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Glossary > L > "Legacy" Definition

Legacy

Another term for bequest, that is, the making of a gift by will. In the main there are three main types of legacy.Pecuniary legacy: A gift of a fixed sum of money left for example to an individual or a charity.Specific legacy: A gift of a specific item (such as a set of books) left for example to a friend.Residuary legacy: A gift consisting of the residue of an estate after all other conditions of the will have been met, or part of such residue.

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Legacy - Another term for bequest, that is, the making of a gift by will. In the main there are three main types of legacy.Pecuniary legacy: A gift of a fixed sum of money left for example to an individual or a charity.Specific legacy: A gift of a specific item (such as a set of books) left for example to a friend.Residuary legacy: A gift consisting of the residue of an estate after all other conditions of the will have been met, or part of such residue.

Legacy : another term for bequest, that is, the making of a gift by will. in the main there are three main types of legacy.pecuniary legacy: a gift of a fixed sum of money left for example to an individual or a charity.specific legacy: a gift of a specific item (such as a set of books) left for example to a friend.residuary legacy: a gift consisting of the residue of an estate after all other conditions of the will have been met, or part of such residue.