Legacy Information Pack

How does it work?

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 is called a residuary bequest.
• Pecuniary Bequest
  A gift of a fixed sum of money in your Will is called a pecuniary bequest. 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 in your Will is known as a specific bequest - for example, a piece of jewellery.
• Contingent Bequest
  A gift in your Will that depends upon the occurrence of an event which may or may not happen is known legally as a contingent bequest. 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).

Making a Will and keeping it up to date is very important - it puts you in control. You can use the process below to make sure your Will reflects your wishes.

1. Assess your estate Make a list of all your significant possessions. For example, your house, car, savings and insurance, and other items of value.
2. Decide who you would like to benefit.You can choose to share your estate between anyone you like - your spouse, family or friends. You could also leave a legacy to a charity or good cause, such as The Albert Kennedy Trust, after your family and friends have all been properly provided for.
3. Decide what sorts of gift to leave You can leave any kind of gift: a share of your estate (residuary), an amount of money (pecuniary) or specific items. Your solicitor will also be able to advise you on the benefits of different types of legacy.
4. Choose your executors You should now select between one and four people who will be able and willing to ensure the wishes within your Will are carried out. You can choose your bank, your solicitor, or willing friends or relatives.
5. Make a list of any other questions you may want to ask your solicitor.
6. Arrange to see your solicitor to make your Will This shouldnít take long - but itís important to involve a legal professional to draw it up for you. If all the legal formalities are not correctly followed, your Will could be declared invalid. We can help put you in touch with several LGBT friendly solicitors.
7. Ensure that your Will is correctly drawn up. When you are happy with the contents of your Will, make sure that it is executed and witnessed properly. Your solicitor can advise you on this.
8. Keep your Will up to date. You can update your Will at any time to reflect changes in your circumstances - such as the sale of your house, or the death of friends or loved ones. Your solicitor can advise you on the best way to change your Will - either by re-writing it or by adding a codicil.

Update your Will FREE of charge
The Albert Kennedy Trust has teamed up with a company who can help you make or update your Will at no cost to you. The Albert Kennedy Trust 'Leaving a Legacy Service' operates in Manchester and London call 020 7831 6562 to discuss the details or email This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Over 300,000 people die each year without leaving a will