Specific Bequest Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Specific Bequest, written in plain English, along with examples of how it is used.
What is Specific Bequest?
(n) A specific Bequest is the gifting of any particular article to any person by specifically nominating him to receives such article by a will. For example a will directing to give the car he used to the youngest daughter Anna
History and Meaning of Specific Bequest
A specific bequest is a legal term used in estate planning that refers to giving a specific item, such as a piece of property or a sum of money, to a particular individual or organization named in a will. This means that the specific bequest supersedes any other provisions in the will and must be carried out exactly as stated.
This method of gifting items has a long history dating back to ancient Roman law. However, the current concept of specific bequest in modern estate planning and inheritance law was developed during the medieval period.
Examples of Specific Bequest
- "I bequeath my antique diamond ring to my granddaughter, Jane."
- "I give all my shares in Apple Inc. to the orphanage."
- "I leave $5,000 from my bank account to my brother, Jack."
- "I bequeath all my real property located in Miami to my dear friend, Michael."
- "I give my collection of rare coins to the Smithsonian Institute."
Legal Terms Similar to Specific Bequest
- General Bequest: This type of bequest gives a particular sum of money or assets to a named individual without designating a specific item.
- Demonstrative Bequest: This type of bequest refers to giving a specific sum of money, but the amount is to be paid from a specific source, such as a particular investment account.
- Residuary Bequest: This type of bequest is for any leftover assets or property that wasn't previously assigned in the will.