This is a simply legacy of a specified sum of money to a named beneficiary.
The residue of your estate is the value remaining after all pecuniary legacies, debts, and other charges have been met. The advantage of a residuary legacy is that its value will not be eroded by inflation.
A reversionary legacy is a valuable way of both providing for family or friends and benefiting SSCGAS. It involves leaving assets to a chosen beneficiary to use during his/her lifetime, with the whole or a portion reverting to SSCGAS on his/her death.
A legacy need not be in the form of money. Specific gifts in the form of stocks and shares, works of art, and other valuables also can be bequeathed to SSCGAS.
A conditional legacy addresses the possibility that you may survive all your named dependents. It would ensure that, in this event, your estate would be left to SSCGAS and to any other beneficiaries you may name.
Including SSCGAS as a beneficiary in your life insurance policy is a strategic way to create a lasting charitable legacy while potentially benefiting from tax advantages in your estate planning.