statutory legacy

noun

  • Decedents Estates Law/ Estate and Trusts Law

Definitions of statutory legacy

  • the amount of money that by law must go to the spouse (=husband or wife) of a person who dies without leaving a will (=details of what a person wants to be done with their assets after they die)

    The rules say that a statutory legacy of £125,000 should go to the surviving spouse.

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Phrase Bank for statutory legacy