Bequeath

The term bequeath means to leave or transfer property, Assets, or personal possessions to someone else through a legally executed Last Will and Testament.

The bequeathed asset, known as a Bequest can encompass various types of property, including money, real estate, jewelry, artwork, personal belongings, and more.

The person making the bequest is often referred to as the Testator or Decedent, and the individuals or organizations receiving the bequests are known as Beneficiaries.

For example, a person might write in their will, "I bequeath my antique watch to my son, John, and my collection of books to my niece, Jane."

When a person creates a will, they can specify how their property should be distributed after their death.

The act of bequeathing an asset involves assigning it to specific Surviving Family members, Heirs or other beneficiaries who will receive the item once the deceased’s Estate has been Administered.

Bequests are an essential component of the Estate Planning process and are subject to the legal formalities of the state in which the will is executed.

The terms of the bequests outlined in the will must be followed during the Probate process, which is the legal process of validating a deceased person's will, paying their debts, and distributing remaining assets according to their wishes.

During probate, it's best to consult with an Estate Attorney or Probate Attorney to help navigate legal and governmental complexities.