Types of Legacy

Residuary  legacy
A gift of all or a percentage of your estate after other legacies and liabilities have been paid. The advantage of a residuary legacy, unlike the pecuniary gift, is that it holds its real value, regardless of inflation. A particularly popular way to leave a gift to a charity.

Pecuniary legacy
A gift of a specific sum of money. To ensure your gift keeps its value in line with inflation, it can be linked to 
the index of retail prices.

Reversionary legacy
A gift of assets to the College whilst giving your spouse or wider family the benefit of them during their lifetime.

A Deed of Variation
If you are a beneficiary of a Will, you can transfer all or part of your inheritance to the College under a Deed of Variation. Gifts transferred in this way are free of Inheritance Tax, and allow LMH to benefit during your lifetime.

Tax benefits 

Including LMH in your Will is a straightforward and fulfilling gift to make and, depending upon where you live in the world, there are also a number of financial advantages.

LMH is a registered charity (no. 1142759) and this means that there are financial benefits to leaving a legacy to us. In the UK, making a bequest to a charitable institution is free of Capital Gains Tax and Inheritance Tax (IHT). By remembering the College in your will, you can reduce the taxable value of your assets and so reduce the amount of IHT payable on your estate. Gifts may be in the form of money, property, or other valuables.

Currently, if you leave at least 10% of your estate to charity in the UK, your estate will be able to take advantage of a reduced rate in IHT, from its current level of 40% to 36%. If you live in North America and would like to learn more about Planned Giving options in the United States, please contact Americans for Oxford Inc., the University’s primary charitable organisation in the United States.