A bequest is a gift that you leave in your will and is the greatest commitment you can make.
There are 4 main types of bequest:
- Residual – The remainder of the donor’s estate, after first leaving gifts to their loved ones, is gifted to the cause of their choosing. A residual bequest will keep up with inflation.
- Percentage – The donor expresses the gift as a percentage or fraction of their estate that is to be gifted to the cause of their choosing. The percentage gifted can be applied to either the entire estate or the residual of the estate. These gifts are not influenced by inflation.
- Pecuniary or Specific – This is a specified gift and can be money, property, or stocks and shares.
- Whole Estate or Asset – The donor gifts the entire estate to the cause of their choosing. This type of bequest is normally left by those without family or other preferred beneficiaries, or by those wanting to achieve something very significant with their gift.
It is recommended that you discuss your options with your solicitor, family, and loved ones.
The types of items that can be given as gifts are cash, property, shares, and personal items.
Download our Bequest Information Brochure.