Gifts in Wills

Leaving a gift in your will to Olympias Music Foundation

There are various times in your life when you might be thinking about writing a will: when buying your first house or business, when starting a family, perhaps prior to a long trip abroad or upon retirement. Making a will ensures that all your assets will be dealt with correctly and it reduces the burden on those you leave behind. Family and friends are of course the people at the front of your mind when it comes to writing a will, but you may also wish to consider a gift to a charity close to your heart, such as Olympias Music Foundation (Registered Charity no. 1194413).

How does your Gift in Will help music education for children and young people?

By leaving a gift in your will you can help give our talented young musicians the best possible chance to broaden their horizons and options for a successful future through music education.

Your gift could help to fund:

Free one to one lessons to children from low income families
Exams and books
Music therapy for those children that needs support following trauma
Participation and community work
Music and Mountains residency for talented young musicians that may not have traveled outside the city
Purchase of musical instruments

Leaving a gift in your will is a way of giving something without a cost to you during your lifetime, a way of leaving something that will be appreciated by future generations of students. Leaving a gift in your will to Olympias Music Foundation, to be used where it is needed most, provides us with the possibility and flexibility to respond to the most urgent needs of our children and young people. We welcome gifts in wills of all sizes and we would be delighted to hear from you to discuss support for the area that would mean most to you.

As a registered charity, Olympias Music Foundation pays no tax on gifts in wills. Any gift in will you leave to Olympias is exempt from inheritance tax and may reduce the inheritance tax payable on your estate.

How to leave a gift in your will

There are various ways to leave a gift in your will and it is advisable to discuss the options with a solicitor or financial advisor. A couple of options include:

Giving a proportion of your estate (residuary gift): all or part of what is left of your estate after all other gifts, debts and other charges have been met
Giving a specific sum of money (pecuniary gift)

Leaving a gift in your will is easy to do and using a solicitor or financial advisor when updating or making a new will reduces the risk of any future legal complications. In order to ensure your intentions are best honoured we would recommend you leave the wording as open as you feel able, such as the suggested wording below:

‘I give to Olympias Music Foundation (1194413), ("the Charity"), the sum of £___ /or ___% of my estate. I express the wish (but without imposing any legal obligation) that the money be used to ensure access to music education for a pupil who would otherwise not be able to attend lessons or to support the learning and participation work of Olympias. I declare that the receipt of the Finance Director or other appropriate officer for the time being of the Charity shall be a full and sufficient discharge to my Executors.’

There is no obligation to inform us of your intention however in light of future developments at Olympias it is helpful if we are aware of potential legacy gifts to support our young people and we’d be delighted to keep you informed of our work and plans for the future. All our legators are invited to an annual drinks reception, a festive opportunity for us to thank you personally and for you to hear our children and young people perform.

If you have written a will

If you have already written your will and want to add a gift to Olympias Music Foundation you do not need to re-write your will, you can simply complete a codicil to add a gift with the advice of a solicitor.