Pecuniary Legacy Interest Calculator 2026
Instantly calculate the statutory interest accrued on unpaid pecuniary legacies. A free UK probate tool for executors and beneficiaries to determine executor’s year interest payouts.
Legacy Interest Projection
Enter the legacy details to calculate statutory interest accrued
The fixed cash sum left to the beneficiary in the will.
The number of months the payment has been delayed since the end of the executor’s year.
The annual interest rate (typically 4% for general legacies, 6% for minor children).
Your Legacy Interest Estimate
Statutory interest and total payout breakdown
Enter your legacy details above and click Calculate Interest to reveal your probate interest projection.
Statutory Interest Benchmarks
Quickly reference the standard statutory interest rates applied to pecuniary legacies in the UK, depending on the beneficiary type and the will’s provisions.
| Legacy Type | Statutory Rate | Example Scenario |
|---|---|---|
| General Pecuniary Legacy | 4% per annum | £10,000 left to a friend or sibling |
| Legacy to a Minor Child | 6% per annum | £10,000 left in trust for a child under 18 |
| Will-Specified Rate | Varies | The will explicitly states “interest at 5%” |
| Residuary Legacy | No Interest | Beneficiaries receive the remainder of the estate |
Pecuniary Legacy Interest FAQ
Everything you need to know about calculating statutory interest on legacies, understanding the executor’s year, and navigating UK probate law.
A pecuniary legacy is a fixed sum of money left to a specific beneficiary in a will. Unlike a residuary legacy (which is a percentage or the remainder of the estate), a pecuniary legacy is an exact cash amount, such as ‘£10,000 to my nephew’.
In the UK, executors have 12 months from the date of death to administer the estate and pay out legacies. This period is known as the ‘executor’s year.’ If a pecuniary legacy is not paid by the end of this 12-month period, it automatically begins to accrue statutory interest from the date the payment was due.
The standard statutory interest rate for general pecuniary legacies is 4% per annum. However, if the legacy is left to a minor child (under 18) and is held in trust for their maintenance or education, the statutory rate increases to 6% per annum. The testator can also specify a different rate in the will itself.
The interest is paid out of the residuary estate. This means that the beneficiaries who are receiving the remainder of the estate (the residuary beneficiaries) will effectively bear the cost of the delayed payment, as the estate’s funds are used to pay the interest.
Yes, the person making the will (the testator) can include a specific clause dictating a different interest rate for late payment of legacies. If a specific rate is written into the will, it overrides the standard statutory rates of 4% or 6%.
Yes, the interest accrued on a delayed pecuniary legacy is generally treated as income for the beneficiary. It may be subject to Income Tax depending on the beneficiary’s total taxable income for the year, and the estate may need to deduct tax at the basic rate before paying the net interest to the beneficiary.