A gift made in a will is called a legacy. The main types of gifts you can leave in your will are:
- Residuary - This is a gift made up of what is left of your money and property after all other costs and gifts to friends and family have been made. With a residuary bequest, you can take care of loved ones first and leave all or part of what is left over to a charity.
- Pecuniary - This is a gift of a fixed sum of money and can be big or small.
- Specific - This is a gift of a particular item in your will, such as a piece of jewellery, furniture or painting.