Business, Legal & Accounting Glossary
n. in a will, a gift which will take place only if a particular event has occurred by the time the maker of the will dies. Example: Ruth’s will provides that “Griselda will receive the nursery furniture if she has children at the time of my death.” This is slightly different from an executory bequest, which could provide for a gift to a beneficiary upon the happening of a specified event. Example of an executory bequest: a trust provides “Betty shall receive the house held in trust when she marries.
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Definitions for Conditional Bequest are sourced/syndicated and enhanced from:
This glossary post was last updated: 27th April, 2020 | 4 Views.