This is a gift left in a Last will and testament to either a person or organization. There are
four types of bequests.
Residuary bequest - after all other gifts and debts are cleared. The
remainder can be left in total or in part to a Beneficiary.
Pecuniary bequest - this is a fixed sum of money.
Specific bequest - is a named item left as a gift in the will. E.g. clock,
painting and jewellery etc.
Contigent bequest - is a gift which is dependent on an occurrence or event.
E.g. £50,000 from the estate to my son for every child he has fathered before
I die.
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