An indefinite legacy refers to a bequest in a will that does not specify the exact items or quantities being transferred. Instead, it uses broad terms like "all" or "every" to encompass a range of assets. For instance, a testator may leave an indefinite legacy of "all my personal belongings," which includes everything owned without detailing each item.
Indefinite legacies are commonly used in estate planning to simplify the distribution of assets. By using general terms, testators can provide flexibility in how their estate is handled after their death. This term is relevant in areas of law such as:
Users can manage their estate planning needs by utilizing legal templates from US Legal Forms, which can help draft wills that include indefinite legacies.
Here are a couple of examples of abatement:
Example 1: A person may state in their will, "I leave my entire collection of art to my niece." This is an indefinite legacy as it does not specify which artworks are included.
Example 2: A testator might say, "I bequeath all my stocks and bonds to my children." This also qualifies as an indefinite legacy because it does not list each stock or bond individually.
Examples of state differences (not exhaustive):
| State | Key Differences |
|---|---|
| California | Allows for indefinite legacies but may require additional documentation for clarity. |
| New York | Indefinite legacies are recognized, but specific language must be used to avoid ambiguity. |
| Texas | Indefinite legacies are valid, but the will must be properly executed to be enforceable. |
This is not a complete list. State laws vary, and users should consult local rules for specific guidance.
| Term | Definition | Key Differences |
|---|---|---|
| Specific Legacy | A bequest that identifies specific items or amounts. | Indefinite legacies use broad terms, while specific legacies detail exact items. |
| General Legacy | A bequest of a specific amount of money or a class of property. | General legacies may specify a type of asset, unlike indefinite legacies. |
If you are considering including an indefinite legacy in your will, it's important to:
Complex situations may require professional legal assistance to navigate effectively.
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An indefinite legacy is a bequest that does not specify exact items or quantities in a will.