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The donations PGS receives through gifts in wills truly make a difference, for today, tomorrow and for the future.
From the date of its foundation in 1732, PGS has benefited enormously from generous gifts in wills.
In Dr William Smith’s final will, written just two days before his death in 1732, Dr Smith, Mayor of Portsmouth, and Physician to its Garrison, instructed that his gift of land be used to establish a grammar school in the city.
That one act of forward-thinking generosity transformed the opportunities available to children in the city that he loved and continues to be honoured at our Founder’s Day service in St Thomas’ Cathedral to this day.
The school has been extremely fortunate to benefit from numerous other legacies since, providing generous bursaries and creating many of the facilities familiar to us today.
For many people, leaving a gift in their will enables them to be more generous than is possible during their lifetime.
It can give you the security of knowing you will be able to provide for your own needs while also supporting the causes that you care about.
We strongly advise anyone making or updating a will to seek independent professional advice from a solicitor. If you are thinking of leaving a gift to the school, here is some sample wording that you might wish to take to any such meeting:
“I give to The Portsmouth Grammar School (registered charity number 1063732)
either x % of the residue of my estate
or the sum of £ …………
and would like my donation to be used by the school for its general charitable purposes.”
Any gift, small or large, will make a difference.
We appreciate that making a will is a sensitive and highly personal matter, but should you decide to leave a gift to the school, we would love to know so we can thank you properly during your lifetime.
Informing us of your plans will also give us the opportunity to fully understand your wishes and ensure we carry them out as advised. You can email us at development@pgs.org.uk
Supporting a charity through your will can help reduce the inheritance tax burden on your family or others named in your will. The current inheritance tax threshold is £325,000, with tax paid at 40% on the rest of your estate.
Any legacy gift to charity is free from inheritance tax, income tax and capital gains tax. In addition, if you leave at least 10% of your estate to charity, the inheritance tax due on the balance is reduced to 36%.
Above all, writing a will lets you decide what happens to your money, property, and possessions after your death. If you die without a will, the law determines who gets what. Dying without a will can also create problems for those left behind, at an already difficult time.
We understand that you will want to look after your loved ones first, but if you decide to leave a gift to The Portsmouth Grammar School in your will, we promise to use your gift wisely and effectively.
