Leaving a legacy or Donation to the Shuttleworth Collection
We understand that when it comes to your will, your family and loved ones must come first. But once you have cared for them, can you help our work live on and keep the aeroplanes flying.
The Collection is enormously grateful for every donation received regardless of its value. Each person who supports the Collection becomes part of our unique history and, more importantly, our future. Shuttleworth is an independent collection and a registered charity that does not receive any funding from Government or local authority.
What are the different types of legacy that I can leave?
Providing for your loved ones is the most important thing to consider when writing a Will. However, once they have been considered you may wish to leave a gift to support our work.
One way of doing this is to include a residuary legacy to us this is a percentage of your estate after everyone else has been provided for.
You could also consider the following types of gift:
A gift of a fixed sum of money. The value of pecuniary legacies will decrease over time, as the cost of living increases.
A particular named item left as a gift in your Will is known as a specific legacy, for example, an antique piece.
Legacies made on the basis of another event happening first are called contingent gifts. For example your Will could state that a gift only applies if all other beneficiaries named in your Will die before you do.
A reversionary legacy is a gift which someone can benefit from in their lifetime. For instance, your house could be left for the use of a relative. When they die it could pass to someone else, or to a charity.
What do I need to do?
Simply let your solicitors know that you would like to include a gift to the Shuttleworth Collection and provide our full address and charity registration number:
The Shuttleworth Collection
Shuttleworth ( Old Warden )Aerodrome
Biggleswade Bedfordshire SG18 9EP
Charity registration No.307534
I bequeath to the Shuttleworth Collection
(Registered Charity No.307534),
Shuttleworth (Old Warden Aerodrome), Biggleswade, Bedfordshire, SG18 9EP, for its general charitable purposes
(insert one of the following options)
all the residue of my estate
one X share of the residue of my estate
X% of my estate
the sum of £.........
the following personal items
any terms of restriction as to the way the money should be spent
and the receipt of their responsible officer / Trustee shall be good and sufficient discharge to my Executors.
Can I avoid Inheritance Tax?
Leaving charitable gifts in your Will can certainly help you to reduce the value of your estate liable for Inheritance Tax. The current taxable threshold stands at £325,000. Above this amount, subject to certain provisions and exemptions, everything can be taxed at a rate of 40%. Charitable gifts are tax exempt, and so by leaving a gift to the Shuttleworth Collection you could reduce the amount of tax paid after your death.
For further information or assistance contact SVAS Representative Alan Reed 01767 627909 (Answerphone) or email Alan Reed at Svas@shuttleworth.org