Legal background to trusts and estates: the three forms of specific bequests
There are three forms of specific bequests.
The gift is a definite thing that is clearly identified. It may, for example, be ‘my horse Ringmaster’.
The legacy is not confined to one particular thing. It is often money, although ‘the £100 in a tin box under my bed’ would be a specific legacy.
The legacy specifically refers to the source from which it is to be paid. This could be ‘£500 from my building society account’.
The executors need to know the type of bequest to carry out their duties properly.