Shropshire Music Trust, Registered Charity No. 515026, was set up in 1984. For over thirty years the Charity has sought to enrich our lives by the presentationof public concerts, recitals, lectures, master classes and outreach in the county of Shropshire. The trustees are proud of the varied programmes put on to a high professional standard in past years, thanks to the expertise of Kate Hogwood, our Artistic Director. These activities attract support from many people, enhanced by the Friends of Shropshire Music, who provide invaluable help in the staging of concerts, by our growing Patrons Scheme and, finally, by you our audiences.
However together with other partnerships we depend on grants for financial support and the austerity measures for years now will remain a fact of life particularly in the arts - you may have heard recently of the Shropshire Council arts cuts.
If music has been important in your life, please think of helping to keep it alive for those who follow you.
This text explains how the gift of a legacy: an endpwment or a bequest - could help us continue our endeavour in future years with particular emphasis on giving young people the experience of listening to live performances by dedicated professional musicians.
Your help in this endeavour would be greatly appreciated – We do need and value your support.
SHROPSHIRE MUSIC TRUST WOULD
LIKE TO THANK:
Richard & Patricia Burbidge
David & Tricia Harris
Brian & Barbara Payling
Stephen & Elizabeth Caney Harvey & Blanche James
Martin & Margaret Thorpe Kate Franklin
Andrew & Jenny Petch
Dr Ken & Mrs Lyn Addison
Dr & Mrs Michael Arthur
Andrew & Annie Bannerman
Jane & Chas Bebbington
Gail Richards & Dic Bickerton
Linda & William Edmondson
Mrs Christine Green
Lady Hamilton of Dalzell
Robert & Linda Jeffrey
Michael & Marilyn Jordan
Sir David & Lady Lees
Terry & Nicola Lipscombe
Martin & Margaret Locke
Roger Lovegrove OBE
Brian & Elspeth Pearson
Mr & Mrs A. Richardson
Alyson & Bob Saunders
Dr Alan Shrank
Sally G. Stote
Brigadier Nigel Sturt
Geoff & Lorna Taylor
The Revd Preb Mark Thomas
Roger & Jan Thornhill
Martin & Janet Thouless
Dr Louise Warburton
Drs David & Margaret Williams
Dr Ronald & Mrs Sue Wilson
Celia & Iain Wright
PATRONS Autumn 2015
Remembering the Trust in your Will is one of the most meaningful ways to help secure its long-term future.
A bequest (often called a legacy) is a gift which you specify in your Will. It can be a cash sum, a specific asset (e.g. property, shares or a particular possession) or the residue of your estate after all other beneficiaries have been provided for. Legacies to registered charities, such as Shropshire Music Trust are exempt from Inheritance Tax and so are deduct-ed from your total estate before Inheritance Tax is paid on your estate. Legacies offer a way of helping the Trust which does not affect your current financial position.
Many people decide to leave a legacy to a charity as a way of saying “thank you”. Very often, it is an opportunity to make a gift that is greater than that which might have been possible in their lifetime. Sometimes, it is a way of remembering a loved one. Irrespective of the reason, leaving a legacy to a charity ensures that at least part of your estate goes to support work that you believe in and will have enjoyed in your lifetime.
Legacies are becoming more and more important to charities in helping to build up and maintain their reserves to fund future work. This is particularly the case at present with the pressures that exist in the wider economy. Legacies require relatively little administration and can greatly help a charity to plan ahead with confidence.
WHY SHROPSHIRE MUSIC TRUST?
The work of the Shropshire Music Trust over more than thirty years has already created a rich history in terms of the high quality of concerts in its regular annual programmes and in the work committed to music education and learning -but its future is not assured.
The trustees wish to build on this history so that the people of Shropshire and its environs have the opportunity to continue to benefit from and enjoy the fruits of the Trust’s work into the future. Wouldn’t it be sad if this were to be lost?
Young people are the future for this Trust and we must try to protect our glorious cultural heritage from the forces which threaten it.
We are asking for your help in this venture. We hope that from your own love of music you will feel inspired to assist us in achieving our long term aims. You can choose to make a general bequest which would allow the trustees flexibility in how your funds are used or you can specify a particular aspect of our work, such as education.
Shropshire Music Trust EXAMPLES:
How charitable gifts affect Inheritance Tax
If your estate is worth more than £325,000 your beneficiaries will have to pay Inheritance Tax (“IHT”) of 40% on any amount above this threshold. However, legacies to a charity are exempt from IHT and are deducted from your estate. In addition, if you leave 10% or more of your estate to charity IHT on the balance reduces from 40% to 36%. Below are some examples of the effect of charitable donations on the liability to IHT based on an estate with a value of £420,000:-
WHAT SORT OF LEGACY?
There are a number of different types of legacy available which allow you to contribute in the way which may best suit you:
This is a fixed sum of money.
You may wish to bequeath a specific item
(e.g. property, shares)
Individuals can leave the whole residue of their estate, or a percentage of it, to the Trust after all gifts, taxes and expenses have been paid.
A share of your estate will only pass to the Trust after the death of a spouse or other relative. This type of legacy protects the needs of your immediate beneficiaries during their lifetimes and only provides for the Trust upon their deaths.
Whatever you choose to do, please consult your solicitor and/or financial adviser to discuss the various options and to ensure that your wishes are worded and implemented correctly.
You do not of course have to tell us of your intentions though to do so would be a great help and encouragement for us.
Shropshire Music Trust reg.Charity 515026
SHROPSHIRE MUSIC TRUST
CONTINUING AND EXPANDING OUR ACTIVITIES
LEGACIES: Endowment & Bequests
To secure the future of the Trust we are developing an Endowment fund.
An Endowment is a gift to the Trust in your lifetime.
Income from capital gifts to this fund will provide a reliable, regular funding source over the next coming years.
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