How to leave a Gift in your Will:
Drawing up a Will is a straightforward process and can be done with advice from your solicitor. You can leave the EES a share of your estate, a sum of money or even a specific item, and the value of this gift will be deducted by the Inland Revenue from the value of your Estate before any inheritance tax is calculated.
You do not have to rewrite an existing Will if you would like to add a gift to the Society. This can be done by adding a supplement known as a codicil to your existing Will and acts as an addition or amendment to this document. For further information or if you wish to change your Will substantially, please contact your solicitor.
Defining how a gift is used
You can say in your Will that you would like to leave it up to the Society how to use your legacy. These valuable unrestricted gifts allow us to put the money where it is most needed at that time, and can be covered by the term 'general purposes' in the statements below. Alternatively, you can target your gift towards an area of the Society which is of particular interest to you.
Giving a portion of your estate
Once you have ensured that your family and friends will receive the percentage of your estate that you want them to, you may wish to leave the remainder to the Society. This is know as a residuary gift and leaves the Society the remainder of your estate after other legacies and charges have been met.
Suggested wording for a residuary gift:
“I give ____% of my residuary estate to the Egypt Exploration Society of 3 Doughty Mews, London WC1N 2PG for its general purposes and that the receipt of the Treasurer shall be a good and sufficient discharge to my Executors.”
Leaving a sum of money
A monetary or pecuniary gift leaves the Society a specified sum of money. Furthermore this money can be ‘index-linked’ so that its value is not eroded by inflation. For further details on 'index-linked' gifts, contact your solicitor.
Suggested wording for a pecuniary gift:
“I bequeath free of all taxes to The Egypt Exploration Society of 3 Doughty Mews, London WC1N 2PG for its general purposes the sum of £____, the receipt of the Treasurer for the time being of the said Society to be a good and sufficient discharge to my Executors for the said sum.”
Giving a specific gift
Occasionally people wish to leave us a specific asset from their estate. This specific or non-monetary bequest might be shares, the proceeds from the sale of a property, or a collection of books or pictures, left on the terms that they be retained or that they may be sold when advantageous to provide funds for the Society. If you are thinking of leaving us a specific bequest please contact us so that we can discuss what you have in mind.
Suggested wording for a specific bequest:
“I give _____ to The Egypt Exploration Society of 3 Doughty Mews, London WC1N 2PG and declare that the receipt of the Treasurer for the time being of the said Society to be a good and sufficient discharge to my Executors.”