The importance of lifetime recognition
“I feel a great nostalgia for my time at Sherborne and this affection is one of the reasons why I decided to include Sherborne School Foundation in my Will. Despite the trials and tribulations of growing up, I made there some enduring friendships for which I’ll always be grateful. And then there are those ancient and mellow buildings, all set in the glorious Dorset countryside. Not a bad start in life!”
Peter Tilley, Bow Society Member (a, 1959 – 1964)
In many ways, the provision for Sherborne of a bequest in your Will is the greatest gift of all. It signifies the belief you have in all that Sherborne stands for, and it creates a living testimony to that affection beyond your death.
The Foundation believes that such a commitment to the future should not be recognised purely through acts of remembrance, and that those who have chosen to endow that future should be both honoured and thanked in their lifetime. It is for this reason that we have created the Bow Society, named in grateful memory of Charles Bow - the Sherborne coal merchant who gave in his Will the site which is now the campus of the International College, Sherborne School.
Membership of the Society is granted to all those who have signified their intention to make a bequest to the School. Recognising that such a decision is often private and personal, the list of members is not published, but an annual luncheon is held every year at which, in a quiet but meaningful way, the Foundation is able to offer the membership its thanks and keep them abreast of current development plans.
The Foundation also draws upon the experience and wisdom of Bow Society members to advise on its intentions for the future.
We very much hope that you will wish to become a member of this exclusive and very special donors’ society. Contact us by telephone or email us with your decision to make a bequest for the Sherborne School Foundation and you will be automatically enrolled in the Bow Society.
“Though only one of the school’s foot soldiers, I have an abiding memory and appreciation of my years at Sherborne. The bequest of a modest amount in my Will is a token of thanks for those years.
The bequest is also a small contribution towards enabling the School to continue to provide excellence in education for tomorrow’s successors to its original Foundationers”
Julian Oakley (c, 1944-1949)
Like many great institutions, Sherborne School owes much to its past benefactors. Those who have remembered the School in their Wills have bequeathed not only buildings, but also scholarships, academic posts and sporting traditions; all contributing to the continued growth and development of the School.
Selected benefactors from the School’s history
1550 - Refoundation of King’s School, Sherborne, under the auspices of King Edward VI
1851 - Lord Digby donated the Library and Chapel buildings to the School
1903 - The Art block and Geography rooms were given to Sherborne School by R E Carrington
1923 - A donation from A Devitt, led to the creation of Devitt Court including the Fives Courts and the Design and Technology buildings
1925 - G O’Hanlon donated Westcott House to Sherborne School
1929 - The Green boarding house was given to the School by Sir Edward Iliffe
1943 - Rev W J Bensley bequeathed three houses to the School including the Second Master’s house.
1967 - In his Will, Alexander Trelawny-Ross left not only Hyle House, but also playing fields to the south of the Chinese Pavilion.
1976 - Cutler’s was donated to the School by A B Gourlay
1987 - Max Westlake donated his house in King’s Road, Sherborne, to the School.
1988 - Charles Bow, Sherborne coal merchant, and his wife Louisa, bequeathed to the School land allowing expansion onto the site which is now the campus of the International College, Sherborne School
1998 - The Bow Society was founded to appropriately recognise the unique generosity of those who have remembered Sherborne School with a legacy gift
2002 - The generous bequest from Canon D B Eperson was devoted, in part, to the Eperson Mathematics prize
2002 - A legacy was left to Sherborne by Miss Alice Hey, supporting a number of School projects in her memory
Your gift for the future
“Sherborne was my alma mater, just as it was also for my uncle, brother and son; and I continue to hope that my two grandsons will be given access to the special, possibly unique qualities Sherborne affords. It is clear to me that, by leaving a legacy to Sherborne, I can, in a way that is really quite painless (it will be free from Inheritance Tax), help to ensure that the School continues to thrive and be there for the sons of future generations.”
Anthony Cassidy (b, 1952-1956)
After protecting the interests of family and friends, a number of Old Shirburnians, parents and friends of the School choose to remember Sherborne with a legacy, reflecting their support and affection and their wish for Sherborne School to flourish throughout coming years.
The future success of Sherborne School will undoubtedly depend upon its ability to maintain an excellent academic record along with first-rate music, art, drama, technology and sports facilities. A legacy can help to ensure that, for generations to come, Sherborne continues to compete with its peer institutions on all fronts and maintains its status as one of the leading schools in the country.
How to include Sherborne School Foundation in your Will
“A gift to Sherborne in your Will benefits the School and avoids Inheritance Tax; what further incentive does an Old Boy require!”
Graeme Gilchrist (a, 1948-1953)
A legacy or bequest to Sherborne School Foundation is free from Inheritance Tax by virtue of the fact that the Foundation is a registered charity. In practical terms, this means that any gift you make to the Foundation in your Will is deducted from the value of your estate before it is assessed for Inheritance Tax. Therefore, a gift to Sherborne School Foundation can help reduce your liability by bringing the value of your estate below the current allowable threshold.
