Alumni and supporters

Legacies - your questions answered

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Questions

I would like to remember the University in my will. Who should I contact?

Can I specify which part of the University I would like to support with my legacy?

How can I include the University of Reading in my will?

Can you provide some suggested wording for my will?

I already have a will. How can I include the University of Reading?

Do I have to let the University know if I am leaving a legacy?

How will my legacy pledge be recognised?

What types of legacy are there?

Are there any tax benefits to leaving a legacy to the University of Reading?

Can the University benefit from my pension arrangements?

I would like my legacy to be invested in perpetuity as an endowed gift. How can I do that?

Answers

I would like to remember the University in my will. Who should I contact?

If you would like to speak to somebody in confidence about including a gift to Reading in your will, please contact:

Edd Pickering
Head of Individual Giving
Telephone: +44 (0)118 378 5238
Email: e.w.pickering@reading.ac.uk

Can I specify which part of the University I would like to support with my legacy?

Yes. A gift in your will can either be ‘unrestricted’ or given to support a particular area of the University’s work. If you are planning to leave a legacy for a specific part of the University, or for a named prize or scholarship, we would be delighted to discuss this with you so that we can fully understand your wishes and ensure that your gift is used appropriately.

The University’s needs and priorities are constantly evolving, so gifts that are not tied to a specific area are always particularly welcome. These unrestricted gifts enable the University to provide funding for those projects that are most in need of support at the time of receipt.

We would be happy to discuss your intentions with you, to ensure your legacy gift makes an impact on the area of the University’s work you care about most. Please contact Edd Pickering on +44 (0)118 378 5238 or email e.w.pickering@reading.ac.uk

How can I include the University of Reading in my will?

The most important thing to include is the University of Reading’s Exempt Charity number (X8145), which will ensure your gift is treated as a charitable donation, free of UK inheritance tax.

Legacy gifts are administered through the Campaigns and Supporter Engagement Office, and including the full address can help make it easier for your executors to deal with the right office.

Please include the following details:

Campaigns and Supporter Engagement
University of Reading
Whiteknights
Reading
RG6 6AH
Exempt Charity number – X8145

Can you provide some suggested wording for my will?

We are always happy to discuss your will wording and draft some ideas for you to consider and discuss with your solicitor. For more details about suggested wording for your will, please contact Edd Pickering on +44 (0)118 378 5238 or email e.w.pickering@reading.ac.uk

Please note that the University is not able to offer any legal or financial advice on will-making or estate planning. We strongly advise that you seek professional advice from a solicitor before drafting a new will or updating an existing one.

I already have a will. How can I include the University of Reading?

You can add a legacy gift to the University by simply adding a codicil to your existing will, using a codicil form.

Do I have to let the University know if I am leaving a legacy?

If you intend to leave a legacy to the University, we would very much like to hear from you so that we can thank you. You can let us know by completing a legacy pledge form. This is not a legally binding document; it simply enables us to thank you, and to communicate with you appropriately in the future. There is no obligation for you to tell us any of the details of your legacy, although this can help us ensure your gift is directed according to your wishes.

How will my legacy pledge be recognised?

Each and every legacy pledge is of great value to the University, and is very much appreciated. Everyone planning to leave a gift in their will to the University of Reading is invited to join the Palmer Society, named after the Palmer family whose philanthropy in the early days of the University was so fundamental in shaping the University we know today.

As a member of the Palmer Society, you will receive invitations to attend special events and receive communications on how legacy giving is making a crucial difference at Reading.

What types of legacy are there?

The main types of legacy gifts are as follows:

  • Residuary – a percentage, or all, of your estate (after debts, funeral costs and pecuniary gifts are paid).
  • Pecuniary – the gift of a specific sum, which can be index-linked to safeguard its future value.
  • Specific – the gift of a particular item to be used or sold by the University.
  • Reversionary – this type of legacy allows you to leave your assets to your friends and family for their lifetime, after which the gift will revert to the University of Reading.

Are there any tax benefits to leaving a legacy to the University of Reading?

Yes. The University of Reading is an exempt charity (charity number X8145) and any gifts left to the University in your will are completely free of UK inheritance tax.

You may be interested to hear that any estate which leaves at least 10% of its taxable wealth to a charitable cause can now take advantage of a reduced rate of inheritance tax, from its normal level of 40% down to 36%. For more information about the changes please visit the Legacy 10 website.

Can the University benefit from my pension arrangements?

Yes, if you have a life assurance provided by your employer’s pension scheme, or you are currently withdrawing income from a personal pension fund, you can nominate the University of Reading as a beneficiary. This is an extremely tax-efficient way of supporting the University.

I would like my legacy to be invested in perpetuity as an endowed gift. How can I do that?

Setting up an endowment is one way of ensuring that your donation will make an impact on people's lives for many generations to come. Because your gift is invested, the capital of your gift would remain untouched, and the interest it generates would be used to continue your legacy indefinitely for the future. 

If you would like to discuss any specific legacy intentions relating to endowments, or if you have any other questions which have not been answered above, please contact Edd Pickering, Head of Individual Giving on +44 (0)118 378 5238 or email e.w.pickering@reading.ac.uk

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