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i don't think it has a detrimental effect on your chances of admission
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Simple English definitions for legal terms
legacy
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A quick definition of legacy:
Legacy is a gift that someone leaves in their will. It's usually something personal, like a special object or a part of their estate. Sometimes, it's a general gift that can come from any of their assets. A legacy can also be paid from a specific fund. It's different from a gift of real property, which is called a devise. But sometimes people use these words interchangeably. Legacy is also called a bequest.
A more thorough explanation:
Legacy is a gift of personal property that someone leaves in their will after they die. It's important to note that a legacy is not a priority over the debts that the person who died may have owed. There are different types of legacies:
- Specific legacy: This is when the gift is a specific object or part of the estate of the person who died. For example, a specific legacy could be a piece of jewelry or a painting.
- General legacy: This is when the gift can come from any of the assets of the person who died. For example, a general legacy could be a sum of money.
- Demonstrative legacy: This is a general legacy that will be paid from a specific fund from the person who died. For example, a demonstrative legacy could be a sum of money that will be paid from the sale of a specific property.
It's important to note that a legacy is different from a devise, which is a gift of real property through a will. However, the terms legacy and devise can sometimes be used interchangeably depending on the context and the intent of the person who made the will.
For example, if someone leaves a specific legacy of their car to their niece in their will, the niece will receive the car after the person dies. If someone leaves a general legacy of $10,000 to their favorite charity, the charity will receive the money from any of the assets of the person who died. If someone leaves a demonstrative legacy of $5,000 to their grandchild from the sale of their vacation home, the grandchild will receive the money from the sale of the vacation home.