What is the difference between "general bequests" and "specific bequests"?

The distinction between general bequests and specific bequests plays a crucial role in the administration of an estate. General bequests are gifts of a specified amount of money or a general category of property that can be paid out of the general estate assets. These bequests do not point to a specific piece of property; instead, they are fulfilled from whatever funds are available in the estate. For example, if a will states that a beneficiary will receive $10,000 from the estate, this is a general bequest.

On the other hand, specific bequests are tied to particular items or assets. These bequests identify unique, individual pieces of property that are to be given to a beneficiary. An example of a specific bequest would be a particular piece of jewelry or a classic car mentioned explicitly in the will.

Understanding this distinction is essential for correctly interpreting testamentary documents and ensuring that the desires of the testator are honored during the distribution of the estate. Specific bequests have priority over general bequests in terms of asset allocation, making this knowledge vital for estate planning and administration.