Legacies fall into several types:
Residual Gifts - you can bequeath the residue from your estate after all other bequests, costs etc, have been deducted.
Pecuniary Gifts - you can leave a specific sum or item.
Percentage of estate - you can also specify a gift of a percentage of the value of your estate. For example, a bequest of 5 per cent of an estate valued at £20,000, would provide a gift of £1,000.
Company Pension - alternatively, if you belong to a company pension scheme, you can complete an 'expression of wish' form to benefit SMT and other charities. In the event of your death, the stated proportion of the life insurance benefit will be paid to your chosen charities. The 'expression of wish' form notifies the pension fund trustees of your wishes and it is simple to do with no legal complications. However, not all company pension schemes are set up to do this so you will need to check with your employer.
It is not expensive to make a Will and it is always best to go to a legal adviser and get reliable professional advice. You may well have a family solicitor or if not, a friend may be able to recommend one - or you can look under 'Solicitors' in the Yellow Pages. If you already have a Will, the simplest way to make relatively minor alterations or additions such as legacies is by making a Codicil. This is an instruction that is kept with your existing will and which your solicitor will help you draw up.
If you do decide to leave a legacy to the SMT in your will please advise us of your intent so we can keep you updated of any changes in our name or address.
click here to download our Legacy Notification formPlease note that Acrobat Reader version 5 or newer is required to open this file. This program can be downloaded free by clicking on the link below.
click here to download the free Acrobat pdf reader