Leave a gift in your will
The Foundation does not have an historical legacy of retained endowment income, apart from the Leavers Exhibition Fund. We rely on the generosity of individuals who share our vision and commit to help us achieve our goals.
We invite and welcome the support of Old Royals, parents, staff and friends to continue this tradition through gifts in wills.
Many people think a legacy must be a large sum of money. In reality, a gift of any size can help create an enduring impact.
Together, we can transform the life opportunities of young people through your generosity.
Want more information about leaving a legacy, or donating to the Foundation?
As the Foundation is a registered charity, all legacies or bequests made to the School are exempt from UK Inheritance and Capital Gains Taxes. If you make a gift to charity, the 'net estate' is reduced by the amount of the gift. Your donation will either:
- Be taken off the value of your estate before Inheritance Tax is calculated
- Reduce your Inheritance Tax rate, if 10% or more of your estate is left to charity.
As always you should contact your legal advisor to discuss the specifics of your gift and any associated reductions to your estate's tax burden.
Types of legacy & codicils
Types of Legacy
- Residuary Legacy - A residuary legacy is a gift of the remainder (or a percentage of the remainder) of your estate after all other bequests, fees and debts have been paid.
- Pecuniary Legacy - A pecuniary legacy is a gift of a specific sum of money. It is possible to link the sum to inflation so that it retains its value over the years.
- Specific Legacy - A specific legacy is the gift of an asset or assets such as property, shares or other personal valuables.
As the Foundation is a registered charity, all legacies made to the School are exempt from UK Inheritance and Capital Gains Taxes. Currently, if you were to leave 10% or more of your estate to charity, the tax due may be paid at a reduced rate. As always you should contact your legal advisor to discuss the specifics of your gift and any associated reductions to your estate's tax burden
Codicils
A CODICIL is an addition or supplement that explains, modifies, or revokes a will or part of one. If you have already made a Will, it is possible to amend it to include a legacy to the Foundation by adding the legacy in a codicil.
If you wish to contact the Foundation to discuss your intentions, we can ensure that your specific wishes can be honoured.
If you would like to know more about leaving a legacy or making donations or if you just wish to have more information, please contact us using the RWS Foundation Website Enquiry Form in the "Contact Us" section, or by calling us on 01902 341230 and ask for the Foundation.