Legacy FAQs

When should I make a Will?

Solicitors recommend that a will is made or updated following major life events, for example marriage, re-marriage, children, divorce, separation, a significant change in personal finances, or if one of the beneficiaries of your will dies. It is also a good idea to have your will reviewed every five years whether there has been a significant change in your circumstances. This will make sure that any changes in the law are also reflected in your will. Keeping your will up to date will make sure your wishes are carried out as you intended.

What if I don’t make a Will?

Many people wrongly believe that their property and money pass automatically to their next-of-kin but this is not the case. If you die without making a Will, you will have died intestate and the general laws of intestacy will apply to your estate.

The effect of this could be, for example:

  • Your spouse only receiving part of the estate
  • Your blood relatives (eg parents or siblings) could benefit at the expense of friends and in-laws
  • If you live with someone, they could be completely excluded from the estate

Is it difficult to make a Will?

Most Wills are easy to make. You would need to see a solicitor and discuss your wishes. It can help to have thought this through beforehand. We have developed a form you can print off to help this process. Click here to download the form

Is there special wording for making a bequest?

Yes. The law is very strict, so the correct wording can be very important. If you are kind enough to leave a gift to Birmingham St Mary’s Hospice, please use the following:

‘Birmingham St Mary’s Hospice, 176 Raddlebarn Road, Selly Park, Birmingham B29 7DA. Registered Charity No. 503456’ and declare that the money is to be used for general charitable purposes.

What kind of legacy can I leave?

There are three main type of legacy that are left in wills:

  1. Specific            A specific legacy is an item you leave to a named person or charity. It could be anything from a house to a painting to a piece of jewellery
  2. Pecuniary         A pecuniary legacy is either a set sum of money or a set percentage of the value of your estate. (The latter is a more inflation-proof way of leaving a gift)
  3. Residuary         A residuary legacy is leaving all, or a share, of what it left of your estate, after any specific or pecuniary legacies have been made. It can be made to one or more beneficiaries.

Legacies

Legacies and Wills can seem confusing, but it is easy to find people to help you get what you want from your Will

 

 

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