Login [+] Improving health through research Home About Fellows Policy Careers Publications More You are here: Home About Support us Leaving a legacy Leaving a legacy Developments in medical science and medical science policy will continue to accelerate in the coming years. With your help we can ensure the Academy remains in a position to identify emerging issues and has the resources to move swiftly to address them. By leaving a legacy you will be helping to secure the future of academic medicine in the UK. Money left to the Academy provides vital funding to enable us to continue to do our work. A common misconception is that a legacy has to be a large sum of money. Of course family and friends would come first in your thoughts, but any charitable legacy left in a Will, no matter how small or how large, is hugely valuable to the organisations you support. We wish to acknowledge every legacy donation, and by letting us know your intentions, you will help us to plan for the future. Every donation we receive is important to us. If you would like to receive further information, have any questions, or would like to talk about your wishes, please do not hesitate to contact the Academy at 020 3176 2152 or treasurer@acmedsci.ac.uk, or write to The Treasurer at 41 Portland Place, London W1B 1QH. If you are considering leaving a legacy to the Academy please do complete and return our contact form so that we may acknowledge your generous support. How to leave a legacy Types of legacies Recent tax changes Leaving a legacy to the Academy of Medical Sciences involves including a short paragraph (clause) in your Will. Click here to view suggested wording. If you have already made a Will and the only change you want to make is a bequest to the Academy of Medical Sciences, you can do so by completing a Codicil form which can be completed at any time and becomes a legal document when signed in the presence of two adult witnesses (not relatives). We would always recommend consulting a qualified solicitor when drafting or making changes to your Will. Information to include in your Will If you choose to donate to the Academy, it is necessary to include our name, our address and our registered charity number in your updated Will: The Academy of Medical Sciences, 41 Portland Place, London W1B 1QH Charity No. 1070618 Company No. 3520281, Registered in England Residuary Bequest This enables you to leave the Academy all or part of the remainder of your estate after other legacies and charges have been met. Pecuniary Bequest This is a specific sum of money to be given to the Academy. If you wish to leave this form of bequest it is advisable to index-link the gift to inflation. Specific Bequest This enables you to leave the gift of particular assets to the Academy, such as gifts of shares, property or other physical items. Reversionary Bequest A reversionary bequest enables you to choose the Academy to be an ultimate beneficiary of your Will, but it allows you to ensure specific assets are available for others in their lifetime. For example, you may wish to leave a property for the use of your spouse during their lifetime. Your solicitor will suggest the specific wording for you to make this type of gift. In memorium donations Instead of funeral flowers, mourners can be asked to make a donation to the Academy in your memory. We would acknowledge all donations and, if applicable, notify next of kin of this generosity. For privacy, we would not disclose the gift amounts. Inheritance Tax: 2011 Budget changes Important changes were announced to Inheritance Tax (IHT) in the UK Government’s 2011 Budget, effective from 6 April 2012. Your solicitor or accountant will be able to advise you further. In short, amounts left in your estate after relevant exemptions and reliefs, which are above the IHT threshold, are subject to IHT (in 2011 this stands at 40%). However, new schemes of tax relief introduced for 2012 mean that a donation of 10% of your net estate to charity will reduce the IHT rate from 40% to 36%. Changes in IHT when an estate includes more than just the assets that are available for distribution under the terms of a Will are complex - we strongly advise that you discuss your plans with an accountant to obtain accurate tax advice. More information on IHT changes can be found at:www.hmrc.gov.uk/cto/iht.htm Downloads Legacy Codicil form Download Legacy contact form Download Legacy suggested wording Download Policy on accepting donations Download Most viewed Recently updated Ordinary Fellows Read more Publications Read more Other resources Read more View more Reproducibility and reliability of biomedical research Read more Team science Read more NHS England's draft Research and Development Strategy Read more View more Laura Marshall Fundraising Officer laura.marshall@acmedsci.ac.uk Tel: 020 3176 2198 Policy focus Ensuring a first class workforce View now Events Calendar Career development events View now Contact us The Academy of Medical Sciences 41 Portland Place London W1B 1QH Tel: 020 3176 2150 E-mail: info@acmedsci.ac.uk Latest tweets from @acmedsci Keep in touch Select which update you would like to receive Academy newsletter Mentoring and Careers bulletin Publication and Press announcements 41 Portland Place newsletter Venue hire Room hire at the Academy's headquarters 41 Portland Place Quick links Home Press Office Policy Academy President Staff directory News Publications Careers Election to the Fellowship Governance About Fellows Mentoring Funding schemes History Events Job vacancies Academy of Medical Sciences' FORUM Fellows directory Follow us /acmedsci /acmedsci /acmedsci /acmedsci /company/acmedsci © The Academy of Medical Sciences 2013 | Cookie Policy | Privacy Policy | Terms of Use | Accessibility Site by alt