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What is a bequest and why should I leave one?
A bequest is an enduring way to support a particular cause or charity and create positive change for generations to come.
A bequest is a donation that is left to a charity or organisation of your choice, as stated in your Will. A bequest can be:
- A Specific Gift: a sum of money, property or shares. You can ask your solicitor to draft a cash gift to account for inflation.
- A Residuary Gift: the remainder of your estate after all expenses, debts and taxes have been paid, and after any specific gifts.
- A Percentage Gift: a percentage of your residuary estate. This gift is used if you wish to divide your estate among a number of people and/or organisations.
After you tend to the needs of your loved ones, leaving a charitable gift in your Will is one way to ensure that you leave behind a lasting legacy of compassion and love. Your gift will be used efficiently and cost-effectively, so it will have the greatest impact.