SHERBORNE FOUNDATION
Legacies and the Bow Society Changing lives at Sherborne
Since the Bow Society was founded, legacies have helped change the lives of many boys at Sherborne. A legacy from OS, Charles Eglington (g, 1956), funded a 100% bursary for a boy to join the School every five years, former teacher, Donald Eperson, funded a 100% bursary whilst another, from former staff member, Peter Currie, enabled a life-changing trip for a boy. Other legacies have helped ensure that all boys are well taught in increasingly high quality facilities with more plentiful resources than we could otherwise provide. The Music School was partially funded by legacy gifts, significantly lifting the quality and reputation of music at Sherborne. As we move through our Strategic Plan, we have ambitious plans and targets, not least to fund a new Sports Centre that will do for Sport what the Music School has done for Music. Legacy gifts are one of the greatest ways an OS can support Sherborne as it enables the School to prosper into the future. We are enormously grateful to those who choose to make such a special commitment.
Dr Dominic Luckett Headmaster
C HAN G I N G LI V E S AT S HE R B ORN E
Why and How to Make a Will Making a Will is important as it lets you, rather than the law, decide who benefits from your money, property and possessions after your death. You can write your Will yourself, but you should get advice from a solicitor or other professional adviser if your Will isn’t straightforward. You need to get your Will formally witnessed and signed to make it legally valid. If you want to update your Will, you need to make an official alteration, called a ‘codicil’ or make a new Will. The Sherborne School Foundation has just produced its own ‘codicil’ if you wish to include a legacy in your Will to Sherborne. Why Leave a Legacy to Sherborne? A legacy is one of the simplest and most flexible ways of supporting Sherborne and may allow you to support the School in a way which you may not be able to during your lifetime. The tax benefits of a legacy gift to a registered charity such as The Sherborne School Foundation are considerable – all such bequests can be made free from Inheritance Tax and Capital Gains Tax, so you could reduce the total tax burden levied on the estate to your family. You can also become a member of The Bow Society, so long as you let us know of your intentions to remember Sherborne in your Will.
Four Ways to Leave a Legacy There are four main types of legacy which you can pledge to your charity or charities of choice – your solicitor can advise you which one is best for you. 1. A Pecuniary Legacy This is a specific amount of money declared in your Will. It can be linked if you wish to the Retail Prices Index so that it is protected from inflation. 2. A Specific Legacy You may wish to leave a specific item such as property, stocks and shares, or an item of jewellery. 3. A Residuary Legacy This is the ‘residue’ of your estate after all other bequests are made. 4. A Reversionary Legacy This gift has the advantage of providing for your family first and then benefiting the School. So when the original beneficiary dies, the gift in your Will reverts to Sherborne.
About the Bow Society
Our Roots The Bow Society was established in 1998 to recognise benefactors who choose to leave a gift in their Will to Sherborne School and to honour and thank them in their lifetime. It was named in memory of Charles and Louisa Bow, the Sherborne coal merchants who so generously chose to leave their home and land to Sherborne.
Their transformational gift was inspired by the great politeness they experienced over 50 years whilst delivering coal to School houses and appreciating that boys at Sherborne treat everyone with the same respect and courtesy.
Charles Bow delivering his coal by horse power
C HAN G I N G LI V E S AT S HE R B ORN E
Who Belongs? Old Shirburnians but also former parents, former staff and other friends of the School belong to the Bow Society. Each has pledged a gift in their Will to Sherborne. Society Life Members are invited to two Bow Society lunch meetings a year; generally a summer meeting in London and an autumn one in Sherborne. Good food, relaxed camaraderie, splendid venues in London and 1st XV rugby when at Sherborne is the order of the day. Two newsletters a year update members on School developments. New members receive a Bow Society lapel badge.
‘There is a special bond between those of us who have pledged a legacy. What binds us is that we all care strongly about Sherborne’s future and wish to support it as we can. We did not, all of us, enjoy every aspect of our school days but we do all believe in the ethos of the School and the importance of an excellent all-round boarding education for boys for the generations that follow in our footsteps.’ Bow Society Member
June, 1958, Chemistry How Do I Join?
What Can I Pledge?
What Can I Support?
Simply complete the Legacy Pledge Form, available with this brochure or online at www.sherborne.org or request one from the Foundation Office on 01935 810554. If you would like to discuss your wishes with us then we would be pleased to visit you in person on request. Naturally, providing for your loved ones and dependants is your first priority and you should always consult your solicitor before making or altering your Will.
Legacy gifts range from Charles and Louisa Bow’s whole estate to stocks and shares, valuables including artworks and cash gifts at various levels. You do not have to declare the type or value of your legacy pledge to join the Bow Society. Since the Bows’ extraordinarily generous founding bequest, members of the Bow Society have pledged between 1% and 5% of their estate to the School.
You can choose how your legacy is used to support boys at Sherborne by declaring this in your Will or you can direct your pledge to the Foundation’s general fund, allocated at the discretion of trustees according to the School’s greatest need at the time. Open gifts that can be used wherever the School needs it most are particularly useful to Sherborne, although gifts to any aspect of School life can be transformational.
C HAN G I N G LI V E S AT S HE R B ORN E
Follow in Our Footsteps
‘Local townspeople Charles and Louisa Bow paid great tribute to Sherborne when they left the School the proceeds of their lifetime’s hard work. Sherborne’s values and global regard which triggered their great generosity remain a priority today. Bow Society members, approaching 200 of us, have pledged our ‘gift of a lifetime’ for varying reasons but all with the aim of preserving and enhancing Sherborne for the future. £3.1m has been bequeathed since 1999, and has contributed to major projects, enhanced School life and supported the widening of access to Sherborne. I invite you, if you are considering a legacy pledge, to make it now. What better time could there be than now to walk in the footsteps of the Bows and others, whose generosity has helped make Sherborne all it is today.’ James May (h, 1967) Bow Society Chairman
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SHERBORNE FOUNDATION
Thank you
Abbey Road, Sherborne, Dorset DT9 3AP +44 (0)1935 810554 adrian.ballard@sherborne.org www.sherborne.org