What constitutes a general legacy gift?

A general legacy gift refers to a gift consisting of a specific dollar amount that is to be paid from the general assets of an estate rather than from a specific property or asset. When a testator provides for a sum of money to be distributed to a beneficiary, it signifies that the amount is intended to come from the estate as a whole, not tied to any particular item or property.

This characteristic distinguishes it from other types of bequests. For example, when a specific item (like a car or a piece of jewelry) is bequeathed to an heir, it is identified as a specific gift rather than a general legacy. Similarly, a percentage of the estate divided among heirs acknowledges a proportional distribution rather than a fixed monetary sum, which contrasts with the definition of a general legacy. An item left in trust for a beneficiary pertains to a trust arrangement and does not fit the definition of a legacy since it involves managing the asset for the benefit of another rather than a straightforward monetary transfer. Therefore, the option that describes a general legacy gift aligns perfectly with the definition of a specific sum of money gifted from the estate.