LEGACIES AND BEQUESTS

Special gifts from one generation to another

By remembering the chaplaincy in your will, you will help Fisher House to continue serving the Catholic academic community in Cambridge for generations to come.

 

Fisher House has benefited from a number of generous legacies in the past, one of which financed the building of Fisher House in the 1970s. Legacies, of whatever value, are always greatly appreciated. The names of all benefactors are recorded and recalled at an annual Mass.

 

Your specific wishes should be discussed with the Chaplain. If you decide to leave a legacy for the Chaplaincy, please let us know.

Wording

Your solicitor will advise on the most appropriate wording in your particular case. We advise the following:

I bequeath to the Cambridge University Catholic Association CIO (Registered Charity Number 1184835) …% of the residue of my estate, or the sum of £…, or a specific item absolutely for the sole benefit of the Cambridge University Catholic Chaplaincy at Fisher House, Guildhall Street, Cambridge, Cambridgeshire, CB2 3NH, and I declare that the receipt of the Treasurer or other proper officer of the Association for the time being, shall be sufficient discharge to my Executors.

Types of legacy

 

There are different kinds of gift you can leave in your will. The most common are:

  • Residuary bequest (a proportion): a gift of the remainder (or a percentage of the remainder) of the estate after all other bequests have been made, family and friends remembered, and debts cleared.

  • Pecuniary bequest (a set sum): a gift of a fixed sum of money in your will. It should be noted that the value of a pecuniary legacy will decrease over time because of inflation.

  • Specific bequest (an item): a particular named item left as a gift in your will, such as property or a piece of jewellery.

Fisher House is very happy to receive any of the above kinds of bequests.

Inheritance tax

Bequests to charities are free from Inheritance Tax and, in the case of stocks and shares, Capital Gains Tax.

 

To benefit from this concession, it is essential that bequests are made to the Cambridge University Catholic Association CIO, which is a registered charity (number 1184835), and the trustee and manager of CUCA. The sole purpose of CUCA, of which all past and present Catholic members of the University are members, is to provide for the needs of the chaplaincy, and to maintain the Chapel, library and all the buildings comprising Fisher House. All monies received from bequests, unless otherwise indicated, will be invested for these purposes only and cannot be used otherwise.

Frequently asked questions

Can I give to Fisher House rather than CUCA CIO?

If you were to do so, your bequest would be subject to inheritance tax, because CUCA CIO has charitable status, and Fisher House does not. By making a gift to CUCA CIO, you are giving to the charity which provides for all the needs of the Chaplaincy. The only reason for CUCA’s existence is to maintain the Chaplaincy.

Will my legacy be marked in any way?

The names of all deceased benefactors will be recorded in perpetuity and recalled at an annual Mass. Any specific wishes may be discussed with the Chaplain.

Can I choose what my legacy is spent on?

While we would prefer legacies to be given without condition, to be used as needed, we are also happy to accept gifts for particular purposes. Please discuss your wishes with the Chaplain.

Can I leave my house to CUCA CIO?

Yes, you can! Please be assured that CUCA CIO would take advice and make the best possible use of your home.

Will inheritance tax have to be paid?

No. As long as you stipulate that your legacy is for CUCA CIO, Registered Charity Number 1184835, it will be free of inheritance tax.