How to give a gift in your Will
Always seek legal advice
We recommend that you always use a legal professional when making or updating a Will. They have the expertise to ensure that the wording clearly expresses your wishes and that it is legally valid. Before your appointment it can be very useful to make two lists. One of these should be of your assets, things like property, shares and objects of value, and one of people and causes you wish to leave something to.
Types of gift
A PECUNIARY GIFT
This is the gift of a specified sum of money. It is worth noting that because of inflation the eventual value of this type of gift can be affected significantly over time.
A RESIDUARY GIFT
This is where you set aside a portion or all of your remaining estate, known as the residue (what is left over after the payment of debts, funeral expenses and the costs of the administration, and after all the specific and other gifts in the Will have been paid) for, or to be divided between named beneficiaries such as your relations or a charity.
If you decide to remember Prisoners' Education Trust in your Will, you may find it helpful to take this wording with you to your appointment with your professional advisor. They can then use it to incorporate your specific legal instructions into your Will.
General Legacy to PET:
“I give the sum of £_________(or specify percentage of estate) to Prisoners' Education Trust (registered charity number 1084718) for its general purposes and I declare that the receipt of the honorary treasurer or other proper officer of the said Prisoners' Education Trust for the time being shall be a full and sufficient discharge for the said legacy.”