We're funded by your generosity.
Individuals can become members of the Guild and pay a monthly or annual donation. Donations are also received from IMarEST members and branches throughout the world and from companies associated with the marine industry.
The Guild also sustains a regular income through a diversified investment portfolio and is occasionally the beneficiary of a legacy in remembrance of a loved one. Read on for more information on leaving money in a will for the Guild.
Giving by legacy
Leaving money in a will can be done in a few different ways. Here are some of the types of will that can ensure money is donated to the Guild of Benevolence.
Pecuniary
This is a simple form of legacy giving a specified amount of money to a named individual or organisation and is easy to administer. However, it does have the drawback in that inflation will reduce the monetary value of such a legacy.
Residuary
This involves leaving all or part of the net residue of an estate after all pecuniary legacy, debts, fees and other charges have been met. Therefore, there is no requirement to quantify the amount to be left or to take into account the effect of inflation.
Conditional
This is suitable for those who would not otherwise wish to bequeath any of their estate to the Guild. It provides an alternative to an estate going to the Crown in the event that none of the named dependents or other beneficiaries survives the deceased. In this event the entire estate would be given over to the Guild as the ultimate beneficiary.
Specific
If a person is a beneficiary under a Will, all or part of the inheritance may be transferred to the Guild by means of a ‘Deed of Variation’.
Amounts transferred in this manner are free from inheritance tax, thus giving the Guild the opportunity of benefitting during that persons lifetime.
Next steps
Decide which type of the above gifts you would like to leave for the Guild and consult with your chosen Solicitor. You must arrange for your solicitor or friends or family to act as executors of your estate.
Complete the Legacy Pledge Form and send it to the Guild. You can scan and email this to [email protected], or post it to:
The Honorary Secretary
Guild of Benevolence of the IMarEST
1 Birdcage Walk
London
SW1H 9JJ