Types of devises

Question 1

Types of devises

Answer 1

1. Specific
2. Demonstrative
3. General
4. Residuary

Question 2

Specific devises

Answer 2

Names Specific Person AND Specific Property

E.g. pen that signed the Magna Carta

If missing/lost – you get nothing

Question 3

Demonstrative devises

Answer 3

Names Person AND Thing OR “another object of equal value”

E.g. pen that signed Magna Carta OR equivalent value

If missing/lost – you still get something

Question 4

General devises

Answer 4

Names Specific Person AND Specific Amount (NOT the thing)

E.g. $10K from Account A

IF Account A has only $5K, still get full amt.

Question 5

Residuary devises

Answer 5

Names Specific Person AND “Everything left in my estate, not assigned to a beneficiary”