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| Gifts | ||
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Specific gifts. Decide now if you wish to leave any other members of your family or friends a special gift. Pecuniary legacies. This is the term for a gift of money again give some thought as to anyone, other than your spouse or children, who you may wish to leave a legacy to, this also can Include gifts to your favourite charity. Residuary legacy. This covers all the Remainder of your estate, and in the case of a married couple passes each to each other and then on to any Children in equal shares upon the death of the survivor.(Unless you wish to make other arrangements). Long stop. Also described as the total calamity or disaster clause, so called because these beneficiaries will only inherit if all those named in the will fail to survive you. |
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EXAMPLE:
MR NEWMAN left some money to a worthy charity. He left £5000 to the MAKE-A-WISH FOUNDATION, and also £1000 to a friend. The balance of the NEWMANS estate went to their children. This was referred to as the residue. MRS NEWMAN was delighted that she had chosen a home Will Writing service and could not wait to tell her friends.
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