Definition§
A legatee is the recipient of personal property or assets awarded through a will upon the decedent’s death. The legatee can be an individual, a group of individuals, or an organization. The personal property given through a will is known as a legacy. A legatee distinguishes from an heir, who takes property by intestate succession (without a will).
Examples§
- Family Member Legatee: John writes a will bequeathing his classic car collection to his son, Michael. Upon John’s death, Michael becomes the legatee of the car collection.
- Charity as Legatee: Susan’s will stipulates that a portion of her estate be donated to a local animal shelter. Upon her passing, the animal shelter is the legatee receiving the legacy.
- Multiple Legatees: A wealthy individual leaves portions of their jewelry collection to several nieces and nephews. Each niece and nephew becomes a legatee of the designated items.
Frequently Asked Questions§
What is the difference between a legatee and an heir?§
An heir inherits property from an estate when there is no will, following intestate succession laws. A legatee receives property through a will.
Can a minor be a legatee?§
Yes, minors can be legatees, but the property or assets are typically managed by a guardian or trustee until the minor reaches the age of majority.
Can a legatee refuse a bequest?§
Yes, a legatee has the right to refuse a bequest. This is known as a disclaimer of interest, where the legatee formally declines to inherit the given property.
Does a legatee pay taxes on inherited assets?§
Tax regulations vary by jurisdiction, but generally, a legatee may be subject to inheritance taxes, depending on the value of the legacy and the applicable laws.
Related Terms§
- Devisee: A person who inherits real property (real estate) through a will.
- Testator/Testatrix: The person who creates a will; testator refers to males, while testatrix refers to females.
- Intestate: Refers to the condition of having died without leaving a legally valid will.
- Probate: The judicial process by which a will is proven valid or invalid. The court oversees the administration of the decedent’s estate.
Online Resources§
References§
- “Black’s Law Dictionary” by Bryan A. Garner
- “Wills, Trusts, and Estates” by Jesse Dukeminier and Robert H. Sitkoff
- “The Complete Guide to Planning Your Estate in Texas” – as a state-specific example
Suggested Books for Further Studies§
- “Estate Planning Basics” by Denis Clifford
- “Wills Trusts & Estates” by Robert H. Sitkoff, Jesse Dukeminier
- “Basic Wills, Trusts, and Estates for Paralegals” by Jeffrey A. Helewitz
- “Plan Your Estate” by Denis Clifford
