Types of Legacy
There are three main types of legacy.
Residuary Legacy (a percentage of your estate)
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 fixed sum of money)
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 (an item such as a painting)
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.
Talk to Russell Le Page, Head of Development in complete confidence.