Planning your Will

Know what you need to include in your will.

A pecuniary bequest - a fixed sum of money. For example "I'll leave £1000 to my son"

Specific bequest - leaving a specific item of which you own. For example " I leave my jewellery to my daughter"

Residuary bequest - leaving a percentage of whatever your estate is worth after any debts, costs, liabilities, legacies and tax have been paid. For example "I leave 50% of my estate to my brother"

Reversionary bequest - Specifying what happens if the person you leave it to dies. For example "I will leave the shares of my house to my wife if she survives, but if she doesn't survive I will pass it to my daughter"

A trust - Allows you to say who will benefit from your property immediately after your death and then who you would like to benefit from your property once the first person you chose has died. For example "I will leave my house to my wife for the rest of my life, then it will go to my son"

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