Since 1541 Christ College has depended on, and benefited from, the generosity of many who have who shared the vision of the College’s founders. Supporting Christ College Brecon with a gift or donation in your Will is a highly personal way of giving that has a lasting impact on future generations. You can choose to donate a specific sum, a share of your estate, or other assets such as stocks and shares. Making a bequest to charity can also lessen the burden of inheritance tax on your executors.
Many people have multiple demands on their finances which might preclude them making a gift in their lifetime. Equally, they may have been supporters of CCB in their lifetime and wish to make a final gesture of support. A legacy can be a final tribute to CCB, a gift which endures in perpetuity, and one which can be put towards any number of areas of CCB’s work. Bequests are exempt from inheritance tax (IHT) and for estates leaving 10% or more to charity, there is a reduction in IHT from 40% to 36%.
With a legacy bequest, you may specify how your legacy will be used by CCB. You can choose to support a specific area, such as bursaries, scholarships, capital projects, or unrestricted funds. If you choose to remember CCB in your Will, the most common methods are as follows:
A Residuary legacy - A gift of all, a percentage of, or a share of your estate after expenses, pecuniary and specific bequests. This type of gift cannot be eroded by inflation.
A Pecuniary legacy - A gift of a specific sum of money. As the value of a specific sum decreases over time with inflation, this may be index-linked to maintain its current-day value.
A Reversionary legacy - Allows named persons to benefit from your assets until their death, at which time the remaining assets are transferred wholly or partly to CCB.
A Specific Bequest - A gift of a specific asset e.g. a house, shares, or a work of art. These assets will be excluded from your estate valuation and are not liable for inheritance tax.
A Substitutional legacy - A gift of your estate to other persons which reverts to CCB if they predecease you. Life Assurance - By taking out a policy naming CCB as a beneficiary, you can provide a substantial gift for the school with relatively modest premiums.
Keeping CCB Informed If you are comfortable doing so, please let us know if you intend leaving CCB a legacy or bequest. Such a pledge does not bind you in any way, but it does give us the opportunity to share pertinent news with you, and, most importantly, to thank you for your support. Your response and any subsequent correspondence or discussion will be treated in the strictest confidence.