A general legacy is a type of legacy that is paid out of the estate's general assets rather than from a specific asset. Which option is the correct type?

A general legacy is a type of legacy that is paid out of the estate's general assets rather than from a specific asset. Which option is the correct type?

• A. Specific
• B. General
• C. Demonstrative
• D. Residual

Answer: (B)

Legacies are classified by how they’re funded from the estate. A general legacy is a fixed sum payable out of the estate’s general assets, not tied to a specific item. That means the bequest isn’t linked to a particular asset like a ring or property; it comes from the estate’s cash or general funds. If the estate has enough money, it’s paid from those general assets; if funds are tight, general legacies may be reduced along with other general bequests according to abatement rules. This differs from a specific legacy, which is tied to a particular asset, a demonstrative legacy, which is a sum payable from a named source but may fall back to general assets, and a residuary legacy, which is what remains after all debts and other bequests are satisfied. Given the description—paid from the estate’s general assets rather than a specific asset—the correct type is a general legacy.

Legacies are classified by how they’re funded from the estate. A general legacy is a fixed sum payable out of the estate’s general assets, not tied to a specific item. That means the bequest isn’t linked to a particular asset like a ring or property; it comes from the estate’s cash or general funds. If the estate has enough money, it’s paid from those general assets; if funds are tight, general legacies may be reduced along with other general bequests according to abatement rules. This differs from a specific legacy, which is tied to a particular asset, a demonstrative legacy, which is a sum payable from a named source but may fall back to general assets, and a residuary legacy, which is what remains after all debts and other bequests are satisfied. Given the description—paid from the estate’s general assets rather than a specific asset—the correct type is a general legacy.