Legacies and bequests

By naming The UK Friends of The University of Auckland as a beneficiary in your will, you can be sure that 100% of your funds will be used to support your specific programme or project with $0 directed to administrative overheads. The UK Friends of The University of Auckland is a registered charity that was established to receive and distribute gifts designated to all programmes and projects at The University of Auckland. The following are our suggestions for the wording of your will:

“I give and bequeath

[amount in words] pounds;

Or

(A specific percentage) of my estate;

Or

(The whole or a specific percentage) of the residue of my estate;

Or

(Describe precisely the item of property),

free from all duties and charges, as a contribution to The UK Friends of The University of Auckland, registered charity number 1090141, c/ Chapel & York Limited, 12 Ladycross Park, Hollow Lane, Lingfield, RH7 6PB, United Kingdom. to be applied for (stated purpose) at The University of Auckland for which the receipt of The UK Friends of The University of Auckland shall be sufficient discharge to my trustees.”

We of course recognise many of our bequestors would like to provide instruction for the application of their gift.

We would have pleasure in talking with you to ensure that your intentions are carried out.

By leaving a portion of your estate to the UK Friends in your will, your estate may avoid paying inheritance tax on that portion. The recipient organisation specified must be the UK Friends (as outlined above) – a designation naming “University of Auckland” or similar will not be eligible for tax advantages. If your estate is worth over £325,000 when you die Inheritance Tax may be due. Including a gift to a registered UK Charity in your will may reduce the applicable inheritance tax rate. We advise first talking to your personal advisor about the options best suited to your circumstances and the taxation implications specific to your estate.

An article explaining the main rules and upcoming changes appears on the HM Revenue and Customs website “Inheritance Tax: main residence nil-rate band and the existing nil-rate band”

https://www.gov.uk/government/publications/inheritance-tax-main-residence-nil-rate-band-and-the-existing-nil-rate-band/inheritance-tax-main-residence-nil-rate-band-and-the-existing-nil-rate-band

Most of our gifts from wills come from modest and caring New Zealanders who look after their family and friends appropriately before acknowledging their special appreciation for their University by including The University of Auckland in their wills.  A small percentage of what’s left after you’ve made your gifts to your loved ones can go a long way to enhancing New Zealand’s social, environmental and economic wellbeing. Through working with our philanthropic supporters over many years, we are proud to have played a leadership role in stimulating New Zealand’s artistic and cultural life, enhancing innovation and economic prosperity, contributing to improvements in the health and wellbeing of the population, and fostering the debate and independent thinking that characterise our nation.