Bequest

Dictionary Definition

n. the gift of personal property under the terms of a will. Bequests are not always outright, but may be “conditional” upon the happening or non-happening of an event (such as marriage), or “executory” in which the gift is contingent upon a future event. Bequest can be of specific assets or of the “residue” (what is left after specific gifts have been made).

1. The act of bequeathing or leaving by will.
2. The transfer of property upon the owner’s death according to the will of the deceased.
3. That which is left by will; a legacy.
4. That which has been handed down or transmitted.
5. A person’s inheritance; an amount of property given by will.
6. To give as a bequest; bequeath.