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Types of LegacyThere are a few different kinds of gift you can leave in your Will. The most common are described below: Residuary Bequest A gift of the remainder of the estate after all other bequests have been made and debts cleared Pecuniary Bequest A gift of a fixed sum of money in your Will; their value decreases over time as the cost of living increases Special Bequest A particular named item left as a gift in Your Will, e.g. a piece of jewellery Contingent Bequest A gift in your Will that depends upon the occurrence of an event which may or may not happen, e.g. a bequest to a charity which applies only if other beneficiaries named in the Will die before the testator (person who made the Will) |
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