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Suggested Wording For your Will the Vice-Chancellor Forward fromor Codicil Here are some brief guidance notes on the types of bequest along with some suggested legal wording for each. We strongly recommend that you seek professional advice from a qualiﬁed legal or ﬁnancial practitioner before completing the process. Residuary bequest Reversionary bequest Pecuniary bequest A gift of all or a percentage or A gift of assets to a chosen A gift of a ﬁxed sum of money. share of your estate after allowing beneﬁciary subject to the rights of a The disadvantage of a ﬁxed sum of for expenses, pecuniary and named person or persons to money is that because of inﬂation speciﬁc bequests. The advantage receive the beneﬁt of those assets the value of the gift may reduce of a residuary bequest is that during his or her lifetime. over time, which may require the it maintains its real value in relative For example, it could enable you to Will to be updated at a later date. terms, regardless of inﬂation. leave your residuary estate to an organisation such as the University, Wording Wording but on condition that a spouse or "I give to The University of "I give to The University of friend could continue to receive the Nottingham the sum of (in ﬁgures Nottingham all (or a percentage income of that part of your estate and in words) free from all taxes or share) of my residuary estate to (or to continue to live in your house) and duties, to be applied to the be applied to the general purposes until he or she died. The capital general purposes (or your preferred (or your preferred area) of the would then pass to the University area) of the said University and I said University and I declare that the on the death of that person. declare that the receipt of the receipt of the Registrar or other Registrar or other authorised ofﬁcer authorised ofﬁcer for the time being Wording for the time being of the University of the University shall be good and The wording above should be shall be good and sufﬁcient sufﬁcient discharge to my adapted to suit your particular discharge to my Executors." Executors." needs and wishes. Thank you for considering including The University of Nottingham in your Will.
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