A bequest refers to a gift or inheritance that is specifically designated in a will. It is a provision in the will where the testator (the person creating the will) specifies the distribution of certain assets or property to a particular individual or organisation.
In simple terms, a bequest is a way for the testator to express their wishes regarding who should receive certain items or assets after their death. It can involve various types of property, such as money, real estate, personal belongings, or even specific rights or privileges.
Bequests can be made to family members, friends, charitable organisations, or any other person or entity that the testator wishes to benefit from their estate. The specific details of the bequest, including the identity of the recipient and the nature of the gift, should be clearly stated in the will.
By including bequests in their will, individuals can ensure that their assets are distributed according to their intentions and that their loved ones or chosen beneficiaries receive specific items or inheritances as outlined in the document.