A bequest is a gift of personal property, as opposed to real property, made in a will. Personal property is generally any movable item. It is also referred to as a legacy. There are different types of bequests that may be made in the terms of a will. Bequests may be "conditional" upon the happening or non-happening of an event, or "executory" in which the gift is contingent upon a possible or certain future event. Bequest can be of specific assets or of the "residue" (what is left after specific gifts, general gifts, and payment of debts have been made).
