If you want to leave a gift in your Will, there are three different ways in which to do it. It’s important that you consider the option which would be best for you and your loved ones and how you would like your legacy to be carried on. There’s no wrong answer, it’s all personal choice.
Writing a Will can seem daunting, but it’s a helpful way to plan for your future and that of your loved ones. It helps you to decide what you want to happen and ensure that all of your loved ones are looked after.
The three kinds of gifts you can leave in your Will are:
A Residuary Gift
This is a percentage of your estate after gifts have been given to your family and friends. This is often a popular choice as its value remains in line with your estate at any given time. Also, its flexibility ensures your family and friends are looked after, whilst giving to the charity of your choice.
A Pecuniary Gift
This is where you donate a specific, fixed amount to a gift to your charity of choice. But, it is important to consider inflation as the value can decrease over time.
This option enables you to leave the charity of your choice a particular gift or item, this can be anything from a personal gift, land, building, or stocks.