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Click on the first letter of the word from the list above to go to the
appropriate section of the glossary.
-B-
Basic Will: A will that distributes everything to your spouse, if living, otherwise to your children when they reach the age of majority, which is 18 years old.
Beneficiary: A person who receives income or assets from a trust; someone who benefits from the existence of a trust.
Bequest: Property given as a gift under the terms of a will. In Texas, the term “bequest” generally connotes a gift of personal property in contrast to a “devise” which is a gift of land.
