Different types of Legacy?
There are different ways in which you can leave your lasting legacy.
You might decide that you would like Wessex Heartbeat to receive a fixed sum of money - this is known legally as a ‘Pecuniary Legacy'. Because it is a set amount of money, the only drawback with this type of legacy is that that value could be reduced over time by inflation.
An alternative way would be to leave a share/percentage of your estate once all other payments have been made and your family and friends are taken care of. This is described as a ‘Residuary Legacy' and they have a number of benefits. Not being a set amount of money means that your legacy will not be affected by inflation. It also ensures that what you wish to pass on to your family and friends is not diminished and it is also a safe choice should you be concerned about having to pay for care for yourself or your partner later in life.
A final way would be to leave a specific item/s.
If you do already have a Will, it is quite simple to make an amendment to it through your solicitor or arrange for a new Will to be drawn up.
N.B. If your estate is liable to Inheritance Tax, a gift to Wessex Heartbeat may enable you to reduce the overall amount of tax due. Gifts made to a UK charity in the seven years prior to your death are also covered by the same exemption from Inheritance Tax.
We sincerely hope that it is many years before the contents of your Will are known, but if you are able to think of Wessex Heartbeat within it, we would be very grateful.
