Legacies are an important source of funding for the charity.
There are three ways in which you can leave a gift to MJCC:
A residuary legacy is the gift of the remainder of your estate (or a percentage of the remainder) after all other gifts to friends and family have been distributed and all outgoings have been dealt with. If you leave your whole estate as a gift, this is also known as a residuary legacy. A residuary legacy is generally of the greatest benefit to MJCC as its value increases in line with inflation.
A pecuniary legacy is a fixed sum of money. It is worth noting that pecuniary legacies tend to decrease in value over time due to rises in inflation and need to be reviewed in order to maintain their original intended value. However, it is possible to index link a pecuniary legacy to ensure that the legacy maintains its intended value.
A specific legacy is a particular item of value that is left to the charity. Examples of this are stocks and shares, proceeds of a life insurance policy, property, furniture or jewellery.