It is important to indicate which type of gift you wish to leave. You can leave a restricted gift for a specified purpose, or an unrestricted gift, which has no conditions attached. An unrestricted gift allows us to make the most of your generosity according to our area of greatest need at the time. There are four main types of legacy gift.
A residuary legacy is a share of your estate. This can either be a percentage of what remains once your loved ones are provided for. As this gift is a proportion of your estate, it keeps pace with inflation.
A pecuniary legacy is a fixed sum of money. You can choose to leave any amount, but since inflation reduces its value, you may wish to review the gift from time to time. You can also index link a pecuniary legacy to ensure it keeps its value in line with inflation.
You can leave a gift of a particular item such as property, shares or a fine stringed instrument. Please do discuss this with us first, as in some cases there may be transport costs to consider.
A reversionary legacy allows a beneficiary such as a spouse or a dependent to benefit from your assets during their lifetime, such as living in your house, with all or part of the assets passing to the RCM on their death. This provides peace of mind that a loved one’s interests will be protected in their lifetime.