Define: Legacy

Legacy
Legacy
Quick Summary of Legacy

A legacy, in legal terms, refers to a gift of personal property or money made through a will or testamentary document. It is a bequest left by a testator to a specific individual or entity. Legacies can include various types of personal property, such as jewellery, artwork, vehicles, or cash. The recipient of a legacy is known as a legatee. Legacies are an important aspect of estate planning and are often used to provide for loved ones or support charitable causes after the testator’s death.

What is the dictionary definition of Legacy?
Dictionary Definition of Legacy

(law) a gift of personal property by will

A disposition of money or personal property by will. n. a gift of personal property or money to a beneficiary (legatee) of a will. While technically legacy does not include real property (which is a “devise”), legacy usually refers to any gift from the estate of one who has died. It is synonymous with the word “bequest.

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This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.

This glossary post was last updated: 29th March, 2024.

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