What is a bequest in a Will?

A bequest is a gift made in your Will, usually to a person or charitable organisation, which is received after your death from your estate.

Types of Bequests

There are different types of bequests that can be made in a Will.  Some of these include:

• Pecuniary bequests – a pecuniary bequest is a gift of a fixed sum of money.
• Specific bequests – a specific bequest is a gift of a particular item of property, for example, jewellery or artwork.
• Residuary bequests – a residuary bequest is a gift of all or a percentage or part of whatever is left in your estate after payment of all of the debts of the estate and any specific or pecuniary bequests have been made.

There are other types of bequests that can be included in your Will. If you would like to know more about bequests or your estate planning in general, please do not hesitate to contact us.