Bequest
A gift of personal property made through a will. 'Bequest' and 'legacy' are used interchangeably. A specific bequest identifies a particular item; a general bequest is a gift of a certain amount of money from the estate.
Legal Definition
A testamentary gift of personal property, classified as specific (a particular item), general (a specified dollar amount from estate assets), demonstrative (payable from a particular fund), or residuary (the remainder of the estate).
Practical Example
Mary's will contains several bequests: her diamond ring to her daughter (specific bequest), $25,000 to her alma mater (general bequest), and the remainder of her estate to her children equally (residuary bequest).