Please consider making a legacy.
Leaving a legacy to the George the fifth steam locomotive trust
Nobody can stay forever to look after the locomotive they admire and love, so consider leaving a legacy to enable the Trust to do this for you. The money you leave will be reinvested in the locomotive, to ensure that what we have created in the last few years remains sustainable for the next generation. You will be remembered.
Leave it to Us
The Trust has been named as benefitting from a number of generous legacies. These legacies will contribute hugely to the completion and running of Prince George.
The trustees have oversight of the project so they are in a good position to respond speedily to financial needs and to monitor how the funding provided is spent.
The trustees and officials of the Trust are unpaid and meet their own expenses so administration costs are minimal. Over the last five years these administrative costs have averaged less than tone per cent of receipts. So, donors can rest assured that what they give will go to the loco, and not be eroded by expenses. Since the Trust is a registered charity, any amount you leave to it should under current tax rules, qualify for relief from Inheritance Tax, so that all your money will go to the railway.
Leaving a legacy to the GEORGE THE FIFTH STEAM LOCOMOTIVE TRUST——- If you are considering making a gift to the Trust in your will (a legacy) it is important that you get the advice of a solicitor. The law about wills and legacies – and related tax issues – can be complicated, and if you write your own will without legal advice there is a risk that your wishes may not be carried out in the way you intended.
When thinking about leaving a legacy you need to consider what kind of gift you wish to make, for example:
- You can leave the Trust a specific amount – a pecuniary legacy
- You can leave it the whole or a percentage of what remains of your estate after specific gifts have been made and expenses paid, this is known as a residuary legacy.
- Another option is to provide that a part or all of your estate should benefit a relative or relatives during their lifetime(s), but will pass to the Trust after their death(s).
Whatever you choose to do, it is important that you mention the full details of the Trust as follows:
The George the Fifth Steam Locomotive Trust
(England and Wales Registered charity number 1153991).
A legacy for a more specific purpose
You are welcome to leave a legacy to be used for a more specific purpose in connection with the locomotive. Please contact the Administrator, Derek Buckles to discuss your wishes. It may not always be practical to carry out a particular request, and this can give rise to difficulties if it is written in to your will. In any case the Trust’s needs will change over time, and it is very helpful if you can allow the trustees as much flexibility as possible to find alternative ways in which your gift may be used if necessary. A solicitor will be able to advise you on the appropriate wording to allow this.
If you would like more information or would like to discuss your wishes, please contact:
Derek Buckles at the above address or email: firstname.lastname@example.org