Bequests are normally written into a will when it is drawn up. However, if you have already made your will, adding a Codicil is all that is required to make a simple cash bequest to the College.
You should make a Residuary Legacy if you wish that, after you have provided for your family, the remainder of your estate should pass to the organisation or person of your choice. Usually expressed as a percentage of estate, this gift has more flexibility than a specific money gift because you neither have to quantify the sum, nor take into account inflation when you draw up your will.
You should make a Pecuniary Legacy to give a set amount to the College. A simple method of making your gift, the disadvantage is that its value will, over time, decrease owing to inflation.
You should use a Specific Legacy if you wish to leave specific personal possessions. For example: property, jewellery, antiques, works of art, and stocks and shares.
To make a real impact now, use a Deed of Variation. If you wish to consider transferring the whole, or part, of your inheritance to St Anne’s this can be done using a Deed of Variation. The amounts thus transferred are free of Inheritance Tax. To make a Deed of Variation, you simply have to contact your solicitor.