LEGACIES -  A gift in your will

Legacy pledges in your will to the Surrey County Agricultural Society will help the Society feel more secure about planning long term projects and help us to continue our work in the future. 

Types of Legacy  There are a few different kinds of gift you can leave in your Will, the most common described here:

Residuary bequest:  A gift of the remainder of the estate after all other bequests have been made and debts cleared is called a residuary bequest;

Pecuniary bequest:  A gift of a fixed sum of money in your Will is called a pecuniary bequest.  The value of pecuniary legacies will decrease over time, as the cost of living increases;

Specific bequest:  A particular named item left as a gift in your Will is known as a specific bequest – for example a piece of jewellery, or premium bonds;

Contingent bequest:  A gift in your Will that dpends upon the occurrence of an event which may or may not happen is known legally as a contingent bequest.  An example is a bequest to a charity which applies only if other beneficiaries named in the Will die before the testator (person who made the Will).

How to leave us a legacy

Create or update your Will

Examples of wording:

Residuary bequest (a proportion)

I give (%) of the residue of my real and personal estate, after payment of my funeral and testamentary expenses and debts which I can dispose of by Will in any manner I think proper to the Surrey County Agricultural Society, Registered Charity no: 293515, of 8 Birtley Courtyard, Bramley, Surrey GU5 OLA for its general charitable purposes absolutely (and I direct that the shares given by this clause shall be such shares as before the deduction of any Inheritance Tax and other fiscal impositions attributable to them) and the receipt of the Chairman or the proper officer for the time being of the Surrey County Agricultural Society shall be a complete discharge to my Executors.

Pecuniary bequest (a set sum) or Specific bequest

I give the sum of .........  pounds, free of Inheritance Tax to the Surrey County Agricultural Society, Registered Charity no: 293515, of 8 Birtley Courtyard, Bramley, Surrey GU5 OLA, for its general charitable purposes and the receipt of the Chairman or the proper officer for the time being of the Surrey County Agricultural Society shall be a complete discharge to my Executors.  (For advice for suggested wording for index-linked pecuniary gifts, please speak to your solicitor.)

Specific gift

I give to the Surrey County Agricultural society of 8 Birtley Courtyard, Bramley, Surrey GU5 OLA, Registered Charity no: 293515, for its general charitable purposes absolutely, freeof Inheritance Tax and other fiscal impositions and costs, transfer my (description of item) and I direct that receipt of the Chairman for the time being or other duly authorised officer shall be sufficient discharge to my (Executors/Trustees).

Contingent bequest

Please speak to your solicitor for suggested wording.

It is important to ensure that the following clause is inserted, whichever wording you need to use:

If at my death any charity named as a beneficiary in this Will or any Codicil hereto has changed its name or amalgamated with or transferred its assets to another body then my Executors shall give effect to any gift made to such charity as if it had been made (in the first case) to the body in its changed name or (in the second place) to the body which results from such amalgamation or to which such transfer has been made.

Please remember to use our full name The Surrey County Agricultural Society and current address: 8 Birtley Courtyard, Bramley, Surrey GU5 OLA and charity number:  No: 293515.