specific bequest

specific bequest

n. the gift in a will of a certain article to a certain person or persons. Example: "I give my diamond engagement ring to my niece, Sophie." (See: will, bequest)

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A specific bequest of an item of tangible personal property should provide sufficient description to clearly distinguish the item from other similar items that are owned or may be acquired by the decedent.
Top 10 Tips to Avoid Family Fights over Heirlooms from Top Estate Planning Attorney
to pay for the back surgery of the decedent's nurse; the decedent's funeral and estate administration expenses, debts, nursing services before the decedent died, a specific bequest under the decedent's will; and estate taxes of approximately $3 million).
FLP litigation: have Strangi and Bongard provided clarification, guidance on FLPs?
Buchelt engaged Attorney James Pouros to modify the trust to make a specific bequest, and eliminate existing bequests to her sisters.
Hospitals battle over which is beneficiary of a trust
The first question is important in the sense that it may tell us to exercise cautions on drawing hard conclusions from any specific bequest motive.
BEQUEST MOTIVES, SOCIAL SECURITY, AND ECONOMIC GROWTH
Wills that were written by the testators themselves or spoken in the presence of other persons, show specific bequest patterns compared to wills written by other persons (Tables 2 and 3).
DEATH AND THE TRANSFER OF WEALTH: BEQUEST PATTERNS AND CULTURAL CHANGE IN THE EIGHTEENTH CENTURY
Her fellow neighbour David Smith, 81, will miss out on a specific bequest because he retired to the village less than 20 years ago - but was delighted by other donations to village life.
Margaret was a kindly, wonderful and charming lady who always thought of other people. This generosity is totally in character; Widow leaves more than pounds 400,000 to villagers who took her to their hearts
The daughter received a specific bequest of a fee simple interest in her mother's property under the mother's will;
Be careful making disclaimers where trusts are involved
Scenario 1: Gross estate value $5,000,000 Marital deduction, specific bequest 2,500,000) Taxable estate 2,500,000 Federal estate tax 1,025,860 Available unified credit (192,800) Net Federal estate tax $ 833,000
Remarried with children: estate tax considerations of a significantly younger spouse
34] A specific bequest of IRD items to a spouse will cause IRD items to be excluded from both the gross estate and the marital deduction in the Sec.
Income in respect of a decedent: minimizing the double taxation
While qualified heirs were the sole beneficiaries of the marital trust's remainder interest, a charity was granted a specific bequest from the residuary trust's remainder.
Significant recent developments in estate planning
distributions that satisfy a specific bequest of property or a cash legacy payable in not more than three installments (Sec.
Income tax planning and elections for a deceased individual client
The executor can fund - a specific bequest, or - a residuary or fractional bequest with the right to receive future payments of IRD without triggering income to the estate.
Income tax planning for trust and estate distributions

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