Legacies

Remembering Bryanston in your will is one way to make a major gift to the School and significantly benefit future generations of students. Bryanston is a registered charity and thus pays no tax on gifts of money during your lifetime or after your death. In addition, since legacies to Bryanston do not attract inheritance tax, a legacy to the School can reduce the amount of tax to be paid on your estate, as the following examples demonstrate:

Tax paid on an estate with no legacy to Bryanston		Tax paid on an estate with a legacy to Bryanston
value of estate legacy to Bryanston amount free of tax amount subject to 40% tax amount left for beneficiaries	£400,000 £0 £262,000 £138,000 £344,800	value of estate legacy to Bryanston amount free of tax amount subject to 40% tax amount left for beneficiaries	£400,000 £100,000 £262,000 £38,000 £284,800
tax paid	£55,200	tax paid	£15,200

Comparing these examples, a very generous gift of £100,000 to Bryanston costs the remaining estate £60,000 but still leaves nearly five times that amount for the other beneficiaries and significantly reduces the amount of tax paid.

There are different types of legacy that can be structured according to your needs, either forming part of your will or in an addition to it (a codicil). We strongly recommend that you seek professional advice in creating a legacy, and are happy to provide suggested language to discuss with your solicitor when preparing your will or codicil.

If you are considering making a legacy to Bryanston, please firstly accept our sincerest thanks. The Development Director would be delighted to talk to you about creating your bequest and how you would like it to benefit the School. Please click here for his contact details.