specific devise

n. the gift in a will of a certain piece of real estate to a certain person or persons. Example: "I leave the Lazy Z Ranch to my brother, David." (See: will, devise)

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A bequest of "all my clothing, jewelry, household goods, personal effects, automobile and all other tangible personal property not otherwise specifically devised herein or pursuant to the written statement or list ..." to decedent's son was a specific devise by decedent removing the property from spouse's claim of exempt property.

Exempt property under the Florida Probate Code: 2009 Amendments to F.S. [section]732.402 and statutory exemptions

In order to accomplish the desired result under the assumed facts of this article the decedent's will in this instance would have to provide a specific devise similar to the following: I devise 501 shares of my XYZ Corporation, common stock, to my wife, Mary Roe.

It must be recognized that the reason that the above technique works so well is because what is involved is a specific devise of the 501 shares.

TRA 97 is not the only reason to review existing estate plans involving closely held stock

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