Pecuniary Bequest

Pecuniary Bequest

A gift of money in a will, as opposed to some other asset. For example, if a man's will gives his son $100,000 cash, rather than ownership of his home, the man has made a pecuniary bequest.
References in periodicals archive ?
When a trust or estate uses those amounts to satisfy a pecuniary bequest, the distribution of IRD items is considered a sale or exchange requiring the trust or estate to recognize income.
A bypass trust, grandchild trust, or other trust may be structured as a pecuniary bequest.
The chapter presents such new terminology as class gift, exercisable power, sprinkle, spray, testamentary power, and pecuniary bequest.
This would typically apply after the grantor's death when property is distributed from a revocable trust to a beneficiary to fund a pecuniary bequest.
Funding a pecuniary bequest with appreciated or IRD assets will cause capital gain or ordinary income to be recognized by the family trust at the date of funding.
The Act provides that gain must be recognized when property is distributed to satisfy a pecuniary bequest from estates of individuals dying after 2009.
A disposition of an LLC interest by gift, bequest, or inheritance (although the distribution of property from an estate to satisfy a pecuniary bequest is considered an exchange);
The will included a $10 million pecuniary bequest to H, Inc.
If a pecuniary bequest is not entitled to income or to share in appreciation or depreciation and the governing instrument does not provide that it is to be paid or credited in more than three installments, the pecuniary bequest is to be treated as a separate share.
These rules do not apply to gains or losses realized in satisfaction of a pecuniary bequest.