Bequest

Dictionary Says

Definition of 'Bequest'


The act of giving personal property or money such as stocks, bonds, jewelry and cash left to an individual or organization through the provisions of a will or estate plan. Bequests can be made to family, friends, institutions or charities. When real estate is left through a will, it is correctly called a "devise."

Investopedia Says

Investopedia explains 'Bequest'


If estate taxes are a concern, individuals may opt to bequest assets to heirs indirectly through a gift in trust. Charitable gifts after death can also reduce estate taxes. When a bequest is left to a charity, it may be called a legacy gift. Such bequests can be important sources of fundraising for nonprofit organizations. When the bequest is intended for a specific purpose, it is called an endowment. Bequests to charity can be made directly, or indirectly through charitable trusts.

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