Play your part

Leaving a gift in your Will is a remarkable and unique way to support the Philharmonia Orchestra. It is also a wonderful way to make a meaningful contribution to the work of the Orchestra during your lifetime without giving anything now. These gifts help to preserve every aspect of the Philharmonia's work, from live concerts and recordings, to education and cutting edge digital projects, and fulfil our mission to make incredible music accessible to anyone in the world in the most creative, exciting, and engaging way.

How can I leave a gift in my Will?

A Will is a legal document, and we therefore advise you to obtain professional advice before making a new Will or changing an existing one. Seeking an advice from a solicitor will ensure that your Will accurately reflects your wishes and is legally binding.

George Ide LLP is a highly respected firm of solicitors. They will provide a discounted Will making service to supporters of the Philharmonia Orchestra, as well as make a donation to the Philharmonia every time a supporter uses the service.

You can make your Will with George Ide LLP online where they have an easy-to-use online will writing system, over the phone or by visiting their office.

Alternatively you can request a pack from Jonathan Kuhles at the Philharmonia on 020 7921 3918.

You don’t have to leave a gift to the Philharmonia in your Will to use George Ide LLP’s charity Will writing service.

George Ide LLP is completely independent of the Philharmonia Orchestra. If you wish, you can use the Law Society’s 'find a solicitor' service on their website www.lawsociety.org.uk to find other solicitors close to you.

What kind of legacy gift can I leave?

Charities like the Philharmonia can receive two main types of legacies: Pecuniary and Residuary.

A Pecuniary gift is a set amount of money, and might be an attractive option if you would like your legacy to support a particular project. Details about specific costs can be easily obtained by contacting the Philharmonia. The drawback of a pecuniary gift is that your preferences and financial circumstances may change, which could require frequent amendments to your Will.

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A Residuary gift is a proportion of the remainder of your estate, after specific gifts have been fulfilled. This means that your loved ones are looked after, but also that charitable causes such as the Philharmonia are remembered as well. Even 5% of your residuary estate can have a lasting impact on the Philharmonia's work.

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Are there other options for remembering the Philharmonia in my Will?

Specific Gift: many people choose to give a specific item, including musical instruments, collections of memorabilia, or even property.

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In Memoriam Gifts: this is a special way to remember someone who had a fondness for the Orchestra - a Friend, a faithful concert goer or even a former member of the orchestra. This can take the form of a dedicated donation or may be given in lieu of flowers at memorial services and funerals. You may also like to express a wish in your Will for loved ones to consider this opportunity for yourself.

I already have a Will. How can I update this to reflect my gift to the Philharmonia?

If you would like to add the Philharmonia as a charity you wish to support to an existing Will, your advisor may attach a written instruction called a codicil. You may invalidate your Will if you make these changes yourself, so it is important to seek professional advice before amending or changing your Will in any way. Codicils must be signed in the presence of two witnesses who are not beneficiaries.

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How will my gift be allocated?

Legacy gifts typically benefit the Philharmonia Trust which secures the long-term future of the Orchestra and enables the Philharmonia to undertake special projects and initiatives. We do understand that you may wish to leave a gift in your Will to benefit specific areas of interest such as orchestral chair endowment or live concerts, recordings, tours of education projects. If you let us know how you would like your gift to be used, we will do our best to ensure that your wishes are carried out.

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Inheritance Tax

As of April 2012 any estate which bequeathes at least 10 per cent of its value to a charitable or cultural cause will result in a reduction in inheritance tax, from 40 per cent to 36 per cent.

Other helpful hints

• Appoint a professional solicitor. Many banks also give advice on this matter.
• Work out the value of your estate. This should be the estimated sum of your property, money and possessions less any outstanding mortgage or loan.
• Decide who will benefit from your Will.
• Consider inheritance tax, if any, which is often paid out of the residue of the estate. Specific gifts are often given free of inheritance tax.
• Choose your executors, to make sure your Will is properly discharged. Executors can be beneficiaries from your Will.
• Keep your Will safe. Make at least two copies and entrust one to your solicitor.
• Keep your Will up to date. You can amend your Will at any time.

Contact

If you are considering remembering the Philharmonia in your Will, or would like to discuss this or a similar matter further, please contact: