Legacies are vitally important to Corpus’s existence and progress. Every legacy, large or small, will be used to continue our tradition of excellence in teaching and research and support the generations of students yet to come here.
The making of a Will is an extremely personal matter and the College makes no assumption that those who choose to leave a gift in this way will necessarily choose to inform the College of their intention during their lifetime. However, Corpus is particularly grateful when alumni and friends choose to inform the College of their plans. This gives the College an idea of the legacies it can expect in the future. It also gives the College the opportunity to recognise legacy donors in their lifetime by offering membership of the 1352 Foundation Society.
If you are considering naming Corpus in your Will or would like to receive further information please contact the Lucy Sparke in the Development & Communications Office on email@example.com or (01223) 339731.
Corpus Christi College Cambridge is a charity (registered charity number 1137453) and as such, legacy gifts to Corpus should have tax benefits for your estate by reducing the amount liable to Inheritance Tax. Additionally, in cases where 10% or more of the deceased’s net estate is left to charity, the rate of inheritance tax payable is reduced from 40% to 36%.
Deed of Variation
If you are a beneficiary under a Will, you can also save on inheritance tax by transferring all or part of your inheritance to the College using a deed of variation. This can be an effective way to support Corpus during your lifetime.
Pension funds & life insurance policies
Corpus can also be nominated as a whole or joint beneficiary of a pension fund or life insurance policy. Naming the College as the beneficiary of a policy could allow you to make a larger and earlier gift than might otherwise be possible. You need only pay an annual premium rather than having to donate the entire value of the gift.
The preferred wording is:
“I GIVE to the Master, Fellows and Scholars of the College of Corpus Christi and the Blessed Virgin Mary in the University of Cambridge (“the College”), registered charity number 1137453, [the residue/% of the residue of my estate] or [the sum of £] (“the fund”) to be held by the College for its general purposes. The receipt of the Bursar or Master for the time being of the College shall be a good discharge to my Trustees for the fund.”
If you are updating your Will and would like to add a codicil, you may wish to use our codicil form which can be downloaded here.
Whilst we particularly welcome legacies that can be used for general purposes we are also very happy to accept gifts for a particular use. If you would like to specify what your legacy is used for, it is always extremely helpful for us to discuss this with you to ensure that your wishes can be met. If you would like to talk to us about how you would like your legacy gift to be spent, please do get in touch.
1352 Foundation Society
Corpus Christi College was founded and endowed in 1352 by members of the Guilds of Corpus Christi and the Blessed Virgin Mary and given its charter to further education, religion, learning and research.
The 1352 Foundation Society was created in order to recognise the generosity and commitment of those who have pledged legacies to the College. Membership of this Society acknowledges those who have informed us of their intention to leave the College a gift in their Will. Through the 1352 Foundation Society, we recognise legacy gifts within the lifetime of the donors so that they can enjoy a relationship with the College and its current members.
Each year the Society hosts a Members’ Day, which includes lunch, as well as an exhibition, a tour or a lecture. We want Members to feel involved in the life of the College and welcome them and their guests. Each member receives a certificate of membership in acknowledgement of their commitment to the College and we publish a list of members with our annual donor list, although any member can retain anonymity if they wish.
Please consult your solicitor for advice when making or amending your Will.