What is the difference between a devise and a bequest?
What is the difference between a devise and a bequest?
As wills are being drawn up and updated, people often ask what the difference between a "devise" and a "bequest" is. While these two similar-sounding terms have the same general effect on your final wishes, the wording and legal implications are slightly different.
When you set up a will, you have to decide what to do with your property when you die. If you want to leave money or other types of assets to other people, it's important to know the difference between a devise and a bequest. A devise is a gift that goes directly to a specific person, such as your children or grandchildren. A bequest is a gift that goes to an organization. For example, if you're leaving money to The World Wildlife Federation, they won't find out that they're getting that money from your will unless it's specified somewhere in the will. It's also possible for the same thing to be both a devise and a bequest.
The difference between a bequest and a devise is that a bequest is a gift of money or property. A devise is a gift of land, objects, or securities.
A bequest is a gift of property or money. If you leave your estate to someone in your will, it means that you are providing for a specific individual or organization by leaving them any property and/or money that you own; this is called a bequest. A devise is a gift of property; but it is not part of your will. It is the same thing as a bequest, except that it is not specified in your will. The difference between the two terms is that a devise happens in the future after your death, while a bequest happens at the time when you die.
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Disclaimer: This is not legal advice and is simply an answer to a question and that if legal advice is sought to contact a licensed attorney in the appropriate jurisdiction.
