Q- Please explain the difference between a pecuniary and residuary legacy. Could you also advise as to which type of legacy would be more beneficial to the recipient?
- A pecuniary legacy is a set amount of money decided at the time you write your will. Its real value will decrease over time due to inflation unless it is index linked to the Retail Price Index.
- A residue is whatever is left after all debts, liabilities and other gifts have been paid off after you have died. Generally this legacy is of the greatest benefit as its value increases in line with the value of the estate.
Registered charity number
Gifts of Land
Marital/Civil Partnership Status
Value of a legacy
Wills and Witnesses