Because everyone’s circumstances are different, we recommend you seek professional advice about which type of legacy to gift to the University of Leeds.
Types of legacy
Pecuniary
If you’d like to give a specific sum of money, choose a pecuniary legacy. Because inflation can erode its value over time, it’s good practice to review your will regularly. Better yet, specify a percentage of your estate rather than a fixed sum, or index-link your legacy.
Residuary
You can give the remainder of your estate (or a percentage of the remainder) after all pecuniary legacies, debts and other expenses have been paid. This is a residuary legacy and its main advantage is that inflation does not erode its value.
Reversionary
Your family or friends can be provided for while also benefiting the University when you gift a reversionary legacy. You’ll leave assets to a chosen beneficiary to enjoy during their lifetime, with the whole, or a proportion, passing to the University at their death.
Conditional
When you choose a conditional legacy, you would name the University as a beneficiary should any, or all of, your other named beneficiaries die before you.
Specific or non-monetary
You can bequeath specific assets such as property, valuables, works of art or stocks and shares. The University may sell non-financial gifts and use the proceeds in keeping with your wishes.
Pension funds and life insurance policies
You can nominate the University of Leeds as a whole or joint beneficiary of a pension fund or life insurance policy. If you’re thinking about supporting the University in this way, we recommend that you seek professional advice.
More help with leaving a legacy to Leeds
See our suggested wording for pecuniary and residuary legacies for general purposes.
If you’d like suggested wording for a legacy for a specific purpose, email Sally Hind at s.hind@leeds.ac.uk, or phone Sally on +44 (0)113 343 0239.