Leaving a Legacy

Remembering Heriot’s in your will is one of the best ways to make a lasting impact on the school.

In creating a legacy to Heriot’s in your will, you will be joining the tradition of benefaction inspired by George Heriot in 1624, which resulted in our school being founded in 1628.

We are extremely grateful for every legacy gift we receive. Two of the most common ways to leave a legacy are to gift a share of your estate or a fixed sum of money in your will. If you are a UK taxpayer, a gift made to Heriot’s in your will is free of tax and could reduce the Inheritance Tax due on your estate. For example, if you leave 10% of your estate to charity the tax due on the remainder given to other beneficiaries reduces from 40% to 36%. For more information please visit the HMRC website.

If you would like your bequest to be directed in a particular way, the School would be delighted to discuss this with you. The more we know about your wishes, the better able we will be to honour your intentions in full when we receive your bequest.

1628 Society

All those who have pledged a legacy are invited to join the 1628 Society and will be invited to a special members-only event each year.

Choose the legacy that’s right for you

We are extremely grateful for every legacy gift we receive. Although there are many forms of legacy, the three most common are:

A share of your estate

Giving a percentage share of your estate once all other legacies and expenses have been settled. This is the most valuable type of gift as it retains its value over time. This is called a ‘residuary gift’.

A fixed sum of money

It can be any amount from a few pounds to thousands of pounds. This is called a ‘pecuniary gift’. This type of legacy could be affected by inflation leading the value being eroded over time. However, a pecuniary bequest can be linked to the Retail Price Index, to ensure that the gift reflects your original intention.

A specific legacy

You may prefer to specify an item – such as a property, a work of art or a share portfolio – that you would like to gift to Heriot’s.

There are a number of other types of legacies that you can give and your solicitor will be able to advise you of these in more detail.

If you would like to find out more about leaving a legacy to Heriot’s and to receive a Legacy Pack, please contact the Development Office