What form of Legacy is Right?
Residuary Legacy: by this route, you can leave Merchant Taylors' School the residue of your estate or a share of it: the School receives what is left when other bequests along with taxes and the costs of settling the estate have been paid. Suggested wording for Will.
Pecuniary Bequest: also known as a monetary gift. This is a simple legacy of a specified sum of money to a named beneficiary. Its value could be significantly eroded by inflation over time, so we do hope that if you choose this type of legacy, you review it periodically. Suggested wording for Will.
Reversionary Legacy: this enables you to leave a life interest in your estate to a dependent or other beneficiary during their lifetime, after which it would revert to Merchant Taylors' School.
Conditional Legacy: this addresses the possibility that if none of your named dependents survive you, your net estate will be left to the School.
Specific or non-monetary Legacy: a legacy need not be in the form of money. Specific gifts, such as property, valuables, or stocks, shares and other securities, can also be bequeathed to the School.
Suggested wording for your Will
A Residuary Gift
I give the whole (or a _______ share)* of the residue of my estate to the Merchant Taylors' School Charitable Fund of Sandy Lodge, Northwood, Middlesex, HA6 2HT, Charity Registration Number 1063740 for the [purpose of endowment of bursaries at / general purposes of] the School and I direct that the receipt of the Bursar or other duly authorised officer of Merchant Taylors' School shall be a sufficient discharge to my executors.
A Pecuniary Gift
I give the sum of £_________ (in figures and words) to the Merchant Taylors' School Charitable Fund of Sandy Lodge, Northwood, Middlesex, HA6 2HT, Charity Registration Number 1063740 for the [purpose of endowment of bursaries at / general purposes of] the School and I direct that the receipt of the Bursar or other duly authorised officer of Merchant Taylors' School shall be a sufficient discharge to my executors.
Adding to your existing Will
If you have already made a Will but would like to add a bequest to Merchant Taylors' School, you may wish to add a Codicil to your Will which is signed and witnessed in the same way as your original Will. An example of wording for this can be found here.
To download a legacy pledge form, please click here.
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