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Bequests & Legacies
When making a Will, most people’s first thought is (quite rightly) to cater for their family and loved ones, but many individuals also choose to make some kind of provision for their favourite charity. Such provisions, known as bequests or legacies, are hugely important to charities and quite often account for a significant amount of their income.
There are several types of bequest, the most common of which are:
Residuary Bequests – This is where the remainder, or a portion of the remainder, of your estate (after all other gifts/legacies have been made, and after payment of all liabilities and expenses) is left to the charity.
Pecuniary Bequests – Probably the most common type of bequest where a specific sum of money is left to the charity
Specific Bequests – Where a particular item or specific goods are left to the charity, such as an item of jewellery or other non-monetary assets.
Contingent Bequests – This is where a gift is made only on condition that particular circumstances or a particular event apply (for example, if another benefactor of your will has passed on prior to yourself).
Of course, we hope it will be many years before the content of your Will is revealed, but if you would like to make provision therein for the Wessex Neurological Centre Trust to benefit then it is really quite simple to do so. If you already have a Will then you can simply ask your solicitor to add a Codicil giving details of the bequest you’d like to make. If you don’t have a Will, then your solicitor will be able to help you to prepare one and advise on how best to make provision for a bequest to the charity. If you would like any further guidance then please do not hesitate to contact us.
Please see also;