Your estate is everything that you own, including any life insurance policies that will be paid on your death.
A Specific legacy is the gift of a specific item or asset such as shares or jewellery.
A Pecuniary legacy is a fixed sum of money. It is worth bearing in mind that inflation can erode the value of pecuniary legacies, so it is worth reviewing your Will on a regular basis, whether or not your circumstances change.
A Residuary legacy is a gift of all or part of your net estate (what remains after all taxes, specific gifts and the cost of administering the estate have been paid). This type of legacy should be expressed as a percentage or share of your estate.
Executors are the people appointed by you in your Will to ensure that your wishes are carried out and your estate dealt with in accordance with your Will. In certain circumstances, the RSPB can act as your executors. Please contact us for information.