What Is a Pecuniary Gift in a Will
A pecuniary gift is a specific sum of money given to an individual through a will or trust. It is also sometimes referred to as a ‘pecuniary legacy. The amount of the gift is usually determined at the time that the will or trust is created or modified. Pecuniary gifts are paid out of the estate first before other gifts, such as specific bequests and residuary gifts. A specific legacy is when an individual leaves a particular item or set amount of money. At the same time, a residuary gift refers to the remainder of an estate being given to a designated recipient.