Leaving a Lasting Legacy
Legacies are essential to Castle’s development and they place dedicated alumni at the forefront of the Trust's project to continually enhance the life of the College and our students. Deciding to leave a legacy through the University College Durham Trust, which is a registered charity in England and Wales (no. 1151821) ensures that your gift works to help the College to support its students in whatever way is most appropriate at the time of the gift being received. Legacies enable the Trust to maintain sustainable long-term financial planning, and the College is very grateful for this kind of support.
It is now nearly fifty years since I had the privilege of spending 3 years in Castle. It was a wonderful time & I made friends that I still have today. Providing this experience in this setting is costly. So that future generations of young people can continue to enjoy this, I have included a legacy to University College Durham Trust in my will.
Dave Edmonson (Castle 1965-1968)
It is possible to leave a legacy or a bequest to the University College Durham Trust by including notice of this in your will or by writing a codicil if you have already written a will. Legacies to the Trust fall outside your estate for Inheritance Tax purposes. The Government has announced that from 6th April 2012, anyone leaving 10% or more of their net estate (after deucting IHT, other exemptions and the nil rate band) will have their inheritance tax rate reduced. You can use the Government’s tax calculator to find out how much.
The Trust recommends that you contact Castle and share your wishes with University College to ensure you are appropriately thanked and that both the College and the Trust understand your gift. This helps the Master (who is Chairman of the Trust) to make long-term financial plans for development projects. If you are considering leaving a legacy, please contact the Development Office. The Master would also like to show our gratitude by inviting legacy givers to an annual dinner to recognise their life-long commitment to the College.
The Trust cannot give advice on what to put in your will – for that we strongly recommend you contact a lawyer who will be able to explain whether there are any particular tax benefits of donating that might be relevant to you. Please note that the University College Durham Trust is a charity registered in England and Wales (no. 1151821) which your lawyer should be made aware of.
Thank you for considering a gift to the Trust in your will.