"WE MAKE A LIVING BY WHAT WE GET, BUT WE MAKE A LIFE BY WHAT WE GIVE"
Writing a Will can be an inspiring opportunity to make a lasting difference to the wider world. Remembering the University of Suffolk in your Will is a powerful and significant gift, one we would be honoured to receive. The University is embedded in the communities it serves and all gifts from donors make a significant difference to education, research, aspiration-building, entrepreneurship and social mobility in Suffolk. Legacy gifts will help to shape our future, make bigger impacts on our students and staff, help us develop new academic areas and open more doors for our communities across Suffolk. If you are considering leaving a gift to the University of Suffolk in your Will, please contact us to discuss further on 01473 338737 or email firstname.lastname@example.org
The Wolsey Circle is our special giving circle to recognise individuals, in their lifetime, for the pledges they have made to the University in their Will. The Wolsey Circle is named in honour of Cardinal Thomas Wolsey who started the story of higher education in Suffolk over 500 years ago. Members of the Wolsey Circle are invited to an annual dinner with our Vice-Chancellor and members of our Board. They form an extremely important and valuable group, who are highly regarded by the University and engaged regularly for their views, ideas, support and advice.
How do I recognise the University in my Will?
The University of Suffolk advises that you consult a solicitor about the specific wording used to recognise the University in your Will. This will ensure that your Will is legal and that all your wishes can be acted upon.
You can choose to leave a legacy in a number of ways:
A Residuary Bequest
A gift of the residue (or a share of the residue) of the estate. Residue is whatever is left after all debts, funeral expenses, certain other costs and tax and any other legacies have been deducted. The value of this kind of gift is least likely to be affected by inflation.
A Pecuniary Legacy
A gift of a fixed sum of money. The value of a pecuniary gift is likely to decrease over time, as the cost of living increases.
A gift of a particular named item - for example, a piece of jewellery, furniture, a painting, buildings, land, house contents, chattels, shares etc.
A gift that is dependent upon the occurrence of an event which mayor may not happen. For example, a gift which applies only if other beneficiaries named in a Will die before the individual dies.
A Codicil can be used if you have already made a Will but would like to update or change it. This allows you to add more gifts or change the amounts being shared without having to make a new Will.
Unrestricted or Restricted
Leaving an unrestricted legacy to the University which can be used for the greatest need when your gift is received will ensure we can make the best use and the biggest impact with your gift. However, we recognise the great significance of you remembering the University of Suffolk in your Will and that you may prefer to remember a specific project or department. Should you wish to do this, we ask that you inform us in advance of formalising your Will to ensure that the project, department or course is sustainable, and that your gift can be used in the best way possible.
Leaving a legacy in your Will to the University may significantly reduce the amount of tax payable on your estate. Currently in the UK the rate of Inheritance Tax is normally 40% but this is reduced to 36% if more than 10% of your estate is left to charity.
Is it possible to have something named in my honour?
The University will recognise all gifts, including those pledged in a Will, in the most appropriate ways. We are very happy to discuss ideas or suggestions on how you would like to be recognised for your gift and will strive to fulfil all requests as far as possible.
Please contact us to discuss possible gifts and recognition on 01473 338737.
What happens after I have included the University in my Will?
If you have chosen to recognise the University in your Will, we would be most grateful if you could inform us of your decision. You are not obligated to make us aware of your intentions but if you choose to do so we are able to recognise and thank you for your special commitment. Please complete the University of Suffolk Legacy Pledge form and preferably return it with a copy of your Will or the relevant section of your Will.
To find out more about remembering the University of Suffolk in your Will or other ways you can support the University, please contact us for a confidential conversation.