Legatee
A person who receives a gift of personal property (such as money, jewelry, or stocks) through a will. The gift itself is called a legacy or bequest.
Legal Definition
A person designated in a will to receive a legacy, historically referring to a gift of personal property (as distinguished from a devisee, who receives real property), though the distinction is often abolished by modern statutes.
Practical Example
In his will, Paul names his niece as the legatee of his coin collection and $50,000 in cash. His nephew is named as legatee of his stock portfolio.