What is the difference between a pecuniary and a residuary Will?
A pecuniary Will involves leaving a fixed sum of money. The value of this kind of Will decreases over time with inflation but can be index linked to avoid this. If you choose to leave a residuary Will to the RHS, the charity would receive the balance of your estate once all other beneficiaries and costs have been paid. It is the residue of your estate so does not affect any other legacies you may leave to friends or family. The residue is calculated only when all these legacies and any debts, taxes and expenses have been paid.
