What is a pecuniary legacy?

What is a pecuniary legacy?

• A. A monetary gift of money
• B. A specific item
• C. The remainder of the estate
• D. A residuary gift

Answer: (A)

A pecuniary legacy is a monetary gift—the fixed sum of money left to a beneficiary in a will. It isn’t tied to any particular item or asset. This distinguishes it from a specific legacy, which relates to a named item (like a house or a piece of art), and from a residuary legacy, which covers the remaining part of the estate after debts and other gifts have been paid. In practice, a pecuniary legacy is paid out of the testator’s estate and can be reduced if the estate is not enough to satisfy all legacies (abated pro rata). For example, a gift of £50,000 to a beneficiary is a pecuniary legacy.

A pecuniary legacy is a monetary gift—the fixed sum of money left to a beneficiary in a will. It isn’t tied to any particular item or asset. This distinguishes it from a specific legacy, which relates to a named item (like a house or a piece of art), and from a residuary legacy, which covers the remaining part of the estate after debts and other gifts have been paid. In practice, a pecuniary legacy is paid out of the testator’s estate and can be reduced if the estate is not enough to satisfy all legacies (abated pro rata). For example, a gift of £50,000 to a beneficiary is a pecuniary legacy.