Gift in Wills

A residuary gift is a type of legacy left in a Will. It refers to a percentage of the remainder of your estate after all other specific gifts, debts, taxes, and expenses have been paid. For example, if someone leaves 10% of their residuary estate to Simon Community, it means that after all other commitments are settled, 10% of whatever is left will be donated to the charity.

Residuary gifts are especially valuable because they tend to keep pace with inflation and can make a significant impact on the charity’s work – helping provide shelter, support, and advocacy for people experiencing homelessness.

A pecuniary gift is a specific amount of money left to a person or organisation in a Will. For example, if someone includes a pecuniary gift of £1,000 to Simon Community in their Will, it means the charity will receive exactly that amount, regardless of the overall value of the estate.

Pecuniary gifts are straightforward and fixed, which makes them easy to plan for. However, unlike residuary gifts, they don’t adjust with inflation or changes in the value of the estate over time.

Please request our ‘How to pay in a legacy’ helpsheet by emailing legacy@simoncommunity.org

Gifts left to registered charities like Simon Community are exempt from Inheritance Tax. That means the value of your charitable gift is deducted from your estate before tax is calculated.

If you leave 10% or more of your estate to charity, the Inheritance Tax rate on the rest of your estate may be reduced from 40% to 36% – potentially benefiting your other beneficiaries as well. To learn more, visit gov.uk/inheritance-tax or contact HMRC’s Inheritance Tax helpline on 0300 123 1072