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There are five different types of legacy

Pecuniary legacy

A gift of a fixed amount of money. In order to leave a pecuniary bequest you must state the exact figure in your will.

Specific bequest

This is when you leave someone a specific item of property. You should ensure that this item is adequately described in your will to avoid any confusion.

Residuary bequest

A legacy of the remainder of your Estate after all bequests have been made and all debts, taxes and expenses paid.

Conditional bequest

Should a beneficiary of your will die before you, this allows for the bequest to revert to a second beneficiary instead.

Reversionary bequest

In this case a bequest of property or the whole or the portion of a Residuary Estate, is made to a person for their benefit during their lifetime. After their death the property passes on to another person or organisation as named in your will.

Your solicitor will help to ensure that making a will is as simple as possible but it is inevitable that you will encounter some legal terms that are unfamiliar to you. Below is a brief explanation of some of the ones that you are most likely to come across;

Administrators

The people appointed to deal with your Estate according to the law if you don't leave a will

Beneficiary

An individual or organisation who is to receive something from your will

Codicil

A separate document that makes a change or addition to an existing will

Crown or Treasury

If you leave no will and have no relatives, all your possessions or property may pass to the pool of taxation which makes up a large part of government income

Estate

The total of your possessions which you leave when you die

Executor

The person you appoint to administer your affairs according to your will

Intestacy

When a person dies without leaving a valid will

Legacy

A gift of money or possessions specified in a will

Probate

The procedure by which it is formally established that a will has been left and the Executors are given the power to carry out your wishes

Residue

What is left of an Estate after all debts, tax, costs, pecuniary and specific legacies have been paid

Testator

The person making the will, ie you

Trustee

The word for an executor who has to look after any part of your Estate that you leave under a continuing trust

Since Scottish Law varies in many ways to the law in England, Wales and Northern Ireland, it is important that you seek the advice of a Scottish Solicitor who will be aware of the requirements of the Scottish legal system.