Definition of legacies

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Legacies (pl. ) of Legac.

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Residue :: Residue (n.) That part of a testeator's estate wwhich is not disposed of in his will by particular and special legacies and devises, and which remains after payment of debts and legacies..
Legacies :: Legacies (pl. ) of Legac.
Abate :: Abate (v. t.) To diminish; to reduce. Legacies are liable to be abated entirely or in proportion, upon a deficiency of assets..
Assets :: Assets (n. pl.) Property of a deceased person, subject by law to the payment of his debts and legacies; -- called assets because sufficient to render the executor or administrator liable to the creditors and legatees, so far as such goods or estate may extend..
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