​KembaraXtra – Legal Terms – Legacy


A legacy is a gift of personal property made through a will. It can take several forms depending on how the gift is described and structured, such as general, specific, demonstrative, pecuniary, or residuary legacies.


Each type has different legal consequences. For example, a specific legacy (like a particular painting) may fail if the item no longer exists at the testator’s death (ademption), while a general legacy (like a sum of money) is paid from the estate generally. A residuary legacy distributes what remains after all debts and other gifts have been satisfied, making it a crucial element in estate planning.