What it means
A specific gift is a defined item or amount given to a beneficiary under a will. A gift of personal property (such as jewellery or a car) is often called a bequest or legacy, while a gift of real estate is traditionally called a devise. If the specific item no longer exists at the date of death, the gift may fail through ademption. If the named beneficiary dies before the will-maker, the gift may lapse unless the will or anti-lapse legislation provides otherwise.
How it's used
Under a specific gift in his will, his record collection went to his daughter and $5,000 went to a charity.