An executory bequest is a type of testamentary gift that grants personal property to a beneficiary, but only if a specific condition is met. This condition typically involves the death of the testator (the person who made the will) without any lawful heirs. Essentially, it is a gift that is contingent upon certain circumstances occurring after an absolute gift has been made to another party.
Executory bequests are commonly used in estate planning and probate law. They allow individuals to specify conditions under which their assets will be distributed after their death. This term is relevant in various legal areas, including:
Users can manage executory bequests through legal forms and templates, which can simplify the process of creating a will or trust that includes such provisions.
Here are a couple of examples of abatement:
Example 1: A testator leaves their estate to their child but specifies that if the child dies before them and has no children, a certain piece of property will go to a friend. This property is an executory bequest.
Example 2: A will states that a testator's collection of art will be given to a museum only if the testator dies without any heirs. This collection is also an executory bequest.
Examples of state differences (not exhaustive):
| State | Variation |
|---|---|
| California | Executory bequests are recognized, but specific statutory requirements must be met. |
| New York | Similar provisions exist, but the interpretation may differ based on case law. |
| Texas | Executory bequests are allowed, with certain formalities required for validity. |
This is not a complete list. State laws vary, and users should consult local rules for specific guidance.
| Term | Definition | Key Differences |
|---|---|---|
| Absolute Bequest | A gift of property that is given outright without any conditions. | Unlike executory bequests, absolute bequests do not depend on any future events. |
| Contingent Bequest | A gift that depends on a specific condition being met. | Executory bequests are a type of contingent bequest, but they specifically relate to the death of the testator without heirs. |
If you are considering including an executory bequest in your will, it is advisable to:
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