A bequest is a gift of money, assets, shares or personal property. You can specify a percentage of your estate, a specified sum, specified items or a conditional bequest.
A bequest can be in a variety of forms including:
- A pecuniary gift – a gift of a cash amount
- A residuary gift – what is left of your estate once all other gifts and costs have been paid
- A percentage gift – a specific proportion of your estate
- A gift of assets – gifts of assets such as shares, property or real estate
There are a few steps to consider when you are ready to form a Will.
- Appoint a person who will be the executor to the Will
- List your assets including shares and property
- Think about who you would like to benefit from your Will
- Seek professional services to guide you through the process such as a solicitor or online Will writing service
It is important to consider your family and loved ones when drawing your Will. And when you choose to leave a gift to a cause, you should be very proud of your decision.
