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Simple English definitions for legal terms
pecuniary legacy
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A quick definition of pecuniary legacy:
Term: PECUNIARY LEGACY
Definition: A pecuniary legacy is a gift of money or personal property that is given to someone through a will. It can be given without any conditions or requirements, or it can be dependent on certain events happening. There are different types of pecuniary legacies, such as absolute, conditional, and contingent legacies. A pecuniary legacy can also be cumulative or additional, meaning that it is given in addition to another legacy.
A more thorough explanation:
A pecuniary legacy is a gift of money or personal property made in a will. It is a type of legacy, which is a gift made in a will.
- An example of a pecuniary legacy is when a person leaves $10,000 to their niece in their will.
- Another example is when a person leaves their car to their best friend in their will.
These examples illustrate how a pecuniary legacy is a specific type of gift made in a will. It is a gift of money or personal property, and it is made with the intention of passing on the testator's assets to their chosen beneficiaries.