Bequest

A bequest, or specific bequest, is a financial and legal term. It is a set of instructions regarding a specific asset. The instructions describe exactly who should receive that asset. For example, if you would like your guitar to end up with your best friend you can make a bequest regarding this specific asset.

Specific bequests may include tangible personal property and digital assets. Additionally, you can sometimes donate to charities through specific bequests. Bequests usually take place before the distribution of any other assets, but after the executor has paid any debts.