What is the legal term for a gift of money made by a will?

What is the legal term for a gift of money made by a will?

• A. Legacy
• B. Bequest
• C. Gift
• D. Donation

Answer: (A)

The legal term for a gift of money made by a will is "bequest." A bequest specifically refers to a portion of a deceased person’s estate that is given to a beneficiary through the terms of their will. This term generally encompasses both monetary gifts and gifts of personal property. In contrast, "legacy" traditionally refers to a specific type of bequest, often used to describe a gift of personal property rather than money. While some might informally use the terms interchangeably, in legal contexts, "bequest" is the more precise term for what is described in the question. The other terms, "gift" and "donation," are broader and more general. A "gift" can refer to any form of transfer of property or funds between living persons and is not limited to scenarios involving wills. "Donation" typically implies a charitable contribution rather than a specified gift made through a will. Thus, "bequest" is the most appropriate and legally accurate term to describe a gift of money specifically allocated by a will.

The legal term for a gift of money made by a will is "bequest." A bequest specifically refers to a portion of a deceased person’s estate that is given to a beneficiary through the terms of their will. This term generally encompasses both monetary gifts and gifts of personal property.

In contrast, "legacy" traditionally refers to a specific type of bequest, often used to describe a gift of personal property rather than money. While some might informally use the terms interchangeably, in legal contexts, "bequest" is the more precise term for what is described in the question.

The other terms, "gift" and "donation," are broader and more general. A "gift" can refer to any form of transfer of property or funds between living persons and is not limited to scenarios involving wills. "Donation" typically implies a charitable contribution rather than a specified gift made through a will.

Thus, "bequest" is the most appropriate and legally accurate term to describe a gift of money specifically allocated by a will.