When making your will, you may come across some of the following words. Here is what they all mean.

Assets: all of your possessions, including property, car, furniture, jewellery, shares, etc.

Beneficiary: a person or organisation benefiting from a will.

Codicil: a document containing changes or additions to an existing will.

Estate: everything you own at the time of your death.

Executors: those you have appointed to handle your affairs according to your will.

Legacy: a gift left in wills, also known as a bequest.

Liabilities: everything you owe, including your mortgage, loans and credit cards, etc.

Pecuniary legacy: a specific amount of money that you wish to leave.

Probate: the legal procedure to establish that a will is valid and genuine.

Residuary legacy: the remainder of your estate after all other gifts have been made. The major advantage of a residuary legacy is that its value should increase with inflation.

For more information about leaving a gift to Muscular Dystrophy UK in your will, please contact us on 020 7803 4834 or legacy@musculardystrophyuk.org

If there is something you treasure which you want to pass on to someone special, the best of ensuring this happens is by including your wishes in your will.

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