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How to Leave a Legacy

There Are Four Simple Ways

Pecuniary Gift

Pecuniary gift in a will is a gift of a specific sum

“I give the sum of €—- to Jack and Jill Children’s Foundation and I direct that the receipt of the treasurer or other proper officer for the time being of said organisation shall be proper and sufficient discharge for the same”

Residuary Gift

Residuary gift in a will is a gift of part of an estate.

This is a share of your estate that hasn’t been promised to family or friends. These kinds of gifts are enormously Valuable in supporting our work.

“I give to Jack and Jill Children’s Foundation a fraction (Fraction sign) of the residue of my estate and I direct that the receipt of the treasurer or other officer for the time being of the said organisation shall be a full and sufficient discharge of the same”

Specific Item

Specific item is where you generously select a specific item of value like stocks, shares, jewellery, property, the proceeds of a life insurance policy or other valuable items.

“I bequeath (the Item specified) to the Jack and Jill Children’s Foundation and I direct that the receipt of the treasurer or other proper officer for the time being of the said organisation shall be proper and sufficient discharge for the same”

Codicil to a Will

Codicil to a will is an addition to a will if you have written your will and decide you would like to leave a gift to the Jack and Jill Children’s Foundation.

You can ask your solicitor to add a codicil to your will and it is signed in the same way as your original will with a witness present. It is then added to the permanent part of your will.

Helpful Tips For Making A Will

The purpose of a will is to ensure that when you are gone the property you own is distributed among those you love in accordance with your wishes.

To make a Will you will need:

To bring all your personal details to your solicitor together with those of your family, dependents and any charity or other person you wish to benefit.
To consider whom you appoint as your executor, this is the person who ensures your will is put into effect. You may consider two executors – The solicitor who drafts up your will could be an executor and a family member. An executor can benefit under the will so they can be a family member should you wish.
If you have dependent children, you will have to consider who to assign as guardians and trustees of the children.
To have an idea of what you own, your house or apartment, any bank accounts and anything else. Personal items can also be mentioned such as a piece of jewellery or pieces of furniture from your house. The preparing of such a list helps focus your mind on whom you wish to benefit from your will.