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A legacy gift is a specific item or donation left in a Will. It’s also commonly known as ‘gifts in Wills’. Legacy gifts are one of the most significant contributions you can make to a cause you care about. Over 1/3 of Cancer Research UK’s work is funded by gifts in Wills.
What is a Legacy Gift?
It is important that the gift is described precisely in your Will so that the executors can understand exactly what you intended.
There are different types of gifts in Wills. Some of the most common ones we receive are:
Residuary gifts - A share, or sometimes all, of an estate after all the other payments have been made.
Pecuniary gifts – A specific sum of money
Specific gifts - A particular item, such as property, antiques, jewellery and shares.
Gifts in Wills?
Leaving a share of your estate to charity is also known as a ‘residuary gift’. One of the advantages of leaving a share of your estate to charity is that it doesn't lose value over time, and if you leave a proportion to a charity, you can still ensure other beneficiaries are provided for first.
Leaving your Estate to Charity?