TYPES OF GIFTS YOU CAN LEAVE IN YOUR WILL.
One can leave legacy gifts to a charity in the will, as follows:
A sum of money
People can gift a fixed sum of money, like £1000, £5000, or £10,000. This is called a pecuniary legacy.
An Item or Asset
One can also gift specific assets such as property, stocks, shares of valuables like jewellery or antiques. This is called a Specific legacy.
A share of your estate
The residue wealth after distributed, or a percentage of what remains, as a gift can also be gifted. This is called a residuary legacy.
A gift in trust with reversionary beneficiaries
Leaving a gift in trust means you leave your estate, or part of it, on trust to a particular person or loved one. This person can benefit from the assets, and receive income from them, throughout their life. But when they pass away, the assets will pass to other beneficiaries of your choice, called ‘reversionary beneficiaries.’ Many people choose a charity to be the reversionary beneficiary of their gift in trust.
For further information, please contact Ashby and Partners LLP on 020 7112 5175