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What is a pecuniary legacy?

April 26, 2017legacy pecuniary

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What is a pecuniary legacy?

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A pecuniary legacy is a gift in your Will of a fixed sum on money. The value of pecuniary legacies could decrease over time, as the cost of living increases. For example, if a 60 year old person made a Will in 1982 and included a pecuniary legacy of £23,644 (the average price in 1982) it would not be enough to buy a house if that person died 25 years later (when the average house price was £194,362).