A demonstrative devise refers to a situation where an individual bequeaths a specific sum of money or property to another person in their will, but the payment is contingent upon a particular source. In the event that the designated source lacks sufficient funds, the payment can be made from the overall assets of the person’s estate. Essentially, it is a way of expressing the intention to provide the recipient with the specified amount, even if it needs to be sourced from alternative funds.
A demonstrative devise is a type of gift specified in a will that typically involves a specific amount of money or a particular piece of property. It is primarily funded from a designated source, but if the designated property is insufficient, it may be funded from the general assets of the estate. For instance, if a person’s will states, “I bequeath $10,000 to my niece, Jane, from the proceeds of selling my car,” this would be considered a demonstrative devise. The gift is primarily funded from the sale of the car, but if the car does not sell for enough money, the gift may be funded from the estate’s general assets. This type of gift differs from a pecuniary devise, which is a demonstrative devise consisting solely of money. In essence, a demonstrative devise allows a person to give a specific gift to someone, with the understanding that the gift may need to be funded from the estate’s general assets if the designated source is insufficient. This type of gift is beneficial when a person wishes to give a specific gift but is uncertain if there will be enough funds or property to cover it. The provided example illustrates how a person can leave a specific amount of money to someone, contingent upon the sale of a specific item (in this case, a car) generating enough funds to fulfil the gift. If the sale falls short, the gift can still be funded from the estate’s general assets.
A demonstrative devise is a legal term referring to a specific type of gift in a will or trust that involves the transfer of a particular item or property to a beneficiary.
Unlike general or specific devises, which involve the transfer of a certain amount of money or a specific item, a demonstrative devise involves the transfer of a specific amount of money or property from a particular source.
Yes, like any other provision in a will or trust, a demonstrative devise can be challenged or contested if there are valid grounds, such as undue influence, lack of capacity, or fraud.
Yes, a testator or settlor can change or revoke a demonstrative devise by executing a new will or trust document that specifically addresses the desired changes.
If the source of the demonstrative devise is no longer available, the gift may fail or be reduced. In such cases, the remaining assets of the estate or trust may be used to fulfill the gift to the extent possible.
Yes, a demonstrative devise can be made to a charity or organisation, specifying a particular amount or property to be transferred to them.
Yes, a demonstrative devise can be made to multiple beneficiaries, specifying the amount or property each beneficiary is entitled to receive.
Yes, a demonstrative devise can be made conditional, meaning that the beneficiary must fulfill certain requirements or conditions before they can receive the gift.
Generally, a demonstrative devise cannot be challenged solely based on fairness or equity. However, if there are valid legal grounds, such as undue influence or fraud, the devise may be subject to challenge.
In most cases, a demonstrative devise cannot be modified after the testator’s or settlor’s death unless there are exceptional circumstances and all interested parties agree to the modification.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 17th April 2024.
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