It is strongly advised that professional legal advice be sought in deciding how best to arrange your affairs.
Different types of gift explained
There are five common forms of legacy. Click here to see the Correct form of wording for your Will
The Pecuniary Legacy
This involves the leaving of a specific amount of money. The disadvantage of this method is that inflation will erode its value over time and so can distort your original intention. In order to obviate this you could set aside a proportion of your Estate to your beneficiaries as follows:
The Residuary Legacy
The way to protect the real value of your gift is to make what is known as a Residuary Legacy - which may be a percentage or fraction of the residue of your Estate after any specific bequests have been made. We would ask you to consider bequeathing one or two percent of your Estate.
The Conditional Legacy
If you feel that you would quite like to leave all or part of your Estate to the Sherborne School Foundation, yet also feels that someone else has a stronger claim to the gift, then you can make a Conditional Legacy. This means that you leave your bequest to a particular person, but in the event that he or she should predecease you, then that bequest would go to the Foundation.
The Reversionary Legacy (A Life Interest)
The Sherborne School Foundation fully appreciates the concern all of us have for those we leave behind, and our wish to ensure that first and foremost proper provision is made for those close to us. In this case, what is known as a Reversionary Legacy can be used, whereby you leave money or your Estate (or a percentage thereof) to the Foundation after your death of your spouse or relative. This means that they enjoy your assets during their lifetime, but afterwards everything, or a designated portion, reverts to the Foundation.
Gifts in Kind
Your gift can take any form, and it is quite possible to leave gifts in the form of shares or items of property such as houses, pictures or other valuables. The Foundation could then sell the asset and utilise the proceeds as the Trustees see fit. This can be an attractive option where the asset has appreciated in value over the years and a high Capital Gains Tax liability exists.
Correct Form of Wording
The following are some sample wordings for making Pecuniary, Residuary, and Gift-in-Kind bequests, as well as an example of a Codicil which one adds to an existing Will. However, we would recommend, that in all cases you discuss your particular requirements first with your legal advisers in the light of your personal circumstances.
A Pecuniary Legacy
I give the following charitable legacy absolutely:
To Sherborne School Foundation (Charity No. 1073522) of Sherborne, Dorset, DT9 3AP, United Kingdom ("the Charity") the sum of £................... for the general purposes of the Charity and with the full power to expend capital as well as income for such purposes and I direct that a receipt of the Head of the Foundation or other authorised officer for the time being shall be a good and sufficient discharge to my Executors for the payment to the Charity.
A Residuary Legacy
I devise and bequeath (a percentage or share) of the residue of my estate absolutely to Sherborne School Foundation (Charity No. 1073522) of Sherborne, Dorset, DT9 3AP, United Kingdom, hereinafter called "the Charity", such sum to be applied for the general purposes of the Charity and with full power to expend capital as well as income for such purposes and I direct that a receipt of the Head of the Foundation or other authorised officer for the time being of the Charity shall be a good and sufficient discharge to my Executors for the payment to the Charity.
A Bequest in Kind
I make the following charitable gift absolutely:
To Sherborne School Foundation (Charity No. 1073522) of Sherborne, Dorset, DT9 3AP, United Kingdom, ("the Charity") (a clear description of the item(s) to be bequeathed).
With the full power to realise such assets and to apply the proceeds to the general purposes of the Charity, and I direct that a receipt of the Head of the Foundation or other authorised officer for the time being of the Charity shall be a good and sufficient discharge to my Executors for the payment to the Charity.
A Codicil adding a Bequest to an existing Will
I ... (your name) ... of ... (your address) ... declare this to be the first (... or second etc. ...) Codicil to my Will dated and made the ... (date) ... of ... (month and year).
In addition to the legacies given by my said Will I give the following further charitable legacy absolutely:
To Sherborne School Foundation (Charity No. 1073522) of Sherborne, Dorset, DT9 3AP, United Kingdom, ("the Charity") the sum of £ ............................ for the general purposes of the Charity and with the full power to realise such assets and to apply the proceeds to the general purposes of the Charity, and I direct that a receipt of the Head of the Foundation or other authorised officer for the time being of the Charity shall be a good and sufficient discharge to my Executors for the payment to the Charity.
In all other respects I confirm my said Will.
(A Codicil needs to be separately signed, dated and witnessed by two independent witnesses as for a Will in its own right.)
The Old Shirburnian Society
The OS Charitable Trust has for many years provided bursaries towards Sherborne School fees, tenable by the sons of Old Shirburnians. Much of the capital that provides these bursaries has been provided through generous bequests from Old Shirburnians and so, if you would like to support this most worthwhile object, the following clause is suggested:
A Bequest to the Old Shirburnian Charitable Trust
I give free of all tax or duty:
To the Old Shirburnian Charitable Trust, 1975 (Charity No. 271592) the sum of £........................
( ................................................................ pounds) and I DECLARE that a receipt of the Treasurer or other proper officer of the said charitable body for such gift shall be a sufficient discharge to my Trustees who shall not be bound to see the application thereof.