That portion of the assets of a deceased party which by law is directly liable, in the hands of his executor or administrator, to the payment of debLs and legacies. 1 Story, Eq. Jur.
More On This Topic
Link to This Definition
Did you find this definition of LEGAL ASSETS helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary
