The term bequest refers to the personal property, Assets, or other belongings that a person leaves to a another individual, group, or organization after their death.
It's a way for someone to designate who will receive specific items from their Estate after they pass away. Typically the distribution of their property goes to Surviving Family members, Heirs, or other Beneficiaries.
Bequests can encompass a wide range of items, including money, real estate, jewelry, artworks, vehicles, and personal belongings.
For example, if someone's will states, "I bequeath my vintage guitar to my nephew, John," it means that the vintage guitar is being specifically gifted to John upon the person's death.
Bequests are legally binding instructions included in a will, and they are subject to the laws and regulations of the state where the deceased passed.
During the Probate process, the terms of the bequests are carried out, and the designated beneficiaries receive the items or assets specified in the will.