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In the context of estate planning, legacy is some tangible or intangible asset left behind to a descendant or other beneficiary, known as a bequest. If the decedent had a will or trust, he or she would have identified the specific beneficiaries for each item or asset. If the decedent did not have a will, the laws of the state would decide who receives the asset, regardless of family circumstances, the testator's values or intentions or need. Legacy is more than tangible prope