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LSDefine
Simple English definitions for legal terms
demonstrative bequest
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A quick definition of demonstrative bequest:
A demonstrative bequest is when someone leaves something specific in their will, like money from a certain bank account or stocks from a certain company. It's different from a general bequest, which is just a gift of money or something else without any specific source. It's also different from a specific bequest, which is when someone leaves a particular item, like a piece of furniture or a house.A more thorough explanation:
A demonstrative bequest is a type of bequest in a will that specifies that a certain gift or amount of money must be paid out of a specific source, such as a stock fund. This means that the gift or amount of money is not taken from the general assets of the estate, but from a specific source that the testator has designated.
- A testator leaves $10,000 to their niece, to be paid out of their investment account.
- A testator leaves their antique car to their son, to be paid out of the proceeds from the sale of their vacation home.
In both of these examples, the testator has specified that the gift or bequest must be paid out of a specific source, rather than from the general assets of the estate. This ensures that the designated source is used to fulfill the bequest, and that other beneficiaries are not affected by the gift.