A gift in a will to a person or organisation - there are different types including:
A residuary gift is the share of your estate left over once your family and friends have been taken care of. This type of gift is easy to add to an existing will without interfering with any specific sums you may have left to your family or friends. It also has the advantage that it will not be eroded in value by inflation over the years.
A pecuniary gift is a specified amount of money or monies-worth (i.e. shares) left to St Mungo's. With this type of gift it is important to remember that the value of money changes over the years, and you may need to alter your will periodically to keep up with inflation. You may wish to link the gift to the Retail Price Index which will maintain its real value and prevent it from being eroded by inflation.
A reversionary gift allows you to leave your estate to your dependents while they are living, but after they pass away it will revert to St Mungo's.
A specific gift is a particular item left to St Mungo's, which can be sold to support our work. For example, it could be a house, car, piece of jewellery or an antique item.