Equitable assets

Equitable assets are all assets which are chargeable with the payment of debts or legacies in equity, and which do not fall under the description of legal assets.

1 Story, Eq. Jur. § 552.

Those portions of the property which by the ordinary rules of law are exempt from debts, but which the testator has voluntarily charged as assets, or which, being non-existent at Jaw, have been created in equity.

Adams, Eq. 254, et seq.

They are so called because they can be reached only by the aid and instrumentality of a court of equity, and because their distribution is governed by a different rule from that which governs the distribution of legal assets.

2 JTonbl. Eq. hi 4, pt. 2, c.

2, § 1, and notes; Story, Eq. Jur. § 552.