Making a Gift in your Will
A Gift for Future Generations:
Remembering BlackFriars in your Will
The Importance of Gifts in Wills
The ability of people to give to good causes during their lifetime is usually limited by their day-to-day financial needs, and those of their dependants. But often people can give more support through their Will.
The money that people leave to the friars through legacies is a very important means of support for us. They typically make up one fifth of our parent charity’s annual income. Many of our most urgent needs over the years have been resolved through generous bequests. In particular, they have helped with projects to maintain and renew our buildings, which typically account for a quarter of our annual expenditure.
Legacies can be a way for the donor to make a positive and lasting impact on the friars’ mission. They can on occasion also serve to memorialise the donor, for example by establishing a scholarship or teaching post in their name, or remembering them on a plaque when they have paid for a significant piece of building work.
Could you remember Blackfriars in your Will?
When providing for the needs of family and friends in your Will, do please also consider making a bequest to Blackfriars.
You may wish to support:
- Blackfriars Hall, our presence within Oxford University.
- The Priory, the community of Dominican Friars
- Blackfriars Studium, in which we prepare friars and others for ministry
Legacies make a huge difference. Making a gift through your Will enables us to advance our mission, and larger legacies can help us to make big steps forward that otherwise might take years to accomplish.
The Friars remember all their benefactors every day in their prayers.
Telling us your intentions
As we plan for the future, it would help if you let us know if you intend to leave something to the Dominican Friars in your Will.
- You can email us via our Development Office and we will record your intention on our records. (This is entirely optional and furthermore creates no obligation on your part to make a bequest.)
If you have not yet included the Dominicans in your Will, we offer below some practical details about doing so.
Practical Details about Making a Will
Tax benefits of giving to charity
Giving to a charity through your Will allows you to reduce the burden of inheritance tax on your next of kin. Inheritance tax is currently (2016) payable on estates valued at £325,000 or over, with tax set at 40% on the amount over this threshold; however, if you donate 10% or more of your net estate to charity, the rate of inheritance tax is reduced to 36% on non-exempt gifts. You should always seek the advice of your solicitors when drafting a clause designed to benefit from this reduction in the rate of tax.
Who to talk to about making your Will
Making a Will is easy. All you have to do is consider how you wish to divide up your property, and make sure these wishes are clearly communicated. You can also use your Will to give clear instructions about your funeral.
It is advisable to find a solicitor to help you to draft it. The same is true if you have made your Will already, but want to revise it because your circumstances have changed. Blackfriars is also now able to offer access to a Free Will-Writing Service.
The Dominican Friars can also provide information to your solicitors should they need it – you can contact Richard at our central offices on 01865 610208 (email email@example.com), and we will be pleased to assist you.
Supporting specific Things
If you would like your Will to benefit a specific aspect of Blackfriars, please be sure to state this in your Will. You may find it helpful to talk to the Prior, the Regent or the Development Office for guidance on the particular things that could be supported by a legacy.
Ways to give through your Will
In making a bequest, you have a choice of three ways to give:
- A percentage of your estate – this means a portion or the whole of what is left once debts and funeral expenses have been paid, and other bequests made.
- A fixed amount – a specific sum of money
- Property or goods – a building you own, or other things such as stocks and shares, or pieces of jewellery.
In drawing up your Will, your solicitor will need to be given the exact details for each of these three ways.
Charity Details to Include in Your Will
If you wish to leave something to Blackfriars, please note these details to include in your Will.
Blackfriars is part of the following charity:
The English Province of the Order of Preachers
Charity registration numbers:
231192 (England and Wales);
Blackfriars, St Giles, OXFORD OX1 3LY.