The Holden F5 Steam Locomotive Trust
Register Charity 1092835

Considering a Legacy?

The Holden F5 Steam Locomotive Trust

Founded over 14 years ago The Holden F5 Steam Locomotive Trust exists to build, preserve, operate and exhibit for the public benefit for educational and instructional purposes locomotives of historic or scientific importance built by, acquired by, leased by or otherwise made available to the Trust and in particular a Holden Class F5 Steam Locomotive (GER 789.) In addition the Trust affords the public access to the study, improvement and perfection of the radial wheel arrangement and to carry out the preservation and restoration of railway vehicles and artefacts.

Leaving a Legacy to the Holden F5 Steam Locomotive Trust.
Gifts to The HoldenF5 Steam Locomotive Trust by way of legacies will help to secure its future and ensure it endures for future generations to enjoy initially GER 789, other locomotives and artefacts held by the Trust. If you would like to assist you can do so by leaving a legacy in your will in favour of The Holden F5 Steam Locomotive Trust (charity number 1092835.) As legacies are exempt from Inheritance Tax, it usually benefits both the Trust and your other beneficiaries to name the Trust in your will. There are three kinds of legacies where money can be left to The Holden F5 Steam Locomotive Trust:

A Pecuniary Legacy
A gift of a specific amount, for example £1,000.00.

A Residuary Legacy
A gift of a share (or even all) of your estate after expenses and other legacies have been paid. Depending upon your circumstances, this is the best way of benefiting the Trust as the value of the legacy will tend to maintain its value in real terms. As the needs the Trust may change it is generally preferable not to place restrictions on the use of a legacy. However, we understand that people have special interests and may prefer to stipulate that their legacy is used for a particular purpose for example the construction of specific components for GER 789 or other locomotives or rolling stock the Trust may acquire or perhaps support for the training of apprentices.

A Specific Legacy
A specific legacy is when some someone decides to leave specific items to the Trust varying from collections of railway books, artefacts or larger items which may be preserved in our collection or sold for the benefit of the Trust. All such Specific Legacies are very welcome although, in the case of larger items, we would appreciate the opportunity to discuss in advance your future wishes for them. Specific legacies of non-railway assets such as investments or properties are also gratefully received.

Nomination of Pension Funds
Many people are taking advantage of the flexible arrangements recently introduced 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, 3registered charities such as The Holden F5 Steam Locomotive Trust are exempt from tax. Therefore, if you have a private pension fund, you might like to consider naming the Trust as its beneficiary. Please seek advice from your Financial Advisor for more details of this complex subject.

Keeping in Touch
We understand that drawing up a Will is a very personal and private affair. We do advise the use of professional services if your Will is at all complex.
If you would like to discuss with us in complete confidence how a legacy might be used we would be pleased to hear from you either In writing or by email: info@holdenf5.co.uk It is not necessary to let us know if you have remembered The Holden F5 Steam Locomotive Trust, however, if you decide to do so, it enables us to keep in touch and show our appreciation by inviting you to special events and to inform you of the plans for GER 789 Please feel free to contact us via info@holdenf5.co.uk .

Commemoration
If you would like a mention to be inserted into our Record of Remembrances please say so in your Will.

Thank you in advance for making The Holden F5 Steam Locomotive Trust one of your beneficiaries.