Legacies - Please spare a few minutes to read this important part of our website.
In the eleven years since its foundation the Trust has built, and continues to build, a substantial family archive, certainly one which merits active preservation. Since its beginning the costs have been largely born, very happily, by the settler / keeper but inevitably he will not be here for ever.
An endowment fund has been established to which friends and family have, over the years, generously contributed more than £20,000 and this has been kept invested away from day to day running expenses. Its purpose is to ensure the long term survival of the Trust and its increasingly important collection. For instance, it is not generally known that the Trust holds the largest collection of Elizabeth Cobbold paper-cut Valentines in the world and also the largest collection of Richard Cobbold paintings and first editions.
However, the Trust needs to continue to build up its reserves and will therefore undertake a number of fund raising programmes. Important among these is the attraction of legacies. We have a simple leaflet (illustrated) which explains our request and if you do not have one of these please ask for one by ‘phone: 01752 894498 or by email to firstname.lastname@example.org or by writing to The Cobbold Family History Trust, 14 Moorfields, Moorhaven, Ivybridge, Devon, PL21 0XQ.
Interest in family history is usually greater among older people who would therefore be inclined to support the Trust financially but sadly that is exactly the group of people most concerned about providing for their long term care should it become necessary. A legacy is the perfect solution to this problem. We beseech readers to consider writing a legacy for the Trust into their wills.
Whilst we are most certainly not offering legal advice, we can give some examples of how legacies are particularly well suited to the encouragement of our Trust's activities.
Pecuniary Legacies are the bequest of a sum of money and the Trust will be happy to comply with the donor’s wishes as to the way this money is used, maybe for a research programme bearing the donor’s name or for the acquisition of a collection, also to bear the donor’s name.
Residuary Legacies are the bequest of a percentage of the testator’s residuary estate which allows adequate provision to be made for dependents and loved ones before the gift of money to the Trust. This ensures that immediate family come first but at the same time the wider family is not forgotten.
Specific Legacies are the bequest of a specific item or items, maybe a painting, an album, a piece of silverware or a collection of books into the permanent safe-keeping of the Trust. This is a most appropriate legacy for a collection of family memorabilia which should be kept in tact where there are a number of inheritors. One or two gifts of this sort have already come to the Trust and donors have derived considerable satisfaction from the knowledge that their precious collections will be preserved, complete, within the safety of the Trust.
Reversionary Legacies may be family assets or money given in rather the same way as specific legacies but only after they have been enjoyed during the lifetime of a specified loved one. For instance a capital sum or a picture or books might be given to the Trust by the will of the first spouse to die but not passed over to the Trust until the second death.
One might expect that items bequeathed by either Specific or Reversionary Legacies would be items to be preserved by the Trust and normally they are. This does not have to be the case; the donor can dictate whether the item is for retention or whether it may be sold if the Trust wishes. The donor’s wishes will always be implemented.
Please consider leaving us a legacy.
Please ask for our leaflet if you don’t have one already or you can download a copy by clicking the button below.
Please consult your lawyer.