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Over the years, the school has benefited from the generosity of those who have remembered us in their Will, leaving the school both large and smaller sums. If you have already included Christ College Brecon in your Will or are planning to do so, we would be delighted to hear from you. We would like to thank you by involving you in the 1541 Club. Please contact the Development Office on 01874 615483 or martyn.thomas@christcollegebrecon.com
FREE WILL WRITING SERVICE FOR OBs
We have partnered with H. Vaughan Vaughan & Co a firm of local solicitors with strong links to Christ College, to offer a free Will writing and consultation service.
Christ College are offering you a chance to have your Will written for free.
Making a Will is an important way to ensure your wishes are respected after you are gone. By taking the time to create a Will, you can ensure that your family, friends, and favourite charities benefit in the ways that you would want them to. It also gives you the opportunity to decide who will manage the distribution of your assets.
Christ College is pleased to offer Old Breconians the opportunity to write or update their Wills free of charge through one of our affiliated local Solicitors. This is an invaluable opportunity to ensure that your affairs are in order and your wishes are recorded accurately. Having a Will in place ensures that your wishes are known and gives you peace of mind that your estate will be distributed in accordance with your wishes.
Our affiliated Solicitors are highly experienced and can provide advice on all aspects of estate planning including taxation, trusts, and the appointment of executors. They will advise on the most effective way to structure a Will and to ensure that it is valid and legally binding. They can also help with the creation and signing of Codicils, which are amendments to an existing Will, as part of the free service.
They are able to access appropriate financial advice to plan your estate in the most tax efficient manner. Such advice and related work would be subject to charges to be agreed between you and the solicitors.
The will making service is free of charge; however, if you choose to leave a donation to Christ College, this would be gratefully received. If you would like to take advantage of this free Will service, please contact the Development Office who are coordinating the scheme and will provide you with the Solicitors’ details. You are also welcome to contact the Development Office if you have any questions or would like more information.
How the scheme works
H. Vaughan Vaughan & Co, a local law firm, authorized by the Solicitors Regulation Authority, has agreed to offer a free Will drafting service to Old Breconians and their partners. H. Vaughan Vaughan & Co recognise the ethos which exists within the alumni of independent schools and also have strong connections to Christ College (through James Davenport, Anthony Mears and Jonathan Arter).
Should an existing Will require updating or a new Will be required to reflect current circumstances, the solicitor will not charge the client for this work. Instead, the Foundation will pay a significantly reduced fee to the law firm for such legal work.
This is a great opportunity for alumni, and their partners to ensure that their wishes are met in the event of death. The review will also provide an opportunity to update details such as beneficiaries, trustees and executors. All of this can be done in a free and confidential consultation with an appropriately qualified solicitor. So, if you are an Old Breconian, you can take advantage of this offer and make sure that your estate is carefully planned for your future.
We hope that Old Breconians who take advantage of the scheme will consider leaving a gift to the Christ College Foundation in their Will and become members of the 1541 Society, but there is no obligation to do so. The 1541 Society offers Old Breconians the chance to be part of a network of people who share a passion for the school and for supporting its future. It is an opportunity to leave a lasting legacy and to ensure that future generations of Breconians benefit from your generosity.
How you can reduce your inheritance tax bill by giving to charity
What are the ground rules?
The law relating to IHT is complex and each individual case needs to be assessed on its merits. Different charges apply based on a number of scenarios and expert advice is recommended. Further, it is possible that the law may change in in this area in the near future.
As a basic principle, and if none of the exemptions apply, if your estate is worth over £325,000 when you die, Inheritance Taxis is payable at a flat 40%, but if you leave 10% of your estate to charity, the tax due may be paid at a reduced rate of 36% instead of 40%.
How does the reduced rate work?
· Any gifts you make to a ‘qualifying’ charity – during your lifetime or in your will – will be exempt from Inheritance Tax.
· To qualify for the reduced rate you must leave AT LEAST 10% of the net value of your estate to a qualifying charity.
· The net value of your estate is the sum of all the assets after deducting debts, liabilities, reliefs, exemptions and the nil-rate band.
For further information ask your solicitor or go to the HMRC website at www.hmrc.gov.uk/inheritancetax
