What are the 2 types of legacy?

Another type of legacy is a demonstrative legacy, which is similar to a specific legacy but involves assets that are easily identifiable and can be pointed out, such as bank accounts or jewelry. This ensures that the beneficiary receives the exact asset intended.

Various types of legacies exist to cater to different wishes and requirements in will-making.

A pecuniary legacy is one where a specific amount of money is designated to be given to a beneficiary. This type of legacy allows for precise financial planning and ensures that a certain sum is allocated to the intended recipient.

On the other hand, a specific legacy involves leaving a particular asset to a beneficiary. This can include tangible items like property, valuable works of art, or financial instruments such as shares. This type of legacy allows for the direct transfer of specific assets.

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