Specific Devise in a Will

Posted on November 24, 2010

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There are several ways to leave monies to your friends or relatives in a will or trust. One is by identifying various items (Specific Devise). The Specific Devise and its Tangible Property List  is a given piece of property such as “I leave Mark my acoustic guitar” or “I want Wanda to have my Roth IRA holdings”
 
Another is indicating how much money you want to leave (General Devise) and another involves dividing up the amount in say, three ways between your wife and your two sons for instance.
 
The Residual Devise is whoever gets the remainder of the properties or monies after the other Devises have been given out.
 
See Axsmith Law for more details.
 
 

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