Which term refers to a gift of property payable from any asset in the testator's estate?

Which term refers to a gift of property payable from any asset in the testator's estate?

• A. Demonstrative bequest
• B. General bequest
• C. Residuary bequest
• D. Lapse of a bequest

Answer: (B)

This tests how gifts are funded from the estate. A general bequest is a gift of money or property that is payable from the estate’s general assets, meaning it can be satisfied from any asset in the estate rather than from a specific source. Demonstrative bequests, by contrast, specify a particular fund or account as the source, with any shortfall payable from general assets. A residuary bequest takes whatever remains of the estate after debts and all specific bequests have been paid. Lapse of a bequest occurs when the beneficiary dies before the testator, causing that gift to fail unless there are anti-lapse provisions. So the term that fits a gift payable from any asset in the estate is a general bequest.

This tests how gifts are funded from the estate. A general bequest is a gift of money or property that is payable from the estate’s general assets, meaning it can be satisfied from any asset in the estate rather than from a specific source. Demonstrative bequests, by contrast, specify a particular fund or account as the source, with any shortfall payable from general assets. A residuary bequest takes whatever remains of the estate after debts and all specific bequests have been paid. Lapse of a bequest occurs when the beneficiary dies before the testator, causing that gift to fail unless there are anti-lapse provisions. So the term that fits a gift payable from any asset in the estate is a general bequest.