There are lots of ways to write your Will. Simple templates are available to buy for you to write your Will yourself, but leaving out key details could make your Will invalid. Using a solicitor is the best way to ensure that all legal formalities are followed and that your wishes are carried out.
There are a number of different gifts you can leave:
Residuary legacy – A gift made as a percentage share of your ‘residue’ estate ie. from 1% to 100% of what is left after all other gifts, taxes and costs have been paid. eg. I give 20% of the residue of my Estate to First Light South West (charity no: 1090457).
Pecuniary legacy – A gift of a fixed sum of money eg. I leave £1000 to First Light South West (charity no: 1090457).
Specific legacy – Donating a named item in your Will such as stocks, proceeds of a life insurance policy, property or land, jewellery etc. It is important to describe the item as accurately as possible eg. I leave my diamond engagement ring to First Light South West (charity no: 1090457).
Contingent legacy – A gift dependent on the occurrence of an event. This might be where a named beneficiary’s death precedes your own. eg. In the event that my daughter and beneficiary [name] should die before me, I leave a share of my estate to First Light South West (charity no: 1090457).