There are five main types of gift you can leave in your will, some may be more appropriate for you than others. For this reason we would encourage you to seek professional advice when making or amending a will.
Residuary gift: the whole or a percentage share of your estate which remains after settling debts, costs, and other specified gifts. The value of this type of gift is unaffected by inflation.
Pecuniary gift: a fixed sum of money. It may be worth considering that the value of this type of gift will decrease over time and the purpose for which you intended it may no longer be possible. However, the gift can be index-linked and your solicitor or professional advisor will be able to help you with this.
Specific gift: a specified bequest (such as individual items, appreciated assets, or shares) which might be used or sold to support the work of the University.
Reversionary gift: this gift is left to another beneficiary in the first instance and subsequently reverts to Aston (usually when the initial beneficiary has passed away). This is a common type of gift sometimes chosen to benefit partners, children or grandchildren for their lifetime and subsequently the University following their death(s).
Income Trust: a gift which benefits the University for a specific period of time.