Legal Definitions - universal legacy

A universal legacy refers to a gift made in a will where a person inherits the entirety of the deceased's estate, or a specific fractional share of the entire estate, rather than particular, individually named assets. The recipient, known as the universal legatee, essentially steps into the shoes of the deceased regarding the overall estate, taking responsibility for its debts and obligations up to the value of the inheritance. This type of legacy grants the legatee a claim to all assets remaining after any specific gifts and debts are settled.

• Example 1: An elderly woman, having no close relatives, leaves a will stating, "I give, devise, and bequeath all of my property, both real and personal, wherever situated, to my dear friend, Ms. Eleanor Vance."

  Explanation: Ms. Vance is a universal legatee because she is inheriting the entirety of the woman's estate, encompassing all assets without specific itemization. She will receive everything that remains after any debts or taxes are paid.

• Example 2: A man's will states, "I give, devise, and bequeath one-half (1/2) of my entire estate to my sister, Sarah, and the remaining one-half (1/2) to my brother, David."

  Explanation: Both Sarah and David are universal legatees. Each receives a fractional share (one-half) of the man's entire estate, not specific items. They share the responsibility for the estate's overall obligations proportionally based on their inherited share.

• Example 3: A will specifies, "I give my antique watch to my nephew, John, and my collection of rare books to my niece, Maria. All the rest, residue, and remainder of my estate, I give to my long-time caregiver, Mr. Robert Chen."

  Explanation: Mr. Chen is a universal legatee because he receives the "rest, residue, and remainder" of the estate. This means he inherits everything that is left after the specific gifts (the watch and books) and any debts are paid, effectively receiving the bulk or fractional entirety of the remaining estate.