What is a Bequest?
A bequest is an instruction in your Will that indicates how you wish to distribute all or part of your estate. A bequest can be a gift of money or property, shares, artworks or any other form of property.
Types of Bequests
Some of the types of bequests you may wish to consider:
- General bequests are usually sums of money or percentages of the value of your estate made to a particular person or organisation, such as the National Portrait Gallery.
- Specific bequests are gifts of particular pieces of property.
- Residual bequests are the remainder of your estate after the general and specific bequests have been paid. For instance, you may leave bequests to your family and friends and state in your Will that the residual bequest (the residue of your estate) be made to an organisation.
- Works of art. It is advisable to contact the National Portrait Gallery curatorial department in the first instance. Read about portrait gifts for more information.
How to Make a Bequest
If you are considering a bequest, we strongly recommend that you seek legal advice when making your Will or changing the distribution of your estate in an existing Will.
You can notify us of your bequest intention by:
- writing a letter to the National Portrait Gallery advising of your intention to make a bequest;
- provide a copy of the relevant extract from your Will;
- provide a confirming letter from your solicitor.
If you would like to discuss your bequest options, please contact:
Telephone: 02 6102 7026