What is the Difference Between a Specific vs. General Gift?
In a typical will, there are two types of gifts: specific gifts and general gifts. Specific gifts, which leave a particular object to someone, are optional – but they are the first gifts that are bestowed from a will. For example, a specific gift might read: “I leave to my daughter Maria my engagement ring.” You can also choose to forgive a specific debt that someone owes you. A general gift leaves a percentage of all that remains after the specific gifts are made. The residual heir or heirs (residue being what is left after the specific gifts) usually receive the bulk of the estate after the smaller gifts and valuables are distributed. Usually, the residual heirs are the will maker’s spouse or closest relatives. Each will must have at least one residual heir.
