Throughout our history many individuals have helped to secure our future by leaving a legacy in their Will. Legacy gifts are critical, allowing us to plan for the coming years with greater certainty. More and more of our supporters are joining our growing philanthropic community by choosing this method of giving.
You may wish to leave a legacy to benefit a specific area of research or a department, support a scholarship or chair, fund a piece of equipment or direct your gift to where the need is greatest. We will be glad to work with you to find a meaningful and effective way for your gift to be used. The University will always endeavor to carry out the particular wishes outlined in your Will, but recommends including a paragraph allowing flexibility, to ensure that your gift always remains useful.
Practicalities of leaving a legacy
There are practical benefits associated with making a gift through your Will.
- Taxation benefits - any legacy gift to a charity is deducted from the value of your estate before inheritance tax is calculated. The University of Strathclyde is a charitable body, registered in Scotland, number SC015263.
- Legacy gifts can be used to commemorate a donor or to honor another person.
There are 3 main types of legacy gift:
- A share of your estate (a residuary gift)
- A fixed amount of money (a pecuniary gift)
- A particular item left to Strathclyde
The most valuable gift is a residuary one, as these gifts are not eroded by inflation in the way cash gifts are, but any gift you choose to leave Strathclyde, large or small, will make a significant difference to bringing about future breakthroughs and advancements that have been the hallmarks of Strathclyde's success down the centuries.
Many Strathclyders will already have prepared a Will and it is always important to seek legal advice when doing so. Your solicitor will be best placed to advise on the wording for your Will, taking into account your wishes. Please also contact us to discuss your intentions, so we can ensure your wishes can be fulfilled.