Leave a gift in your will

Leaving a gift in your will - FAQs

To make leaving a gift in your will to King’s as easy as possible, we have complied a list of the most commonly asked questions we receive about legacy giving. If you cannot find the information that you are looking please contact our Legacy Team.

 

Does King’ College London have charitable status?

What is King’s College London’s full address?

What are the different areas that my legacy could support?

Can I leave a gift to the medical or dental school at Guy's, King's College and St Thomas' Hospitals?

What are the different types of Legacy gift?

Can you help me with suggested wording to leave a gift in my will?

Can I add a gift to King’s to my existing will?

What information do I need to give to my solicitor?

What are the Inheritance Tax benefits of leaving a legacy to King's?

What impact could my legacy gift have on the university?

Do I need to let King’s know about my legacy intensions?

How do I let King's know my intensions for my legacy gift?

 

Does King’ College London have charitable status?

Yes, King’s College London has charitable status for all UK tax purposes and is an ‘exempt’ charity under Schedule 3 of the Charities Act 2011, consequently it does not have a Registered Charity Number.

The School of Medicine and the Dental Institute at Guy's, King's & St Thomas' Hospitals are two of the nine academic schools of King’s College London. For legal and tax purposes your bequest must be directed to 'King’s College London', however you can name a particular school or faculty as a beneficiary within King's.

 

What is King’s College London’s full address?

To ensure you properly name King's as a beneficiary of your estate, please include the university's full address when drafting the wording for your will: 

King’s College London of Strand, London WC2R 2LS

 

What are the different areas that my legacy could support?

There are many different areas that your legacy gift could support. Here are a few of the most popular:

Areas of greatest need - You can meet the most pressing needs of the university’s future by allowing the reigning King’s Principal to decide where your legacy gift would be most effective at the time it becomes active. This allows it to be used where the funds can make the greatest difference at that time.

Scholarships and Hardship - Your legacy could help provide hardship grants or bursaries to support exceptional students no matter what their financial background, or your gift could establish a scholarship to help encourage the best and brightest students choose King's and help maintain our reputation for providing world-leading education. If you would like some more information about scholarships or setting up a named bursary or endowment, please contact our Legacy Team.

Research - By leaving a gift to support research at King's you are leaving a gift to future society. Our research spans many fields from finding new and more reliable ways to treat and diagnose cancer to how we can support the needs of an aging population. If you are interested in leaving a gift to a specific area of research please get in touch with our Legacy Team to discuss how you can organise your gift in a way that is flexible so that your wishes are able to be carried out even if the research landscape changes over time.

Library - By leaving a gift to the Library you are ensuring that future students have the resources they need to study, learn and maximise their potential. Supporting the Library with your legacy ensures that there are ample copies of the most up to date key texts and that our students have access to the latest research through print and online journals.

An area of greatest need within your department or School - If you wish, you can suggest a department where you would like your gift to be directed. Over time, departments or research areas change. Before making your gift, please talk to our Legacy Team to ensure your will wording is written in a way that is flexible to ensure your wishes are able to be carried out in future years.

Can I leave a gift to the medical or dental school at Guy's, King's College and St Thomas' Hospitals?

Yes. The teaching of Medicine and Dentistry continues to be undertaken at Guy’s, King’s College & St Thomas’ Hospitals, as many of our alumni remember receiving their education prior to the mergers of the Medical and Dental Schools.

To name the School of Medical Education or the Dental Institute as beneficiaries in your will, for legal and tax purposes your legacy gift must be directed to 'King's College London of Strand, London, WC2R 2LS' as the beneficiary. Please be assured that if the gift in your will is intended to specifically benefit students and teaching of Medicine or Dentistry, the university is obligated to honour your wishes.

What are the different types of Legacy gift?

Giving a share of your estate. This is known as a residuary legacy and it is stated as all or as a percentage of your remaining estate, once all fees, outstanding costs and other gifts have been taken care of. Even a small percentage of your estate can make a difference.

Making a gift of a fixed sum of money. This is called a pecuniary legacy. You can link your legacy to the Retail Price Index to ensure that the value of the gift you make today is worth the same in the future. This will prevent your gift from decreasing in value over time.

A gift in your will need not be in the form of money. A gift called a specific legacy enables you to leave specific assets such as property, stocks and shares or other valuables like jewellery or paintings if you so wish.

A postponed gift. Known as a reversionary legacy, this gift allows you to leave your estate, or part of it, on trust for the benefit of a particular person, such as a spouse, during their lifetime. They benefit from using the assets, or receiving the income from them, during their life. On their death, the assets pass to other chosen beneficiaries (called ‘reversionary beneficiaries’) such as King’s.

Note: Gifts of a significant proportion of an estate can be held in an endowment dedicated to the area of the greatest importance to you. This will ensure your funding continues in perpetuity. Please contact our Legacy Team if this is an option that you may consider.

Can you help me with suggested wording for my legacy?

Yes, to help you and your solicitor draft the wording for your legacy gift we have put together the below Will Wording Guides. There are two versions; one for leaving a gift to King’s College London and the other for leaving a gift to the School of Medicine or the Dental Institute.

