Specific Gifts, Generally
A specific gift is any item of tangible personal property or intangible personal property that a testator gives directly to a specifically named beneficiary. This is not the same as naming who will receive your residuary estate.

For Example:
Specific gift: "I give my gold Rolex watch to Hanna."
Not a specific gift: "I give all of my property to my husband."

It is important to note that specific gifts are distributed before the residuary estate. Also, unless the will directs otherwise, any death taxes due on specific gifts are paid out of the residuary estate before the residuary estate is distributed.

In the above example, the gold watch would be given to Hanna before any property is given to the residuary beneficiaries. The residuary estate is also reduced by the amount of tax due on the specific gift before any property is given to the residuary beneficiaries, unless the will contains instructions that those taxes should be paid by each beneficiary of a specific gift.

See: Specific Gifts, Taxation