St Peter’s College exists today because of the generosity of old scholars, parents both current and past, grandparents and staff. No matter the size or nature, a Gift in Will can leave a lasting legacy and have a profound impact on the lives of current and future students.
Once you have taken care of those closest to you, including St Peter’s College in your Will is an investment in the future of our students and provides a meaningful way to recognise your connection to the School.
Those who to choose to leave a Gift in Will, are recognised as members of the Founders’ Circle, established to acknowledge those who have left a bequest during their lifetime. To read more about making a Gift in Will, please see the FAQs below or speak to the Development team in confidence. Thank you for considering leaving a Gift in your Will to St Peter’s College.
Why leave a Gift in Will to St Peter's College?
Once you have taken care of those closest to you, including St Peter's College in your Will will be an investment in the future for our students and the quality of their education – a meaningful way to recognise your connection to the School. Since our foundation in 1847, St Peter’s College has been sustained and developed from generation to generation by wonderful, inspiring acts of generosity, large and small. By leaving a bequest, you are recognising the value the School provides to the wider community through the exceptional education of our students. This education inspires them to make their own lasting and positive contribution to society.
What types of Gift in Wills are there?
Specific bequest (pecuniary bequest) is a specific sum of money or specific assets in the form of property, shares or items of value, such as works of art, jewellery or furniture. Please bear in mind that the gift may fail if you have subsequently disposed of the specific assets. A residuary bequest is a percentage or the entirety of what is left of your estate after all of your other wishes have been carried out and expenses in finalising your estate have been met.
What happens to my Gift in Will?
Your executor will contact the School so that we can start working together to fulfil your wishes. The School will involve any family members, as advised by the Executor, so that they can be involved in your legacy, if they so choose. The School will ensure that ongoing generations are aware of your generosity and the impact you have made through your gift, unless you have indicated the gift should remain anonymous.
How are the funds managed?
Depending on the specific terms of your Will, your gift will either be disbursed immediately in keeping with your wishes, or in the absence of any specific direction, it will be held in the School’s Endowment Fund to be expended on the School’s area of highest priority according to the School’s policy at the time. The key financial objective of the Endowment Fund is to provide long-term capital growth as well as a stable annual income stream in perpetuity. To assist with reaching these goals, monies received are invested with professional fund managers by the School’s Investment sub-committee. While the distribution of income from your gift will be managed according to your wishes, it is important to note that investment decisions are at the discretion of the School and the performance of the fund is regularly reviewed by the Foundation Board.
How should I word my Gift in Will?
If you would like to leave a Gift in Will to St Peter’s College, we have provided the following clauses for your consideration. It is recommended that you seek independent legal advice when drafting your Will as tax, among other things, may need to be considered depending on the recipient and the assets bequeathed. Bequest to specific fund: “I GIVE [my whole estate] or [the residue of my estate] or [X% of the residue of my estate] or [the sum of $] to [St Peter’s College Foundation Building Fund] or [the trustee for St Peter’s College Foundation Inc. Museum Trust] or [St Peter’s College Foundation Library Fund] or [the trustee for St Peter’s College Scholarship Trust] of Hackney Road, St Peters, SA 5069. I DECLARE that the receipt of the Treasurer or other authorised officer for the time being of St Peter’s College Foundation Inc. shall be a sufficient discharge to my trustees who shall not be responsible to see the application of the gift.” Unrestricted Bequest to St Peter’s College Foundation: “I GIVE [my whole estate] or the [residue of my estate] or [X% of the residue of my estate] or [the sum of $ ] to St Peter’s College Foundation Inc. of Hackney Road, St Peters, SA 5069, to be applied by the Foundation as it sees fit. I DECLARE that the receipt of the Treasurer or other authorised office for the time being of St Peter’s College Foundation Inc. shall be a sufficient discharge to my trustees who shall not be responsible to see the application of the gift.” Download the wording here – PDF
What is the quickest and easiest way to make a Gift in Will?
If you already have a Will, you may simply add a codicil to include St Peter’s College. A codicil is a document that amends, rather than replaces a previously executed Will – a straightforward and inexpensive procedure. If you do not have a Will, we strongly recommend that you seek professional advice about establishing one. It is never too early to think about estate planning. If I decide to make a Gift in Will , do I need to contact St Peter’s College? By informing the School about your Gift in Will, you enable us to thank you in your lifetime. For those who are interested, we also like to keep you informed and involved in the life of the School. You may also wish to be recognised as a member of the Founders' Circle.
What if I change my mind?
You can change the amount or cancel your bequest at any time. We strongly recommend that you consult a professional when making changes to your Will to ensure that your amendments are captured correctly.