Types of legacies

We recommend that you draft your Will in consultation with a qualified solicitor. When considering a legacy gift in the UK, there are four main types of bequest, some of which may be more appropriate to your financial or personal circumstances:

• Pecuniary. This is a financial gift of money or shares.
• Specific. This is a gift of an item, such as a portrait or historical document. When considering a specific bequest, it is advisable to speak to the Society to make sure that the Society will be a suitable home for the object.
• Residuary. This is a gift of the whole or a percentage of the estate following the distribution of specific gifts and payment of any debts and expenses.
• Reversionary. This is a gift of an asset, such as a house or fund, that can be enjoyed by a chosen beneficiary during his or her lifetime before reverting to the Society.

In addition to these legal categories, you may wish to consider whether you would like to direct your bequest towards a specific project or if you will make an unrestricted gift. Unrestricted legacies are the most valuable kind of support, because they enable the Council of the Royal Society to put the money towards areas that they deem most urgent. In either case, we encourage that you contact us to discuss your plans, so that we are in the best position to carry out your wishes.