Legacies
You may wish to help the Instrument Loan Scheme by means of a legacy. Here is some information about legacies and all the relevant forms if you wish to do help in this way. Please note that these legacy forms are different from those provided in the Benslow Music Trust section of this website.
Conditional Gifts
A gift may be subject to express condition(s) or stated to be for a specific purpose only, which prevents the Benslow Instrument Loan Scheme from treating it as part of its general funds. In such circumstances, we may have to register the gift as a separate charity or subsidiary and/or show the income separately our accounts. Any specific purpose must be charitable or we may be unable to accept the gift, and the tax relief may be prejudiced.
Inheritance Tax
Gifts to charities are usually exempt from UK inheritance tax, although there are some exceptions. If an estate is split equally between us and a non-exempt beneficiary, our share will not generally be reduced by reason of any inheritance tax paid in respect of the other beneficiary’s share. Thus if tax is payable, the net amount received by us would be greater than the amount received by the other beneficiary. If this is not what you intend, then please take take specific advice.
Explanation of Forms
There are two basic types of legacy form:
- General Purposes - for use if you wish to leave either money or a gift for unspecified use (our preferred option)
- Specific Purposes - for use if the person wishes to name a particular purpose for the bequest, thus limiting the use to which we can put it. This is a less recommended option.
Each of the following types of legacy has forms for both General Purposes and Specific Purposes. Click the link to download the relevant form. Forms are provided in Adobe Acrobat format. Should you have difficulty with these forms, please let us know.
Pecuniary Legacies
These forms are for use for gifts of money, either Pecuniary for General Purposes (help with download) or Pecuniary for Specific Purposes (help with download).
Specific Legacies
These forms are for use when leaving a specific item(s) to the charity (e.g. an instrument), either Specific for General Purposes (help with download) or Specific for Specific Purposes (help with download).
Residuary Gift
Use either the Residuary for General Purposes (help with download) or Residuary for Specific Purposes (help with download) form if you wish to leave all that is left in your estate after any debts, funeral and testamentary expenses have been paid.