Legal Definitions - bequest

A bequest is a gift of property that an individual leaves to another person or entity through their last will and testament. While traditionally referring to personal items like jewelry, artwork, or money, a will can also specify real estate (such as a house or land) as a bequest if the intent is clearly stated. These gifts can be specific assets, a particular sum of money, or even a share of what remains of an estate after other distributions have been made. Bequests can also be made conditional upon certain events occurring.

Here are some examples to illustrate the concept of a bequest:

• Example 1: Specific Personal Property

  An elderly woman, a passionate gardener, specifies in her will that her extensive collection of antique gardening tools and rare botanical books should be given to her granddaughter, who shares her love for horticulture. This is a bequest because it is a specific gift of personal property made through her will.

• Example 2: Conditional Bequest

  A wealthy entrepreneur includes a clause in their will stating that their nephew will receive a substantial sum of money, but only if the nephew successfully completes a master's degree in business administration by the age of 30. This is a bequest that is conditional, meaning the gift will only be transferred if a specific future event (earning the degree) occurs.

• Example 3: Residual Bequest

  After outlining specific gifts—such as leaving a vintage car to a friend and a specific amount of money to a local animal shelter—a person's will states that "all remaining assets, both real and personal, not otherwise disposed of" should be given to their spouse. This "remainder" is a bequest of the residual estate, covering everything left over after all other specific gifts and debts have been settled.