How to leave a legacy

How to leave a legacy and help transform Durham Cathedral

What is a legacy?

A legacy is a gift in your Will.

How do I draw up a legacy?

Please seek the advice of an independent solicitor when drawing up your Will. They can help you reduce your potential tax liability and ensure your wishes are carried out exactly as you would want them.

The Law Society’s Wills and Inheritance Quality Scheme (WIQS) provides a best practice quality mark for wills and estate administration advice.

Can I select a specific purpose for my legacy?

Yes. We have specific funds to which individuals can leave their bequests. For example Foundation 2020 is building an endowment fund for the repair and maintenance of our historic buildings. Or we can allocate legacies to where the need is greatest at that time.

Types of legacies

There are a number of different types of gift to consider:

Pecuniary legacy

This is a gift of a specified sum of money. To preserve the value from inflation, we recommend that you ask your solicitor about tying the gift to the Retail Price Index.

Specific bequest

The gift of an asset such as property, shares, etc. Such an asset can be left to Durham Cathedral for subsequent sale or investment.

Residuary gift

The residue of your estate is everything that remains after all the other gifts have been distributed and debts paid. You could leave all or a percentage of the residue to Durham Cathedral.

Conditional legacy

A gift which only takes effect when a certain condition is met. For example, you may allocate a share of your estate to a friend or relative, but direct that Durham Cathedral receives that share if he or she dies before you do.

Make a Will Month

Make a Will Month aims to make the process of making your first Will, or up-dating your current Will, accessible, easy and stress-free.

Every October we are delighted to partner with some of Durham City’s most well-known solicitors for Make A Will month. In exchange for a donation in support of Durham Cathedral, they kindly agree to waive their usual fee for the preparation of a standard single or joint Will.

Who can take up this offer?

This special promotion is open to everyone, whether you’re buying a house, getting married, starting a new family or simply want to get organised.

How much is it?

The suggested voluntary donation is £80 for a single Will or £130 for a joint Will. All the money goes directly towards Durham Cathedral.

More information

For more information about legacies, including suggested wording, please contact the Development Team, email development@durhamcathedral.co.uk, call 0191 374 4055 or write to:

Development

The Cathedral Office

The College

Durham DH1 3EH

With thanks to Gedye and Sons (Solicitors) Limited for its assistance in collating this information.

On taking up the Make A Will Month offer

“My partner and I were married last year. We wanted the reassurance that should one of us pass away our loved ones will be cared for and no disputes would arise between relatives. It is also important to ensure our funeral wishes are known.

The idea of Make a Will month appealed as after having shopped around for quotes it was surprising that many solicitors fees differed. I also preferred the idea that my money would go to supporting the Cathedral.

The Cathedral is an amazing building both culturally and historically. By using Make a Will Month I am not only benefiting myself but helping to preserve this treasured place for generations to come.”