Friday 10 February 2012
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There are six different types of legacy – your solicitor will be able to advise you which ones would work best for you.
| Legacy Type | What it means |
| Residuary Legacy | A legacy that represents the whole (or a percentage) of the value of your Estate after all taxes and other liabilities have been paid and other gifts deducted |
| Pecuniary Legacy |
A gift of a specific sum of money |
| Specific Bequest |
A specific item, such as a house, car or article of jewellery |
| Reversionary Legacy |
A legacy made to a particular person for the period of their lifetime, after which it passes to another specifi ed person (or organisation) |
| Conditional Legacy | A legacy made to a person or an organisation providing a particular condition is met (for example, when the benefi ciary reaches a specifi c age) |
| Gift on Trust | A legacy where your executors appoint trustees who are responsible for looking after the gift for the named benefi ciary (for example, a trust for a person until they get married or reach a certain age) |
Legacy wording for your Will
If you wish to change your Will in order to leave a bequest to Sue Ryder, please ask your solicitor to use one of the following forms of wording:
A Residuary Legacy (a share of your Estate). To leave a share of the residue of your Estate: ‘I give to Sue Ryder (Registered charity number 1052076) a XXX share of the residue of my Estate for its general purposes’.
NOTE: ‘XXX’ specifies the size of the share (e.g. one quarter, one third, a half)
a specific sum of money). To leave a specifi c sum of money: ‘I give to Sue Ryder (Registered charity number 1052076) the sum of £……..(………………………………………amount also shown in words) absolutely free of all taxes for its general purposes.