Remembering Tate
Leaving a legacy to Tate in your Will is one of the most important gifts you can make.
You will ensure that crucial resources are in place to help us plan and secure Tate’s future with confidence. Every gift, whatever the amount, can help us build and care for the Collection, support special exhibitions and deliver innovative learning, research and conservation programmes.
How to leave a legacy to Tate
Anyone can leave a legacy gift to Tate. You may wish to support Tate with the residue of your estate, a specific gift of money, or a work of art.
An unrestricted legacy is usually the most beneficial way of supporting Tate’s aims. It will allow Tate the greatest flexibility to use your gift in the most effective way, enabling us to support areas of greatest need, now and in the future.
If you would like to support a specific gallery or particular area of Tate’s work, our Legacy Manager would be delighted to discuss this with you so that we fully understand your wishes.
Legacies
A legacy is a simple and flexible way of giving, and can also provide valuable tax benefits for donors. There are a number of different types of legacy you may wish to consider:
- Residuary Legacy: a gift of all or the remainder of your estate after all other payments and legacies have been made. The advantage of a residuary legacy is that its value will grow in line with inflation.
- Pecuniary Legacy: a gift of a specified sum of money. If you are thinking of making this type of gift you might want to make it inflation proof by linking it to the Retail Price Index. According to the National Office of Statistics, a gift of £1,000 written into a Will in January 1980 would have been worth £300 by June 2007.
- Specific or Non-Monetary Legacy: a gift of an asset such as property, shares or works of art. If you are considering leaving works of art for the Collection please discuss this with us.
- Reversionary Legacy: a gift of assets to a chosen beneficiary subject to the rights of a named person or persons to receive the benefit of those assets during his or her lifetime. The assets would then pass to Tate on the death of that person.
- Conditional Legacy: this ensures that in the event that none of your named dependants were to survive you, your estate would be left to Tate.
If you have decided to remember Tate in your Will, please let us know by contacting our Legacy Manager. This will enable us to express our thanks to you and keep you, or someone close to you, informed and involved with Tate. All information will be treated in the strictest confidence, and does not involve you in any binding commitment.
If you would like more information on the tax benefits, suggested wording for your Will, or to discuss any aspect of leaving a legacy gift to Tate please contact:
Legacy Manager
Tate
Millbank
London SW1P 4RG
Telephone: +44 (0) 20 7887 8637
These pages are designed to give you general information: they are not intended to provide specific advice about the legal or tax implications of charitable giving. Before making a gift to Tate, you should consult with your accountant, solicitor, or a financial advisor for a thorough analysis of your individual situation and the tax consequences to decide which of these ways of giving might work best for you. You will not be under an obligation towards Tate, and this will not commit you to a particular course of action, or limit your freedom to change your Will.
Pierre Bonnard
Nude in the Bath 1925
Bequeathed by Simon Sainsbury 2006, accessioned 2008
© ADAGP, Paris and DACS, London 2002
Pablo Picasso
The Three Dancers 1925
Purchased with a special Grant-in-Aid and the Florence Fox Bequest with assistance from the Friends of the Tate Gallery and the Contemporary Art Society 1965
© Succession Picasso/DACS 2002
Dame Barbara Hepworth
Tides 1946
Presented by Ben Nicholson OM 1975
© Bowness, Hepworth Estate