees and other liabilities have been met. You may decide to leave all or part of that residue to Westminster. A legacy need not necessarily be monetary. You may wish to leave a gift of specific assets such as stocks and shares, library collections, property, jewellery, antiques, works of art or other valuable objects. You may wish to leave a gift to another beneficiary (e.g. a spouse or partner) to enjoy during their lifetime, with the School receiving the benefit only after their death. When considering your will, you will naturally feel a duty to provide for your dependents. However, you may wish to direct that, if a gift in favour of any intended recipient is not possible (perhaps because they pre-decease you), the value of the gift would instead pass to the School. If you find yourself a beneficiary under a will, you might consider transferring the whole or part of this to the School using a deed of variation. Gifts and possessions that have been transferred in this way have the added benefit of exemption from Inheritance Tax.
KR brochure draft 06 06 2014_Layout 1 09/06/2014 10:20 Page 7
Making or updating your will For the purpose of a legacy, the School’s full legal name for inclusion in your will or codicil is “St Peter's College (otherwise known as Westminster School), registered charity number 312728”. Legacy gifts for unrestricted purposes are always particularly helpful. If you are happy for your bequest to be used in this way, please note “general purposes”. Otherwise, please specify a fund or programme. Westminster School is recognised as a charity by HM Revenue & Customs and therefore pays no tax on gifts of money or property made either during your lifetime or upon your death. Bequests made to such tax-exempt beneficiaries are entirely free of Inheritance Tax, meaning Westminster will receive 100% of the value of your gift.
US taxpayers For US taxpayers, a bequest made to “The Westminster School Foundation US, registered charity number 99-0369928” is deductible for federal estate tax purposes, and there is no limit on the amount of the estate tax charitable deduction. In addition, bequests are not generally subject to state inheritance or estate taxes. The Westminster School Foundation US is incorporated in the state of Delaware and carries 501c3 status from the US Internal Revenue Services, which means that all qualifying donations made by US taxpayers will be treated as tax-deductible.
KR brochure draft 06 06 2014_Layout 1 09/06/2014 10:20 Page 8
The A. A. Milne Society In recognition of perhaps our most generous benefactor, A. A. Milne (QS, 1893-1900), the Society seeks to highlight the extremely important role that legacies have played in Westminster’s past and how crucial it is that this form of support continues into the future. A. A. Milne bequeathed to the School a gift that later turned out to be Westminster’s largest ever benefaction, an act of generosity that will continue to impact the lives of Westminster pupils for generations to come. The A. A. Milne Society was formed to recognise those who have generously chosen to support Westminster through their wills, and those who through a bequest have made a commitment to supporting the School in future. Legacy income, both large and small, is crucial in helping Westminster School to face its financial future with confidence and security. For centuries, Westminster has provided its pupils with an education that is second to none, a tradition of excellence that is underpinned by the generous support of alumni, parents, staff and friends. Legacy giving plays a fundamental role in safeguarding the School’s continued ability to offer an exceptional education for bright young minds today and in years to come.
If you have any questions about legacy giving, or wish to learn more about directing your support to a specific area of our work, please contact: Westminster School 17A Dean’s Yard London SW1P 3PB 020 7963 1115 developmentoffice@westminster.org.uk
KR brochure draft 06 06 2014_Layout 1 09/06/2014 10:20 Page 12
Codicil form
(page 1/2)
Please sign this form in front of two witnesses. Your witnesses should not stand to benefit themselves or be married to anyone who stands to benefit from your will or this codicil and they must both sign the form when you do. Also, to be sure that it ties in properly with your will, we would recommend that you see your solicitor. Once completed this codicil must be kept with your will.
KR brochure draft 06 06 2014_Layout 1 09/06/2014 10:20 Page 13
Codicil form
(page 2/2)
KR brochure draft 06 06 2014_Layout 1 09/06/2014 10:20 Page 9
KR brochure draft 06 06 2014_Layout 1 09/06/2014 10:20 Page 10
The Development Office Westminster School 17A Dean’s Yard London SW1P 3PB 020 7963 1115 developmentoffice@westminster.org.uk
KR brochure draft 06 06 2014_Layout 1 09/06/2014 10:20 Page 11
A legacy to Westminster School We would be grateful to know if you intend to include or have already included Westminster School in your will. This will allow us to recognise your support during your lifetime as a member of the A. A. Milne Society, with invitations to special events and updates relevant to Society members. Please return your completed form to: Westminster School 17A Dean’s Yard London SW1P 3PB