Bequest

A bequest is a provision in a will that specifies the transfer of personal property or assets to a designated beneficiary upon the death of the testator (the individual who made the will). Bequests can include tangible items, such as jewelry, art, or a specific sum of money, as well as intangible assets like stocks or other financial instruments.

Bequests are typically classified into two categories: specific bequests and general bequests.

Specific bequests refer to particular items or amounts of money that the testator designates to a specific individual or organization. For example, a will might state, "I bequeath my vintage car to my nephew, John."

General bequests, on the other hand, refer to a portion of the testator’s estate that is not tied to specific items. For instance, a testator might indicate, "I bequeath $10,000 to my favorite charity."

In the context of probate, the bequest is honored after the testator’s death, during the process of distributing the estate. The executor of the will is responsible for ensuring that bequests are carried out according to the wishes outlined in the document.

It is important to note that if the assets specified in a bequest are no longer available at the time of the testator’s death, or if the beneficiary predeceases the testator without a provision for alternative beneficiaries, the bequest may fail. In some jurisdictions, including Texas, the laws surrounding bequests and the distribution of estates can vary, so it’s advisable for individuals to consult with legal professionals to ensure their intentions are clearly articulated and legally binding.