Gift of personal property through a will by the writer of the will (the 'testator') to an individual or organization(the 'legatee'). Legacies are generally classified as (1) Demonstrative: paid out of specific funds, or portioned out of a specific property. (2) General: not clearly identified, such as, "a house." (3) Pecuniary: specified sum of money or an annuity. (4) Residuary: what is ... Read more

USAGE EXAMPLE

When my grandmother passed away, she left me a legacy in her will, including some of her money and her summer house.