Which term refers to the process of formally delivering a gift by means of a will?

The term that refers to the process of formally delivering a gift by means of a will is "bequest." A bequest typically involves a specific item, sum of money, or asset that an individual decides to leave to someone else upon their passing, as outlined in their will. This legal designation ensures that the intended recipient receives the specified gift after the individual's death, according to the wishes expressed in the will.

"Gift assignment" generally refers to the transferring of property or rights during a person's lifetime rather than through a will. The term "transfer" is broader and can apply to various situations, not just those involving gifts or wills. "Bequeathal," while related, is less commonly used and may not be as widely recognized in legal contexts as "bequest." Therefore, "bequest" is the most accurate and appropriate term for gifts granted through a will.