Dragon Legacy Leaflet - page 6

How to Leave a Gift in Your Will
It is straightforward to include a gift to the
Dragon in your Will. There are four main
types of gifts which you can choose to give:
The whole or part of your estate
(a residuary gift)
This is the gift of all or part of the value
of your estate, after debts and other gifts
and liabilities have been met. This has the
advantage of automatically keeping pace
with inflation.
A fixed amount of money or specific
item (a pecuniary or specific legacy)
This type of gift is either a specific sum of
money or something valuable to the Dragon
such as property, a piece of jewellery or
stocks and shares.
A conditional gift
If none of your preferred beneficiaries
(usually dependants) survive you, you
can name the Dragon as the recipient of
your estate in default; this is known as a
conditional gift. The wording will differ
according to individual circumstances
and you should seek advice from your
solicitor for precise wording tailored to your
circumstances.
A reversionary gift
Your assets can provide income to initial
beneficiaries of your choice during their
lifetimes and, upon their deaths, a whole
or a share, passes to the Dragon. This is
achieved through a life interest trust and
should be specifically drafted by a solicitor.
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