Precatory Memorandum Law and Legal Definition

A precatory memorandum is is a document that may or may not be specifically identified or referenced in a will and is an expression of wishes made by a testator or settlor as to how executors or trustees might exercise their discretionary powers given in a will. A precatory memorandum is usually not considered legally binding unless it is reference in the will. It is also known as a Memorandum of Wishes.