A legatee is an individual or entity designated to receive a specific gift or bequest under a will or testamentary document. Legatees are typically named beneficiaries who inherit personal property, assets, or specific items of value from the deceased testator’s estate according to the terms outlined in the will. Legatees may include family members, friends, charitable organisations, or other individuals or entities chosen by the testator to receive a portion of their estate. The role of the legatee is to accept the gift or bequest as stipulated in the will and to comply with any legal requirements or conditions associated with the inheritance. Legatees have legal rights and interests in the estate and may be entitled to enforce their claims through probate proceedings or other legal means if necessary.
Someone to whom a legacy is bequeathed. The recipient of a legacy.
n. a person or organisation receiving a gift of an object or money under the terms of the will of a person who has died. Although technically a legatee does not receive real property (a devisee), “legatee” is often used to designate a person who takes anything pursuant (according) to the terms of a will. The best generic term is beneficiary, which avoids the old-fashioned distinctions between legatees taking legacies (personal property) and devisees taking devises (real property), terms which date from the Middle Ages. legal One who receives a legacy.
A legatee is an individual or entity designated to receive a gift or legacy under a will.
A legatee receives a specific gift or bequest outlined in a will, whereas an heir is someone who inherits from an estate when there is no will or when the will does not dispose of all assets.
A legatee can inherit various types of assets, including money, real estate, personal property, stocks, bonds, and other investments.
To become a legatee, an individual or entity must be named as such in the testator’s will. The testator must have the legal capacity to make a will and must comply with the formalities required by law to create a valid will.
A legatee can be removed from a will by the testator through the execution of a new will or a codicil (an amendment to the existing will). However, once the testator passes away, it is generally too late to change the will, and the legatee’s rights become legally enforceable.
If a legatee predeceases the testator, their gift may lapse, depending on the provisions of the will and applicable state law. Some wills include substitute or alternate legatees to receive the gift if the primary legatee cannot.
Legatees are entitled to receive their gifts once the probate process is completed, and the estate’s assets are distributed according to the terms of the will. This process can take several months to years, depending on various factors.
Yes, a legatee can refuse a bequest or gift, known as disclaiming or renouncing the gift. The refusal must be made in writing and typically within a specified timeframe after the testator’s death.
In general, legatees are not responsible for paying inheritance taxes on their gifts. Estate taxes, if applicable, are typically paid by the estate before distribution to the legatees. However, individual circumstances and tax laws may vary, so it’s advisable to consult with a tax professional.
It is often advisable for legatees to seek legal advice, especially if they have concerns about the administration of the estate, their rights under the will, or if there are disputes among beneficiaries. An attorney can provide guidance and representation to ensure their interests are protected throughout the probate process.
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: 29th March 2024.
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