8 T e Good Life Retirement planning, fi nance & legal


Back to university G


ifting in Wills is becoming big business thanks to the ageing baby boomer generation and spiralling


property prices leaving many with sizeable estates they wish to use for good after their death. One route for those so inclined


is to leave money to their old university, which is now a far less complex process than in the past. T e professionalisation of university funding departments, which see legacy gifts as a vital source of income, means most off er all the advice and assistance needed to help you arrange your gift. According to the University of


Sheffi eld’s senior philanthropy manager for legacies, David Meadows, “T e main reason people give is because they have a passion for supporting education and want to say thank you for the opportunities the university gave them.”


Diff erent types of legacy gifts If you decide to give back to your old university, the big question is — which kind of fi nancial legacy is most suitable? “You can target where your bequest


should go, allocating it to a particular area of learning that’s important to you”, says David. “Universities now


off er loads of support for a vast range of gifts, which makes the whole process much easier.” T ese bequests traditionally


include student scholarships, bursaries and prizes, which can be named in your honour, allowing you to be remembered long after you’ve gone. T e funding of medical research is also popular. And if you weren’t the most dedicated academic, you can even ensure your gift goes towards enhancing the student experience, buying anything from shuttlecocks to saxophones for the various clubs and societies that make up university life. It’s here where you may need


guidance regarding the areas you want to support. University legacy teams off er stewardship of your donation and can provide suggested wording for codicils and Wills to help future-proof the gift. Some even off er a service where they write your Will for free as long as you make a donation. It’s also worth noting, with universities’ exempt charity status, giving can reduce the tax payable on your estate after your death. T e alternative is a no-strings-


attached bequest, which allows the university to use it where the need is deemed greatest. In recent years, with the introduction of tuition fees, gifts have been helping


Promotional Content • Saturday 2nd April 2022


Legacy gifting to your former university may pose a few questions, but help is on hand to guide you through the process. Words: Colin Birch


to alleviate student hardship and widen attendance among under- represented groups. If you don’t have much to give,


fundraisers stress that the size of your legacy isn’t important; small amounts combined can help bolster funding from other research bodies or go towards hitting general fundraising targets.


Gifting during your lifetime Universities are also keen to encourage donations from potential legacy givers during their lifetime, so they can witness the results of their philanthropy. John Hopkins graduated from the University of Sheffi eld in 1960, and, along with his late brother Roger, asked the university’s Law School to come up with a prize in honour of their mother, the city’s fi rst female barrister. T is now funds visits by law students to schools in the city’s poorer areas to raise awareness of law as a study choice and career. “Our donation went into an


endowment fund with a guaranteed interest rate, which pays for the annual award, but I’ll also be giving to the university in my Will”, says John. “I’ve been treated very sympathetically throughout the whole process by the legacy team.”


PHOTOGRAPH: GETTY


National free Will’s Month - Make a difference


This year the Huntington’s Disease Association marks its 50th year of supporting people with Huntington’s disease.


Huntington’s disease is a rare hereditary genetic condition that currently has no cure. We’re here to help people living with Huntington’s disease to live a better life. We improve care and support services for people with Huntington’s disease, educate families and professionals, and champion people’s rights.


March is Free Wills Month, you can use this time to make or amend your Will for free and leave future gifts for the people and causes you care about. It will cost you nothing during your lifetime, but could one day make a difference to the lives of families living with Huntington’s disease.


Get in touch to find out more. Email: fundraising@hda.org.uk


Tel: 0151 331 5444 www.hda.org.uk


Registered Charity No. 296453


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