THE FOOTSTEPS FUND - A LASTING LEGACY

Who Will Follow In Your Footsteps?

If a Jesuit education at St Aloysius’ College was an important factor in your life - or your child’s – then once you have made provision for family and friends, please remember St Aloysius' College in your Will by signing up to The Footsteps Fund today

Faith and Values living on through your gift

Your unique Jesuit education made you who you are today.  Reflecting on your life, it is likely that lifelong friendships, faith and values were forged during your formative years at the College.  If your life opportunities were enhanced by your Jesuit education, then including the College in your Will is wonderful way to show your support and open opportunities for the next generation of Scientists, Medics, Engineers, Educators, Entrepreneurs and Leaders; young people who will form ideas, innovate and add their greatest contribution to our world.

Established by our Jesuit founders in 1859, today the College operates independently but without an endowment cushion necessary to achieve all our ambitions. A number of Old Aloysians and one former parent have remembered the College in their Wills over the years, and gifts have come in all sizes; from a few hundred pounds, to the many thousands of pounds.  Students are currently benefitting from Bursary funds, due to the generosity of spirit of those who went before them, but the true worth goes far beyond monetary value. In joining The Footsteps Fund, we believe it is vital to honour your wishes, so you can specify how you wish your gift to be disbursed – whether in support of Bursaries, improvement of the College’s historic buildings – or where the need is greatest. Your Legacy will pave the way for future pupils at the College and we will celebrate a spirit of giving to those who have left gifts at All Souls Mass each year and your name will be entered into the St Aloysius’ College Book of Remembrance, specially noted as “Legator”.

 

  What better way to be remembered?

Joining The Footsteps Fund

For many people, they are 'asset rich' but 'cash poor'.  By pledging a gift in your Will today, you will become a “Footsteps” member, invited to special College events.
To find out how your legacy could make a difference, our Director of Development & Alumni Relations would be pleased to provide further information. 

Write to:   Caroline Notman, St Aloysius’ College, 45 Hill Street, Glasgow G3 6RJ      Email:   cnotman@staloysius.org     Phone:  0141-331-9274

 

The Facts


Inheritance Tax – current legislation

You wish to reduce the tax burden on the other beneficiaries of your estate.
The threshold for Inheritance Tax is £325,000 of an estate.
The standard Inheritance Tax rate is 40% which is only charged on the part of your estate that’s above the threshold. There’s normally no Inheritance Tax to pay if you leave everything above the £325,000 threshold to charity.

Example

Your estate is valued at £500,000 and your tax-free threshold is £325,000. The Inheritance Tax charged will be 40% of the difference, i.e., £175,000 x 40% = £70,000. 
It’s also worth noting that currently, a deceased’s estate which gifts at least 10% of its net value to charity will pay Inheritance Tax at a reduced rate of 36% on some assets.

Which type of Legacy?

Pecuniary

This is where a specific sum of money (or other asset) is left to St Aloysius’ College (e.g. £50,000).

Residuary

You may wish to leave a specific share of an estate is left to St Aloysius’ College, usually by stating a percentage or a fraction of the whole.

Indexed

To ensure that the value of the Pecuniary Legacy is protected against inflation, it is index linked.

Reversionary

This method allows you to provide for your family and friends first, then the College.  Quite naturally, many people are concerned that there is enough capital left in their estate to support their surviving spouse after they have gone. This can be ensured by both spouses agreeing to make due mention in their Will or Codicil, to the effect that the legacy to St Aloysius’ College is only paid out on the second death.

How we can help
Legal Advice
We strongly recommend that you if you wish to remember the College in your Will, you should seek professional legal advice to ensure that your wishes are recorded properly and your interests are protected.

Info for lawyers, executors
In the first instance, please contact the Development Office on 0141-331-9274.