Types of legacy
There are different ways in which you can leave Children 1st a gift in your will:
Leaving a share of your estate is known as a residuary gift. Your estate refers to everything you owned, including money in your bank account, investments and physical belongings like property.
With a residuary gift after all other bequests, taxes and debts have been paid, you leave the remainder of your estate or ‘residue’ to Children 1st.
If you specify a fixed sum of money to leave, this is known as a pecuniary gift. Every gift, large or small, is so appreciated.