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What is a Legacy?

A legacy is simply a gift made under a Will. It comes into effect only after your lifetime. You can change the Will at any time during your life to reflect your changing priorities.

There are 3 types of legacy:

Pecuniary - a sum of money

Specific - property, shares, jewellery, works of art or other items

Residual - the balance of your estate in whole or part after satisfying other legacies and expenses

 

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