Leaving a Legacy
Details of how to leave a legacy are listed below:
Pecuniary Bequest
A Pecuniary Bequest is the gift of a stated amount of money. It is advisable to revise these gifts from time to time as inflation will reduce their value. We suggest that you word such bequests to the SLA as follows:
"I give to Scottish Love in Action, St Ninian's Centre, 140 The Pleasance, Edinburgh, EH8 9RR (a) the sum of £……………. (in figures and words) or (b) …….% of the value of my estate, to be used for its general charitable purposes and I direct that the receipt of the treasurer or duly authorised officer shall be a valid and appropriate form of discharge."
Specific Bequest
A Specific Bequest is a gift of a specific item, such as jewellery or property. You will need to describe the item exactly and give the name and address of the Scottish Love in Action.
Residual Bequest
A Residual Bequest is the gift of all or a share of what remains of your estate after all other bequests, taxes and expenses have been made. We suggest that you word such bequests to Scottish Love in Action as follows:
"I give all (or a ……. per cent) of the residue of my estate to Scottish Love in Action, St Ninian's Centre, 140 The Pleasance, Edinburgh, EH8 9RR to be used for its general charitable purposes and I direct that the receipt of the treasurer or duly authorised officer shall be a valid and appropriate form of discharge."
What should you do next?
If you decide to employ a solicitor to draw up your will there are a few points to consider first.
Before visiting the solicitor it is a good idea to make a list of everything that you own and estimate their present value, eg house, savings, car, jewellery. It is also a good idea at this point to decide exactly how much you would like to leave to whom. And, of course, it's the perfect way to show you care about the children in Scottish Love in Action.
