Return to the Forbidden PlanetOctober 26, 2022
WillsDecember 31, 2020
There are various types of legacies.
The examples below are suggestive of ways in which you might wish to give.
This is the simplest form of legacy, though the value of such a bequest remains
static and therefore erodes with inflation. If you write a codicil for a pecuniary
legacy which names Llandovery College Foundation as a beneficiary, you
might want to consider leaving a percentage of your estate rather than a fixed
The residue of your estate is the amount remaining once all the pecuniary
legacies, debts and other charges have been paid. You might decide to leave
the whole, or part of the residue, to the Llandovery College Foundation.
The advantage of this form of legacy is that its value is not eroded by inflation.
A reversionary legacy can benefit both your family and friends, and the school
at a later date. Under this arrangement, certain assets can be left to a chosen
beneficiary for their lifetime, after which a part or all of them revert to the
Llandovery College Foundation.
Legacies need not simply involve money. Gifts such as works of art, property,
or stocks and shares may also be left to the Llandovery College Foundation.
A conditional legacy allows for circumstances in which named dependents die
before you. Your estate would then be left to the Llandovery College
Foundation and to any other named beneficiaries.
The advice herein is only a general introduction. Please do ensure that you
receive legal advice to ensure that your wishes are stated clearly in the terms
of your Will.