When It Comes to Wills: Understanding ‘Devise’ and ‘Bequeath’
Creating a last testament involves many intricate details. A thorough understanding of the terms and concepts is essential for effective estate planning. Among these terms, ‘devise’ and ‘bequeath’ are frequently used, but they have distinct meanings when it comes to distributing your assets:
What is a Devise?
In legal parlance, to ‘devise’ means to leave real estate to someone through a will. Unlike other property, real estate has a unique standing in a will. Here’s an example to give you clarity:
Example: In his will, Abel devises his beloved family home to his daughter, Maria. The word ‘devise’ specifically dictates the transfer of real property, bound by state laws and subject to certain conditions.
The Concept of Bequeathing
On the other hand, ‘bequeath’ is typically used to leave personal property, which encompasses anything that isn’t real estate. It can include items like money, vehicles, jewelry, or any other possessions. Here’s how bequeathing works:
Example: Abel bequeaths his prized vintage automobile to his son, John. This tells the Executor of the Will that John is to receive this particular personal property.
Key Differences and Similarities
While both devise and bequeath relate to the act of leaving possessions to heirs, their application differs based on the type of property, highlighting the subtle nuances in estate planning.
Frequently Asked Questions (FAQs)
Q: Does the term ‘devise’ apply to personal property as well?
A: No, it specifically refers to real estate. Personal property would be ‘bequeathed’ instead.
Q: Can the same property be both devised and bequeathed in a will?
A: No, because the terms apply to different types of property. Real estate must be devised, while personal property is bequeathed.
Q: What happens if there is no mention of real estate in a will?
A: If real estate is not mentioned, state laws usually govern how property is distributed, which often results in an intestacy proceeding.
Q: Is it possible to change what’s devised in a will?
A: Yes, through a codicil or by drafting a new will, terms can be altered anytime before death.
In conclusion, understanding the terms ‘devise’ and ‘bequeath’ is crucial for effective estate planning. By properly utilizing these terms, you’ll ensure your property is distributed according to your wishes after you pass away.
Related Terms: bequeath, inherit, legacy, last testament, real estate transfer.
