What is a planned gift?
A planned gift (also called a bequest) is a gift in documented in a will.
Why do I need a will?
A will ensures you are in control of your assets and outlines how they will be distributed to the people and causes/organisations that you care about.
How will my planned gift support the School?
Funds from planned gifts, unless otherwise specified are directed to the Pembroke Endowment Fund. Funds are invested in perpetuity supporting the School’s greatest needs and priorities into the future. These unrestricted planned gifts are of enormous value to Pembroke and allow the School the freedom to pursue the best strategic opportunities in the future. If you have a particular passion or interest, you may which to consider a planned gift directed to that specific purpose.
Does a planned gift have to be a certain amount?
No, there is no minimum amount for a planned gift and every gift no matter the size, is greatly appreciated.
Do I need professional advice to make a will?
We recommend using a practicing solicitor to prepare your will. Should you require a professional recommendation, Pembroke can assist by providing contact details of practitioners connected to the School community.
What if I’ve already written my will?
You can update your will at any time and do not need to change your entire will. Provided your wish is straightforward a 'codicil' can be added as an amendment. A codicil includes the date of the original will, the date of the amendment and a statement clarifying your wishes. Adding a codicil is a simple process for your legal advisor.
What is the quickest and easiest way to make a planned gift?
The easiest way to make a planned gift to Pembroke is to add a codicil to your current will.
What are the different kinds of planned gift?
Different forms of planned gifts are suitable for different acts of giving. Your legal advisor will be able to discuss options with you so that your wishes are clearly defined and your will is legally correct.
You may choose to give a cash legacy by nominating a specific amount to be given from your Estate.
You may choose to make a specific planned gift such as a property you own or an asset such as shares.
A proportional planned gift is a gift in the form of a percentage of the value of your Estate.
A residual planned gift is a gift made after all legacies have been made from an Estate and residue funds are given to a single beneficiary or shared between several nominated beneficiaries.
If you are unsure about your future circumstances, a contingency planned gift ensures that your family is provided for first.
Pembroke School appreciates the respect and trust involved in making a planned gift and receives them with equivalent respect and thought.
Is there any special wording I should use if I decide to make a planned gift?
If you would like to include a gift to Pembroke in your will, examples of will wording can be found below. Please note that the information presented here is not legal advice.
Example 1 “I bequeath to Pembroke School Endowment Fund (ABN 94 391 054 164) for its general purposes (the whole) or (a specific amount or gift) or (a percentage) or (the residue) of my estate free of all duties, and I declare that the receipt of its authorised officer shall be sufficient discharge to my trustees”.
Example 2 “I bequeath to Pembroke School Endowment Fund (ABN 94 391 054 164), (insert here the amount of money or the percentage of the residual estate and/or the specific property you want to leave) to be applied for the purposes of (insert here the special area of interest if you wish) or in a similar manner to be determined by the governing body of Pembroke School if the purpose no longer exists. I declare that the receipt of its authorised officer shall be sufficient discharge to my trustees”
Do I need to let Pembroke know I have included the school in my will?
The Claridge Harris Club was established to celebrate and recognise Girton, King's and Pembroke old scholars, staff and friends who have made a planned gift to the School. Membership is automatic with notification of a planned gift. Membership of the club provides the School with opportunities to thank you and keep you up to date with School achievements and events. You may however wish to remain anonymous.
I’m an executor of a will that includes a planned gift to Pembroke. What should I do?
Please notify us via email at firstname.lastname@example.org, or call (08) 8366 7094 so that we can assist you in a timely manner.
Will my planned gift be tax deductible?
Planned gifts are generally not tax deductible.
Can I change my mind?
Yes. You can cancel or change the amount of a planned gift at any time by making an amendment to your will.