The gift of a legacy or bequest is one important way in which those who wish to support Aldenham financially can do so.  The Richard Platt Society was established in 2004 to honour those people who have informed the School that they intend leaving a legacy to Aldenham in their will. 

Richard Platt was the founder of Aldenham School and his name was chosen for the Society as in his own will he left orders for the establishment of the School and he acknowledged his own fortune as being “myne owne inheritance lefte me by myne Auncestors as well for the instruction of poore mennes children”.  By leaving a legacy or gift to Aldenham you can follow in the footsteps of our founder.

A LEGACY FOR THE FUTURE

If Aldenham is to continue to attract the quality of student that is synonymous with the School, we need to be in a position to have a secure Bursaries Fund and to offer academic, cultural and sporting facilities that will attract those students to Aldenham. 

We know that many people are constrained from giving as much as they would like during their lifetime by the numerous financial pressures that apply to most of us.  Leaving a legacy can be an appropriate solution, both for the donor and for Aldenham School, because it can enable you to give a gift which makes a real difference to the future of Aldenham to do so.

TYPES OF LEGACY

1. The pecuniary legacy

 This simple form of legacy allows you to leave a specific amount of money to Aldenham. The disadvantage of this method is that the value would decrease in times of inflation.

2. The residuary legacy

You can use this method to protect the real value of your gift. A percentage of the residue of your estate, after any specific bequests have been made, would be left to Aldenham.

3. The reversionary legacy

This is an attractive method of providing for your family first. Some or all of your assets would be held in trust, with the trustees directed to pay the income from them to your family during their lifetime. Only upon their death would Aldenham benefit from the sale of the assets.

4. Specific legacy

You can leave a specific asset or personal possession to Aldenham, including land, property, jewellery, antiques, works of art, or stocks and shares.

SAMPLE LEGACY WORDING

You should always consult your solicitor about items relating to your estate plans, as there are many requirements to meet and many variations in each personal circumstance. However, some general wording to share with your solicitor would be as shown below, which includes alternative wording for different types of gifts:

"I/We give free of tax to the Governors of Aldenham School (Charity Registration No.298140)

EITHER
the sum of £___________

OR
______% of the residue of my estate

OR
the sum of money ('the Index-Linked Sum') produced by dividing the sum of £_______('the Original Amount') by the index figure in the Index of Retail Prices ('the Index') for the month in which this Will/Codicil is executed and multiplying it by the index figure in the Index for the month in which my death occurs Provided That if the Index is no longer in existence at the date of my death or the basis of its computation has been altered my Trustees shall compute the Index-Linked Sum in accordance with such formula as seems in their absolute discretion to be fair and reasonable so as to enable the Original Amount to be increased in accordance with inflation

absolutely and I/we direct that the written receipt of the person appearing to my Trustees to be the treasurer or other competent officer for the time being of Aldenham School shall be a full discharge to my Trustees who shall not thereafter be concerned as to the application of this gift."

TAX

With contemporary property prices, estates that are subject to Inheritance Tax are ever more commonplace, even with an annual increase to the threshold.  However, because of Aldenham’s charitable status, all bequests received are exempt from Inheritance Tax.  The effect of this can be to reduce the real cost of a bequest by up to 40%.

HOW WILL ALDENHAM USE YOUR GIFT

You are encouraged to leave the use of your gift to be decided at the discretion of the Aldenham Governing Body.  However, all preferences noted in your estate plans will be respected to the full extent possible.  You may wish to think about designating your gift to: Important Capital Projects, Bursaries, or the Discretion of the Board of Governors.

The School will, of course, honour the privacy of any legacy donor who wishes to remain anonymous. 

Should you have any questions, please contact:

Ann Saffery
Development Manager

Aldenham School

Tel: 01923 851612

Email: aesaffery@aldenham.com