Types of Legacy

There are three main types of Legacies

Residuary Legacy: (a percentage of your estate)
Pecuniary Legacy: (a fixed sum of money)
Specific Legacy: (an item such as a painting)

Residuary Legacy

A gift made of the remainder of your estate after all other gifts have been handed out and debts paid off, this could be any fraction of an estate (eg a half or a third).

Pecuniary Legacy

A gift made of a fixed sum of money. Unfortunately, the value of a pecuniary gift will decrease over time, as the cost of living increases.

Specific Legacy

A particular named item left as a gift in your Will, for example a painting, sculpture or books. We would welcome the opportunity to discuss any gift with you in complete confidence.