Leave a legacy
By remembering the Academy in your will, you will support the musicians of tomorrow, helping to shape the future of music in this country and around the world.
Your will is a very personal matter. If you are interested in leaving a legacy of any kind to the Academy, we invite you to discuss your plans with us in confidence, so that we can make sure that your wishes are understood and can be fulfilled.
If you have already remembered the Academy in your will, we would also love to hear from you and thank you for your special gift.
Please contact Bronwyn Mauchline, Leadership and Legacy Gifts Officer, on 020 7873 7428 or firstname.lastname@example.org if you have any questions about the process.
The Academy can accept legacies and bequests of any of the following types:
Residuary: a residuary legacy is the value remaining once all pecuniary legacies, debts, fees and other charges have been met. You can leave whole or part of the residue to the Academy. The value of a residuary legacy is not affected by inflation.
Pecuniary: this is a legacy of a specific sum of money. You may want to request that it be linked to inflation so that it retains its value over the years.
Specific: a legacy need not be a sum of money. Instead, you can leave assets such as property, stocks, shares, library collections, artefacts or other valuables. Please contact us to discuss your plans.
If leaving a gift for scholarships, you might also want to express the wish for the bequest to be endowed. In this case, the capital of the bequest would be invested by the Academy to produce an annual income, which would then fund an annual scholarship or scholarships for talented young students for years to come. We are still administering scholarships that were left in legacies dating back to the 1830s, so your support for scholarships would be part of a long and important tradition. Please contact us to discuss the specifics of named scholarships.
The Royal Academy of Music is a registered charity (no 310007), so any legacy you make is not subject to Inheritance Tax. This means a bequest to the Academy will be deducted from the value of the estate before any tax liability is calculated.
If you have already made a will, or have updated it recently, you can add a legacy or bequest to the Royal Academy of Music by drafting a codicil. We suggest the wording below for a will and codicil, but recommend that you consult a solicitor to ensure that the will or codicil is valid and your wishes will take effect.
Suggested wording for wills and codicils:
Residuary Legacy: 'I give (the residue) / (---% of the residue) of my estate absolutely to the Royal Academy of Music (registered charity number 310007) of Marylebone Road, London NW1 5HT, and I direct that the proceeds may be used for the general purposes of the Royal Academy of Music. I further direct that the receipt of the treasurer or other proper officer of the Royal Academy of Music for the time being shall be full and sufficient discharge for the said legacy.'
Pecuniary Legacy: 'I give to the Royal Academy of Music (registered charity number 310007) of Marylebone Road, London NW1 5HT, (the sum of £---)/(all my share and interest in--- absolutely) and I direct that such money may be used for general purposes. I further direct that the receipt of the treasurer or other proper officer of the Royal Academy of Music for the time being shall be full and sufficient discharge for the said legacy.'
Making plans for a legacy gift is an important decision and there are many factors to consider in the process. We always recommend that you take professional legal advice when drafting or updating your will.