Legacies and Bequests >

Generations of students have benefited from the generosity and foresight of alumni, friends and supporters who have chosen to remember the School in their will. Their support makes a clear statement about the importance of higher education and creativity to society as well as demonstrating your support for the GSA.

Legacies large and small are very important to the future of the GSA providing funds to create general endowments, scholarships, new buildings, refurbishments and pump-prime new initiatives across the School. Many of the future aims and ambitions of the School will only be made possible through the generous support of our alumni, friends and supporters.

By leaving a legacy to the GSA you will be helping an institution that has pushed the boundaries of creativity for over 150 years.

Love the arts, Leave to the arts

During February 2013, you will have the opportunity to get a basic will written, or amended, free of charge if you leave a legacy to an arts charity. Visit the "Love the arts, Leave to the arts" website to find out more.

How to make a gift

If you do not already have a will, you will need to consult a solicitor, who can explain the options. 

Find a solicitor on the Law Society of Scotland website

Find a solicitor on the Law Society website 

Our Current Priorities

You can choose to leave a legacy to a specific project at the Glasgow School of Art or to make a general bequest where we select from our current projects and capital campaigns.  

Widening Access

Scholarships

Academic Initiatives

 

Principle Forms of Legacies and Bequests

There four principle forms of legacy. You may wish to discuss these options with your solicitor before deciding which one suits you best.

A residuary gift

This is the term given to those legacies where the residual value of your estate is left to the School, once all pecuniary legacies, debts and any other fees have been met. You can choose to leave the whole or part of the residue to the School.

A pecuniary gift

This allows you to leave a specified sum of money to the School. You can either specify that the value of the gift remains constant, or you can leave instructions for the gift to take into account inflation at the time of your death.

A specific gift

This is a legacy which is not in the form of money. Instead, your gift may consist of property, stocks and shares, works of art or other valuable items. It is important to review this form of legacy on a regular basis, because the gift will lapse and fail if the asset is no longer in your estate at your death.

A reversionary gift

A reversionary legacy allows for your estate, or particular assets, to be passed on to your spouse, children or other named individuals, for their lifetime. On their death the whole or a portion of these assets revert to the beneficiary of the reversionary legacy.

Tax Benefits

Legacies are a lovely way to make a contribution beyond one's own lifetime and in doing so, there are some practical benefits for you and your family. For example, heirs may be able to enjoy the tax advantages of legacies because the GSA is a recognised charity (no inheritance tax is payable on gifts to charities and capital gains tax exemptions may also be available). For more information on the benefits of leaving a legacy you should consult your solicitor or visit the Inland Revenue website.

 

Letting the Glasgow School of Art know

If you decide to include the Glasgow School of Art in your will and would like to let us know, you can do so by contacting the Development Office.  Letting us know will enable us to help and advise you, to thank you, and recognise your special relationship with the Glasgow School of Art.

Please contact Geraldine Mitchell, Development Manager on 0141 566 1420 or email g.mitchell@gsa.ac.uk

 

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