Pecuniary Legacy

A pecuniary legacy is a gift of a stated amount of money — such as $10,000 — to a named beneficiary under a Will. It is a type of legacy and is paid out of the general assets of the estate, unlike a specific gift tied to a particular item. Pecuniary legacies rank ahead of the residue.

If the estate's cash is insufficient after debts are paid, pecuniary legacies may abate (reduce proportionally). Example: "I give a pecuniary legacy of $15,000 to each of my godchildren." Where there are several money gifts, the executor ensures debts and expenses are met first, then pays the legacies before distributing the residuary estate.