Marginal Tax Rate
A person or organization receiving a gift of an object or money under the terms of the will of a person who has died. although technically a legatee does not receive real property (a devisee), “legatee” is often used to designate a person who takes anything pursuant (according) to the terms of a will. the best generic term is beneficiary, which avoids the old-fashioned distinctions between legatees taking legacies (personal property) and devisees taking devises (real property), terms which date from the middle ages.
