Legal Definitions - general bequest

A general bequest is a gift made in a will that specifies a certain quantity, value, or proportion of property or money, but does not identify a particular, unique asset. Instead, this type of gift is paid out of the general pool of assets belonging to the deceased person's estate.

Unlike a gift of a specific item (like a particular piece of jewelry or a named bank account), a general bequest can be satisfied using any available funds or property from the estate that fits the description. The executor of the will has the flexibility to choose which assets to use to fulfill the gift, as long as the specified value or quantity is met.

Here are some examples to illustrate a general bequest:

• Example 1: Monetary Gift

  A will states, "I give the sum of $50,000 to my friend, Michael Chen."

  This is a general bequest because it specifies a dollar amount that can be paid from any cash or liquid assets available in the estate. It doesn't require the executor to use money from a specific bank account or investment fund; they simply need to ensure $50,000 is transferred to Michael from the estate's overall resources.

• Example 2: Shares of Stock

  A will includes the provision, "I leave 200 shares of any common stock I own at the time of my death to my nephew, Liam."

  This is a general bequest because it specifies a quantity (200 shares) from a general category (common stock) rather than identifying shares of a particular company (e.g., "my shares of XYZ Corp.") or specific stock certificates. The executor can select any 200 shares of common stock from the deceased's portfolio to fulfill this gift.

• Example 3: Percentage of Remaining Estate

  A will declares, "I give 25% of the residue of my estate to the Local Animal Shelter."

  This is a general bequest because it grants a proportion (25%) of the estate's remaining value after all debts, taxes, and specific gifts have been distributed. It does not point to a particular asset but rather a share of the overall wealth left in the estate, which can be satisfied from any remaining general assets.