You can download the appropriate guide by following one of the two below links:

 

If your soliitor needs more specific information please ask them to contact our Legacy Team.

 

Can I add a gift to King’s to an existing will?

Yes, if your will is already written and you want to alter it to make a gift to King’s, you can do so by adding a codicil. A codicil is an addition or supplement which is kept with, but not attached to, your will. This is a good way to add another gift or make minor changes to an existing will.

Please seek the advice of your solicitor before entering into a codicil, and ensure any will or codicil you enter into is properly executed.

 

What information do I need to give to my solicitor?

Most commonly we are asked by solicitors on the behalf of their clients for the university's full name and address, as well as King's College London's charity number.

King's full name and address: King's College London of Strand, London WC2R 

Charity number: Please inform your solicitor that King's College London has charitable status for all UK tax purposes and is an 'exempt' charity under Schedule 3 of the Charities Act 2011, consequently it does not have a Registered Charity Number.

To help make leaving a gift in your will to King’s as easy as possible we have created a Will Wording Guide that should contain all the information your solicitor should need.

There are two versions; one for leaving a gift to King’s College London and the other for leaving a gift to the School of Medicine or the Dental Institute. You can download the appropriate guide by following one of the two below links:

 

If your solicitor needs more specific information please ask them to contact our Legacy Team.

 

What are the Inheritance Tax benefits of leaving a bequest to Kings?

A gift in your will to any charity is not subject to Inheritance Tax (IHT). By remembering King’s in your will you may be able to reduce the taxable value of your assets and so lower the amount of inheritance tax due on your estate.

The current IHT threshold as of September 2015 is £325,000 for individuals or £650,000 for married couples (this is due to increase in 2017 see the HM Revenue Customs website for up to date information on IHT). If the total value of your estate is above the current threshold, it will be subject to IHT.

As King’s College London has charitable status, a gift in your will to King’s would be exempt from IHT. The gift will be deducted from your estate before IHT is calculated, and so reduce the amount of IHT payable.

There is now a further incentive when you leave 10 per cent or more of your net estate to charity. If you leave charitable gifts in your will that amount to 10 per cent or more of your chargeable net estate, the IHT rate on the whole of your estate will be reduced from 40 per cent to 36 per cent.

Please speak to your advisor or check the HM Revenue & Customs website for further information.

What impact could my legacy gift have on the university?

Charitable bequests left to King’s can have a transformational effect on our students, staff, research and the programmes that we offer. We have collated some of the most special legacy stories here for you to see.

If you would like to share your legacy story with us, and by doing so helping to inspire the next generation to support King’s in this way, please get in touch with our Legacy Team.

Do I need to let King’s know about my legacy intensions?

We understand that the decision to remember the university in your will is a personal one, and one that you may only wish to share with your nearest and dearest. However, letting King’s know your thoughts is invaluable because it allows our staff to clearly understand your wishes and ensure that they can be met. It also gives us the opportunity to recognise your decision and thank you in a way in which you are comfortable with.

If you prefer to remain anonymous, your wishes will always be respected. Any information you share with us regarding your will or intentions is strictly private and confidential. When the time is right for you, please download our Legacy Gift Form and return to our Legacy Team.

 

How do I let you know my intensions for my legacy?

You can let us know about your intensions in several ways. You can call, email or send a letter to our Legacy Team. Alternatively, for your convenience we have produced the below Legacy Gift Forms which set out all the information that is useful for us to know. You can complete the form online and email it back to us or you can print it and send back by post to the below address, whichever is most convenient for you.

For gifts to King’s College London please use:

King's College London Legacy Gift Form

For gifts to the Medical School or Dental Institute of Guy's, King's College or St Thomas' Hospitals, please use: 

GKT Legacy Gift Form

 

PLEASE NOTE:

i) Do not attempt to input informatiom into the gift form BEFORE downloading it, as your changes will not be saved. Please download the form to your computer first before entering your information.

ii) If you plan to leave a gift in your will to the School of Medical Education or the Dental Institute, for legal and tax purposes your legacy gift must be directed to 'King's College London of Strand, London, WC2R 2LS' as the beneficiary. Please be assured that if the gift in your will is intended to specifically benefit students or teaching of Medicine or Dentistry, or is intended for a specific use discussed with us to ensure its long-term feasibility, your wishes will of course be honoured.

Please return your forms to:

By email to: legacy-info@kcl.ac.uk

By post to: Legacy Team Fundraising & Supporter Development King's College London & King's Health Partners, Virginia Woolf Building, 22 Kingsway London, WC2B 6LE

Please be assured that returning your Legacy Gift Form does not put you under any obligation and you are free to change your mind at any time. Any information you give to us regarding your will or intentions will be treated as strictly private and confidential.

Facts for solicitors

Legacy contact details

“King's gave me the opportunity to begin a fulfilling career of a lifetime. My means are modest, but King’s has always been important to me and I would like to help in whatever way I can. There are thousands of us alumni, and our gifts add up. My bequest to my alma mater is the best way to give future generations of young people the same start in life that I had all these years ago.”
Sheila Doak, Botany and Zoology, 1947