You can leave a share of your estate, a fixed sum of money, or even a treasured item.
• A share of your estate: A residuary gift
This is a percentage – or all, if preferred – of your remaining estate, once all fees, outstanding costs and other gifts have been deducted.
• A fixed sum of money: A pecuniary gift
If you’d rather leave a sum of money, it’s worth considering linking your legacy to the Retail Price Index. This will ensure that the value of the gift you make doesn’t depreciate over time.
• A postponed gift: A reversionary gift
This allows you to leave your estate, or part of it, to a specified person during their lifetime.