Devitt Legacy Society

The Devitt Legacy Society is named after the remarkable Chairman of Governors, Sir Philip Devitt (1876-1947). No single individual in the history of the Nautical College Pangbourne did more to ensure its character, survival and growth, or to guarantee the national reputation it had gained.

The fourth son of founder Sir Thomas Lane Devitt, Philip played a key lobbying and organisational role in the creation of the Nautical College. In 1921, with his father in poor health, it was Philip who played the leading role in saving the College from bankruptcy and instead invested much of the family fortune in the College. From then on, ensuring the future of Pangbourne became a personal crusade for Sir Philip.

We have all undoubtedly benefitted from the generosity of previous benefactors, starting of course with the Devitt Family. But benefaction should be a continuing process and leaving a legacy to Pangbourne is an excellent way to ensure our Founder's vision can continue for the benefit of future generations of Pangbournians.

In addition to the College's commitment to widen access to the College education, it remains fully committed to maintaining and developing the Campus. But these are ambitious targets that need long-term financial support.

The College endeavours to show its appreciation towards those who pledge a legacy by offering membership of the Devitt Legacy Society. This meets annually for Devitt Sunday, normally held at the first College Sunday in September, with a Chapel Service, Parade, and an enjoyable and well-supported lunch with speeches, followed by an event in the afternoon. It is an excellent way to meet up with contemporaries and other OPs who wish to support the school in this way.

The President of the Society is Mark Dumas (H, 64-68). He is always keen to meet new members and writes an annual President's letter in August. Membership is open to all including Old Pangbournians, current and former parents, current and former members of staff and Friends of Pangbourne College. Members are encouraged to allow their name to be listed in the annual Pangbournian Magazine, which serves the Society well by encouraging others to follow their example.

If you are interested in becoming a member of the Devitt Legacy Society, please contact Tim Hamilton at the Pangbourne College Development Office.

Email

+44 (0)118 976 6697

THE ADVANTAGES OF A LEGACY IN YOUR WILL

Legacies are made from the value of your estate rather than from cash flow
Legacies made to charities are exempt from Inheritance Tax (IHT)
As an example, if you should choose to leave £10,000 to a charity, this would save your estate 40% in IHT (£4,000), thereby 'costing' a donor's estate just £6,000
It is worth bearing in mind that, under current legislation, a deceased's estate that gives at least 10% to charities reduces the amount of IHT paid from 40% to 36%
Consequently, if you leave 4% to charities, you may as well leave 10% since the net effect to your other beneficiaries will be identical Pangbourne College is a registered charity (no. 306096)

TYPES OF LEGACY

RESIDUARY
A specific share of an estate is left to Winchester College, usually by stating a percentage or a fraction of the whole.

PECUNIARY
A specific sum of money (or other asset) is left to Pangbourne College.

INDEXED
To ensure that the real value of a Pecuniary Legacy is protected, it is index-linked to inflation.

OTHER FACTORS

Making a provision for a surviving spouse

Many are concerned that there is enough capital left in their estate to support their surviving spouse. This can be ensured by both spouses agreeing to make due mention in their Will or Codicil, to the effect that the legacy to Pangbourne College is only paid out on the second death.

LEGAL ADVICE

We would always recommend that you should seek independent legal advice.

Tim Hamilton, Development & Alumni Manager at Pangbourne College, is happy to provide initial guidance and to provide you with simple Codicil forms, should you wish to adopt this approach.

Email

+44 (0)118 976 6697