DEVITT LEGACY SOCIETY
Your will is a means to provide for your friends and family, to support the causes you believe in and to acknowledge the influences that have shaped your life.
Supporting the future
Whether you wish to express your gratitude for the education you or your child received or to influence future generations, leaving a gift in your will can help secure the College and ensure the education of future generations.
The history of the Devitt Legacy Society
Since its foundation, legacies have played, and continue to play, a major part in the history of Pangbourne College. The Devitt Legacy Society is named after Sir Philip Devitt (1876-1947), the fourth son of founder, Sir Thomas Lane Devitt. Philip played a key role in the creation of the Nautical College Pangbourne. In 1921, with his father in poor health, Philip invested much of the family fortune to save the College from bankruptcy and to ensure its thriving future. Leaving a legacy to Pangbourne is an excellent way to ensure our Founders’ vision can continue for the benefit of future generations of Pangbournians.
Recognising our supporters
If you intend to leave a gift to the College in your will or indeed have already done so, you are eligible for membership to the Devitt Legacy Society. Members of the Society will be invited back to the school to see the developments and achievements of the school. Members will also receive information and invitations to College events.
The President of the Society is Mark Dumas (H, 64-68). Members have the opportunity to be listed in the annual Donors Report, to encourage others to follow their example.
The benefits of leaving a legacy in your will
Legacies made to charities are currently exempt from Inheritance Tax (IHT). As an example, if you choose to leave £10,000 to a charity, this would save your estate 40% in IHT (£4,000), thereby 'costing' a donor's estate just £6,000. Under current legislation, a deceased's estate that gives at least 10% to charities reduces the amount of IHT paid from 40% to 36%. Consequently, if you leave 4% to charities, you could leave 10% and the net effect to the other beneficiaries will be identical. Pangbourne College is a registered charity (no. 309096)
How to leave a gift in your will
There are four main types of gift that you can make in your will, and we recommend that you seek professional advice in deciding which is most appropriate.
RESIDUARY
A residuary gift enables you to give a specific share of your estate to Pangbourne College, usually by stating a percentage or a fraction of the whole.This gift has significant flexibility as you do not have to quantify the sum or take into account inflation when you draw up your will.
PECUNIARY
This is the simplest form of legacy when a specific sum of money (or other asset) is left to Pangbourne College.
REVERSIONARY
This type of legacy allows for your estate, or particular assets, to be passed onto your spouse, children or other named individuals, for their lifetime. On their death the whole or a portion of these assets revert to Pangbourne College.
CODICIL
If you have already made your will, you can make an amendment by codicil to include Pangbourne College.
Please be in touch
If you have chosen to support Pangbourne College in your will, we would be grateful if you could inform us by completing the donation form (download below). This ensures that all aspects of your plans are fully understood and means we can thank you appropriately. It does not represent a binding commitment, and your plans will be treated in the strictest confidence.
