Your Legacy - Harrow's Future

YOUR LEGACY HARROW’S FUTURE

A SCHOOL BUILT ON BEQUESTS AND PHILANTHROPY

1572

1916

1851

This bequest allows for the foundation of four entrance scholarships. The School was also able to purchase a number of properties on the High Street, including Moretons and, ultimately, to build the Dining Hall in the 1970s

John Lyon endows the foundation of Harrow School through a reversionary legacy in his Will which comes into effect after the death of his wife in 1608

Dr Charles Vaughan improves ‘Ducker’

The School Bathing Place, popularly known as ‘Ducker’ is improved with a gift from Head Master Dr Charles Vaughan

1901

Edward Ernest Bowen bequeaths The Grove

Former House Master leaves The Grove and other property to the School, one of the most valuable bequests in Harrow’s history

Augustus Shepard Churchill (The Grove 18603) bequeaths his large estate

1935

Gregory Apcar (The Grove 18693) bequeaths a very large endowment, described by Harrow’s Governors as ‘an endowment which has never been equalled in the School’s history’

This legacy enabled the completion and decoration of the Speech Room, the War Memorial Building and the purchase of premises on the High Street

1936

Herbert Leaf bequeaths the sum of £10,000

This allowed for the building of new form rooms, two squash rackets courts and the improvement of ‘Ducker’

2000

Mary Cotton, sister of an Old Harrovian, leaves a substantial legacy for bursaries

2006

Derek Kelsey (Small Houses 19213) leaves a substantial bequest to Harrow requesting that it be used to assist sons of Harrovian families, after his own family had run into financial difficulties during his time at Harrow.

2010

John Watts’ (Small Houses 19301) estate provides for a bursaries to support boys from Old Harrovians families in need of financial assistance

After the death of his wife, John’s entire estate was left to Harrow to be used to provide a bursary in memory of his mother

2012

Alan Mackenzie-Wallis (Rendalls 19282) leaves his entire estate to Harrow, followed by his sister Mary Cotton who leaves a substantial residue of her estate to the School to support bursary awards

2015

Andree Pickard leaves a substantial legacy to the School after watching the 2010 television documentary Too Poor for Posh School

The legacy required that funds should be used for scholarships and bursaries for gifted individuals from less-advantaged backgrounds in memory of her late nephew, Osbert (Rendalls 19853), who died whilst still a boy at the School

2018

David Anson (The Park 19423) leaves a generous bequest towards bursaries ‘for the education of future generations of young boys who show ability’

BEQUESTS HAVE BEEN ENORMOUSLY IMPORTANT TO HARROW SINCE ITS EARLIEST YEARS We owe our very foundation to the bequest of John Lyon, whose original endowment and reversionary legacy paved the way for a tradition of philanthropy and giving back that has shaped the School that exists today.

As we celebrate 450 years of heritage and tradition at Harrow and look to the decades and centuries ahead, leaving a gift in your Will is your opportunity to make a lasting contribution to the School for generations to come.

Queen Elizabeth I grants Royal Charter to John Lyon in 1572; stained glass window in the Alex Fitch Room

I have chosen to leave a legacy to Harrow because I want to help boys, whose families might otherwise find the fees beyond them, to have the opportunity to receive the first-class education that Harrow gave me.’

Prof David London (Newlands 19462)

LEAVE A GIFT IN YOUR WILL AND HELP SAFEGUARD HARROW’S FUTURE Your support g

provides life-changing support to talented boys in need of financial assistance

g

enables the creation of state-of-the-art facilities and funding of capital projects

g

helps establish a permanent endowment for future generations of Harrovians

g

helps preserve the School’s key buildings and heritage

Did you know? g

Harrow has never benefitted from a lavish endowment and instead relies on the continuing generosity of Old Harrovians, parents, staff and friends of the School

g

Income from School fees cover operating costs only and, in any year, voluntary donations fund a significant proportion of every improvement project undertaken, as well as our annual bursary awards

g

As a charity recognised by HMRC, all legacies at the current time to the School are free from Capital Gains Tax and Inheritance Tax. By choosing to make a gift in this way you may reduce the total tax liability of your estate to your family

g

If your estate is worth over £325,000 and, if you leave a minimum of 10% of your estate to charity, the tax due may be paid at a reduced rated of 36% instead of 40% on the balance of your estate

LEAVING A GIFT TO HARROW If you are considering leaving a gift in your Will to Harrow School we would be pleased to talk to you about your wishes and intentions.

We strongly recommend that anyone wishing to support the School through a legacy should seek qualified legal advice to ensure that your interests are protected and your wishes properly recorded.

Types of Legacy Read our Types of legacy information leaflet enclosed for further information.

Pledge Form If you decide to leave a legacy to Harrow, we would be grateful if you could notify us by completing the pledge form enclosed. By notifying us we are able to plan how your gift can be honoured, if you so wish.

Codicil Form If you have already made your Will but now wish to include Harrow in your inheritance planning, you are welcome to use the sample codicil form enclosed.

Recognition of Benefactors

THE FORTY YEARS ON SOCIETY If you have informed us of your intention to remember Harrow in your Will, you will be invited to join the Forty Years On Society. Members of the Society are invited to special donor events. In addition, your family are invited to a memorial tree planting ceremony and your name is recorded in the Harrow Tree Book.

Even though I left Harrow in the 1990s, I have decided to include a large bequest to the School in my Will. The plain fact is that Harrow did wonders for me and I would like to give something back.’

TYPES OF LEGACY There are different types of legacy, and it is useful to understand some of the most common, which include: The Pecuniary legacy This allows you to give a specific sum of money to Harrow. As the value of a specific sum would decrease over time owing to inflation, it is possible to index-link this so that it maintains its current-day value.

The Reversionary legacy This is a method of providing for your family first and then benefitting Harrow. It involves leaving your assets to trustees so that the beneficiaries can enjoy the income during their lifetime, with the whole or a portion reverting to Harrow on their deaths.

The Residuary legacy This involves leaving all or part of the net residue of your estate to Harrow, after all pecuniary legacies, debts, fees and other liabilities have been met. This gift has more flexibility than a pecuniary gift in that you do not have to quantify the sum or take into account inflation when you draw up your Will.

The Conditional legacy This provides for the eventuality that if none of your named dependants survive you, your estate will be left to other named beneficiaries and charities including Harrow.

The specific or non-money legacy You can leave a specific personal possession to a charity such as Harrow. Examples include property, jewellery, antiques, works of art, stocks and shares. If you do, these possessions will be excluded from the valuation of your estate and will not be liable for Inheritance Tax.

Where Lyon dreamed And saw in dream His race of sons to follow’

Fairies, Harrow Song Book, E E Bowen J Farmer 1875

Harrow Development Trust 5A High Street, Harrow on the Hill, Middlesex HA1 3HP +44 (0)20 8872 8500 hdt@harrowschool.org.uk harrowschool.org.uk/supportharrow Harrow Development Trust is a registered charity number 296097