A bequest is best described as what?

Study for the Cannon Trust School Level I Exam. Learn with flashcards and multiple-choice questions, each with detailed hints and explanations. Prepare confidently for your exam and gain certification!

Multiple Choice

A bequest is best described as what?

Explanation:
A bequest is a gift left to someone in a will to be received after the person's death. It’s the posthumous transfer of property or money, specified by the testator to a named beneficiary (the legatee or devisee). This is different from gifts given during life, which happen inter vivos, and from a loan, which would be repayable. Probate is the legal process that validates the will and ensures the bequests are distributed as written, but the bequest itself is the gift described in the will. Bequests can be specific (one item), general (a fixed sum), or residuary (the remainder of the estate after other gifts).

A bequest is a gift left to someone in a will to be received after the person's death. It’s the posthumous transfer of property or money, specified by the testator to a named beneficiary (the legatee or devisee). This is different from gifts given during life, which happen inter vivos, and from a loan, which would be repayable. Probate is the legal process that validates the will and ensures the bequests are distributed as written, but the bequest itself is the gift described in the will. Bequests can be specific (one item), general (a fixed sum), or residuary (the remainder of the estate after other gifts).

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