General Legacy example?

General Legacy example?

• A. A car
• B. Chesterfield leather sofa
• C. £1,000 from Fontwell Bank account
• D. £10,000

Answer: (A)

A general legacy is a gift of a fixed sum of money payable out of the estate’s general assets, not tied to any specific asset. In the options, a car and a Chesterfield sofa are specific legacies (bequests of particular items). The £1,000 from Fontwell Bank account is a demonstrative legacy (a sum payable from a specific asset or fund). The only choice that represents a general legacy is the £10,000, since it’s a monetary amount to be paid from the general assets of the estate without referencing a particular item or fund.

A general legacy is a gift of a fixed sum of money payable out of the estate’s general assets, not tied to any specific asset. In the options, a car and a Chesterfield sofa are specific legacies (bequests of particular items). The £1,000 from Fontwell Bank account is a demonstrative legacy (a sum payable from a specific asset or fund). The only choice that represents a general legacy is the £10,000, since it’s a monetary amount to be paid from the general assets of the estate without referencing a particular item or fund.