1554 Circle
For most people, a legacy is the greatest gift that they can make – it is a gift of a lifetime and something we are honoured to receive.
This year we are pleased to launch the 1554 Circle to thank those who have made provision to leave a legacy to Queen Mary’s Grammar School.
The Circle will meet annually at a special event to hear from the Headmaster about the School’s progress. It also allows us to thank you for your generosity during your lifetime.
It is fitting that the School acknowledges and honours, privately or publicly, donours who, by way of a bequest, have planned to invest in the future of Queen Mary’s Grammar School.
If you decide to leave a legacy to Queen Mary’s in your Will, or have already done so, and would like to join the Circle please click the button below. The information will be treated in the strictest confidence and does not involve you in any legally binding obligations. It is simply a statement of your present intentions.
If you have any questions regarding joining the Circle please contact Judy McCoy at School on 01922 720696 or alumni@qmgs.walsall.sch.uk
Some of your questions may be answered in the FAQ section below.
FAQs
Who should write my Will?
Whether you are writing a Will for the first time or updating your existing Will, we recommend that you seek legal advice. Using a professional solicitor will make sure that everything is actioned in accordance with the law, and will ensure that your Will is valid.
What are the different types of legacy gifts?
There are several different types of gifts you can leave in your Will. We would advise you to explore all options with your solicitor. The two types we most regularly receive are:
Residuary gift - a gift of a percentage of a person's estate. Gifts of this type are the most beneficial as they retain their value over time.
Pecuniary gift - a cash gift of a specified amount. It is recommended for pecuniary gifts to be index-linked so that their value doesn't depreciate over time.
Is leaving a legacy gift tax efficient?
Remembering Queen Mary’s Grammar School in your Will is a tax-efficient way of supporting us. Your estate may be subject to inheritance tax and it may be advantageous to distribute your estate so that your family and friends are left gifts below the tax threshold and therefore not subject to inheritance tax. Under current law, if your estate is worth more than £325,000, your beneficiaries will have to pay 40% of the part that is over the threshold to HMRC.
We also recommend that you speak to your solicitor about inheritance tax. If you'd like to find out more, you can view the Government website: https://www.gov.uk/inheritance-tax
Can I add Queen Mary’s Grammar School to my existing Will?
Yes. You can do this by adding a codicil to your existing Will. A codicil can be used in the case of minor changes; it is a supplement to your existing Will. It is essential that you speak to your solicitor about introducing a codicil to your Will.
Do you have any recommended wording for including a gift in my Will?
We always recommend that you speak to your solicitor about the most appropriate wording for your own Will.
Your solicitor may use this sample wording as a guideline: ‘I give Queen Mary’s Grammar School <xx% of my estate> or <specific amount> to be applied to <Greatest Need/chosen area>. The receipt of the Director of Finance or other duly authorised officer of the School shall be a good and sufficient discharge to my executors.’
Should you wish to direct your gift then it is recommended that you speak to us as we want to ensure that we are able to fulfil your wishes.
Is the School a registered charity?
We are an exempt charity so do not have a charity number. It should be stated that Queen Mary’s Grammar School is an ‘exempt’ charity as part of the Mercian Trust.
Can I direct a gift to a particular area of Queen Mary’s Grammar School?
Yes, you can stipulate, but general gifts are useful because there may be a particular area of need. Should you wish to direct your gift then it is recommended that you speak to us as we want to ensure that we can fulfil your wishes.