There are three kinds of Gifts in Wills which can be left to The GWR 813 Preservation Fund which are described below with suggested wording for each:

Pecuniary a gift of a specific amount: I give the sum of £   to The GWR 813 Preservation Fund .

Specific a gift of specific items, such as a locomotive nameplate or number plate, railway models, or photograph collection which may be sold for the benefit of the GWR 813 Fund. If you are considering this kind of gift, we would appreciate the opportunity to discuss in advance your intentions because some items, such as model railway layouts would not be easy to accommodate.

Specific legacies of non-railway assets such as investments or property are also gratefully received.

'I give my collection of locomotive nameplates, lamps, station signs and other objects of Railwayana to The GWR 813 Preservation Fund to be sold for the benefit of the Railway or for display in a museum as the Trustees shall in their discretion decide and as appropriate for the proceeds of sale to be applied in the general purposes of the The GWR 813 Preservation Fund.'

Residuary a gift of a share or even the whole of your estate after expenses and other legacies have been paid.

Depending on your circumstances this is the best way of benefiting the Railway as the value of the legacy will tend to maintain its value in real terms. (gift of the whole residue) My Trustees shall hold my residuary estate and the income therefrom upon trust for The GWR 813 Preservation Fund for general purposes absolutely. Benefit of leaving a Gift to The GWR 813 Preservation Fund Estates in excess of the nil rate band of £325,000 are subject to inheritance tax. However, gifts to charities do not attract inheritance tax. If you leave 10% or more of your net estate (after deducting inheritance tax exemptions, reliefs and the nil rate band) to charity, the remaining estate will be taxed at 36% instead of 40%. This makes legacy giving considerably more attractive, since the other beneficiaries will forgo less than before. Everyone ' s circumstances are different, and in all cases it is strongly advised to take legal and tax advice on the drawing up of a Will. This will be especially important where the intention is to give 10% or more of one ' s residuary estate to charity, as the sum this represents can almost certainly not be calculated in advance. Nomination of Pension Funds In additional using a Will to donate to the Fund, another possibility is a distribution from a personal pension fund. Many people are taking advantage of the flexible arrangements now available for their personal pension funds. As it is no longer compulsory to buy an annuity on retirement, a pension fund can be dealt with as the person wishes. However, any capital remaining in a pension fund is not treated as being part of an estate and neither is it covered by a Will. It is an entirely separate asset which is usually dealt with by a letter of wishes or a nomination form. Where the person dies after the age of 75 a tax charge of up to 45% will arise when the pension fund is paid out. However, charities such as The GWR 813 Preservation Fund are exempt from tax. Therefore, if you have a private pension fund, you might like to consider naming the Trust as a beneficiary.