You can leave a gift in your will in various ways. Here are some suggestions:
A Pecuniary Gift:
This is a gift of a specified amount of money.
A Specific Gift:
This is sometimes called a legacy. This is a gift of a specific item such as property, jewellery, stocks, shares or other valuables.
A Residuary Gift:
A Residuary Gift refers to the the remainder of your estate after all other gifts to family and friends have been distributed and all outgoings have been resolved.
A Reversionary Gift:
This is a gift in which a named person has access to the estate, which only reverts to the charity on the death of that person. For instance, the will states that a friend is allowed to live in your house until their death, when it will revert to the charity.
Some frequently asked questions:
- What is the difference between a legacy and a bequest?
A legacy is straight forward gift of money left in a will. A bequest refers to property and possessions.
- I have made my will, can I change it?
It is important you keep your will up-to-date to take account of changing circumstances. If you would like to include Irish Guide Dogs for the Blind in your existing will you can do this by adding a codicil.
- What is a codicil?
A codicil is a document that amends an existing will. There is no limit to the number of codicils which can be made to one will.
The Next Step:
Once you have made a decision to leave a gift in your will, it is simple to implement. The easiest way to go about finalising this is to speak to your solicitor.
If you'd like to discuss legacies in more detail with an Irish Guide Dogs representative, please call Neil Munday on 1850 506 300 or e-mail email@example.com.