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Legatee

Categories: Regulations

If we were in charge of naming things, a “legatee” would be a mythical, amphibious creature with the body of a manatee and the legs of a human. Quite a striking mental image, isn’t it?

But alas, we’re not in charge of naming things. The term “legatee” simply refers to someone who inherits something. It’s basically another word for “beneficiary,” though back in the day, inheritance sticklers used to make a distinction between legatees, who inherited personal property, and devisees, who inherited “real” property. But nowadays, if we refer to someone as a legatee, it’s pretty much accepted that we’re talking about a beneficiary.

Find other enlightening terms in Shmoop Finance Genius Bar(f)