Historically, legacies have played a vitally important role in helping the Society to advance the cause of science and meet the needs of the scientific community. The names of past Fellows such as Copley, Baker and Davy are remembered in the many premier medals, lectures and fellowships which have originated from such gifts.
No matter the size, each gift is deeply appreciated and makes a valuable contribution to enhancing the capacity of the Society, as an independent academy, to maintain its essential work in the future.
Suggested wording
We recommend that you draft your Will in consultation with a qualified solicitor. The following wording is only a guide. Because the Royal Society is a registered charity, bequests – be they residuary, pecuniary or specific – will not be subject to inheritance tax in the UK.
For Pecuniary or Specific Legacies
I GIVE a pecuniary / specific legacy free of all tax of £X to THE ROYAL SOCIETY OF LONDON FOR IMPROVING NATURAL KNOWLEDGE of 6 Carlton House Terrace London SW1Y 5AG (Registered Charity Number 207043) and I express the wish but without imposing any binding trust or obligation that this legacy be used in / applied towards…
For Residuary Legacies
I GIVE the whole (or a X% share) of my Residuary Estate to THE ROYAL SOCIETY OF LONDON FOR IMPROVING NATURAL KNOWLEDGE of 6 Carlton House Terrace London SW1Y 5AG (Registered Charity Number 207043) absolutely and I express the wish but without imposing any binding trust or obligation that this be used in / applied towards…
Reversionary legacies should be drafted in consultation with a solicitor.
Types of legacies
When considering a legacy gift in the UK, there are four main types of bequest, some of which may be more appropriate to your financial or personal circumstances.
Residuary: This is a gift of the whole or a percentage of the estate following the distribution of specific gifts and payment of any debts and expenses.
Pecuniary: This is a financial gift of money or shares.
Specific: This is a gift of an item, such as a portrait or historical document. When considering specific bequest, it is advisable to speak to the Society to make sure that the Society will be a suitable home for the object.
Reversionary: This is a gift of an asset, such as a house or fund that can be enjoyed by a chosen beneficiary during his or her lifetime before reverting to the Society.