The Collaborative International Dictionary of English v.0.48:

Devise \De*vise"\, n. [OF. devise division, deliberation, wish,
   will, testament. See Device.]
   1. The act of giving or disposing of real estate by will; --
      sometimes improperly applied to a bequest of personal
      estate.
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   2. A will or testament, conveying real estate; the clause of
      a will making a gift of real property.
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            Fines upon devises were still exacted. --Bancroft.
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   3. Property devised, or given by will.
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The Collaborative International Dictionary of English v.0.48:

Devise \De*vise"\, v. t. [imp. & p. p. Devised; p. pr. & vb.
   n. Devising.] [OF. deviser to distribute, regulate, direct,
   relate, F., to chat, fr. L. divisus divided, distributed, p.
   p. of dividere. See Divide, and cf. Device.]
   1. To form in the mind by new combinations of ideas, new
      applications of principles, or new arrangement of parts;
      to formulate by thought; to contrive; to excogitate; to
      invent; to plan; to scheme; as, to devise an engine, a new
      mode of writing, a plan of defense, or an argument.
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            To devise curious works.              --Ex. CCTV.
                                                  32.
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            Devising schemes to realize his ambitious views.
                                                  --Bancroft.
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   2. To plan or scheme for; to purpose to obtain.
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            For wisdom is most riches; fools therefore
            They are which fortunes do by vows devise.
                                                  --Spenser.
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   3. To say; to relate; to describe. [Obs.] --Chaucer.
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   4. To imagine; to guess. [Obs.] --Spenser.
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   5. (Law) To give by will; -- used of real estate; formerly,
      also, of chattels.

   Syn: To bequeath; invent; discover; contrive; excogitate;
        imagine; plan; scheme. See Bequeath.
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The Collaborative International Dictionary of English v.0.48:

Devise \De*vise"\, n.
   Device. See Device. [Obs.]
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The Collaborative International Dictionary of English v.0.48:

Devise \De*vise"\, v. i.
   To form a scheme; to lay a plan; to contrive; to consider.
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         I thought, devised, and Pallas heard my prayer. --Pope.
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   Note: Devise was formerly followed by of; as, let us devise
         of ease. --Spenser.
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WordNet (r) 3.0 (2006):

devise
    n 1: a will disposing of real property
    2: (law) a gift of real property by will
    v 1: come up with (an idea, plan, explanation, theory, or
         principle) after a mental effort; "excogitate a way to
         measure the speed of light" [syn: invent, contrive,
         devise, excogitate, formulate, forge]
    2: arrange by systematic planning and united effort; "machinate
       a plot"; "organize a strike"; "devise a plan to take over the
       director's office" [syn: organize, organise, prepare,
       devise, get up, machinate]
    3: give by will, especially real property