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Simple English definitions for legal terms
monetary bequest
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A quick definition of monetary bequest:
A monetary bequest is when someone leaves money to someone else in their will. It's like giving a gift of money after you die. There are different types of bequests, like giving specific things or giving money from a certain source. Sometimes people give money to charities in their wills too.A more thorough explanation:
A monetary bequest, also known as a pecuniary bequest, is a type of testamentary gift in which the testator leaves a specific amount of money to a beneficiary in their will. This type of bequest is usually made when the testator wants to ensure that a certain amount of money goes to a particular person or organization.
For example, a testator may leave $10,000 to their favorite charity as a monetary bequest. This means that the charity will receive $10,000 from the testator's estate after their death.
Another example of a monetary bequest is when a testator leaves a specific amount of money to a family member or friend. For instance, a testator may leave $5,000 to their niece as a monetary bequest.
These examples illustrate how a monetary bequest is a specific type of bequest that involves leaving a certain amount of money to a beneficiary. It is important to note that a monetary bequest is different from a specific bequest, which involves leaving a particular item of property to a beneficiary.