Demonstrative Legacy example?

Prepare for the CILEx F4 Property and Private Client Test. Utilize flashcards and multiple choice questions, complete with hints and detailed explanations. Ace your exam with thorough preparation!

Multiple Choice

Demonstrative Legacy example?

Explanation:
Demonstrative legacy is a bequest of a definite, identifiable asset rather than a pure sum of money. The Chesterfield leather sofa fits this perfectly because it is a clearly named, tangible item that can be identified and transferred to the beneficiary. The other options illustrate cash bequests or bequests tied to a particular source, which are different forms of legacies and do not exemplify naming a specific asset in the way a demonstrative legacy does.

Demonstrative legacy is a bequest of a definite, identifiable asset rather than a pure sum of money. The Chesterfield leather sofa fits this perfectly because it is a clearly named, tangible item that can be identified and transferred to the beneficiary. The other options illustrate cash bequests or bequests tied to a particular source, which are different forms of legacies and do not exemplify naming a specific asset in the way a demonstrative legacy does.

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