Leave a Legacy
Leaving a legacy in your Will is one of the most important gifts that can be made to Hi Kent. For many people, it is a unique way of expressing a genuine and lasting commitment that will help support our services across Kent.
The information below shows the wording that can be added to an existing Will to do this.
Types of legacy
There 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. The value of pecuniary legacies will decrease over time, as the cost of living increases.
- Specific Bequest - a particular named item left as a gift, for example, a piece of jewellery
- Contingent Bequest - a gift that depends upon the occurrence of an event, which may or may not happen. An example is a bequest to a charity which applies only if other beneficiaries named in the Will die before the testator (person who made the Will)
Examples of Wording for Your Will
Should you wish to remember Hi Kent in your Will you might wish to take the following wording suggestions for a residuary bequest and a pecuniary bequest to your solicitor:
Residuary Bequest - a proportion
I give ...% of the residue of my real and personal estate which I can dispose of by Will in any manner I think proper to Hi Kent: The Treasurer, Hi Kent, 18 Brewer Street, Maidstone, Kent ME14 1RU and the receipt of the Trustees or the proper officer for the time being of Hi Kent shall be a complete discharge to my Executors.
Pecuniary Bequest - a set sum
I give the sum of …pounds to Hi Kent; The Treasurer, Hi Kent, 18 Brewer Street, Maidstone, Kent ME14 1RU and the receipt of the Trustees or other proper officer for the time being of Hi Kent shall be a complete discharge to my Executors.
It is important to ensure that the following clause is inserted, whichever wording you need to use:
If, at my death, any charity named as a beneficiary in the Will or any Codicil hereto has changed its name or amalgamated with or transferred its assets to another body then my Executors shall give effect to any gift made to such a charity as if it had been made (in the first case) to the body in its changed name or (in the second place) to the body which results from such amalgamation or to which such transfer has been made.
Please also remember to use our full name, Hi Kent, and the correct address as shown in the Pecuniary and Residuary bequest sections above.
The legal terms used in the process of making or updating a Will can be confusing. Here we explain the words and phrases that you have read above:
Beneficiary – Any person or organisation to whom you wish to leave a legacy or bequest (gift) in your Will.
Codicil – Any change or addition that you make to your Will. It must follow the same legal formalities as the original Will.
Estate – The total sum of your possessions, property and money (minus debts) left after your death.
Executor(s) – Person(s) appointed by you to make sure the wishes in your Will are carried out.
Legacy – A bequest or gift left in your Will. It can be in the form of money, property, stocks and shares or possessions.
Probate – The legal procedure after death which confirms your Will is valid and confirms the executors’ authority to carry out your wishes.
Testator – A person who has made a Will.