To ensure the most suitable approach for your circumstances, we recommend seeking professional advice regarding the four common forms of legacy.
1. Pecuniary Legacy: This involves leaving a specific amount of money to the Charity. It’s important to note that over time, inflation can erode the value of the bequest. To address this, one option is to allocate a fixed proportion of your estate to your beneficiaries.
2. Residuary Legacy: By donating a percentage or fraction of the residue of your estate after specific bequests have been fulfilled, you can safeguard the real value of your gift. We kindly suggest considering a bequest of one or two percent of your estate.
3. Life Interest (Reversionary Legacy): We understand the importance of providing for your loved ones. A Reversionary Legacy allows you to leave money or a percentage of your estate to the Charity after the passing of your spouse or relative. This arrangement enables your beneficiaries to enjoy your assets during their lifetime, with the designated portion reverting to the Sussex Heart Charity thereafter.
4. Conditional Legacy: If you believe that someone else has a stronger claim to a part of your Estate, yet still wish to leave a gift to the Charity, you can make a Conditional Legacy. This means allocating your bequest to a specific individual, with the provision that if they predecease you, the bequest will then pass to the Charity. Your gift can take various forms, such as shares, paintings, or other items of property.
Remember, it’s essential to consult a professional to determine the most suitable option for you.