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A lapse statute is a legal provision that allows a gift in a will to pass to the descendants of a deceased beneficiary if that beneficiary dies before the testator (the person who made the will). In general, under both common law and the laws of most states, a beneficiary must outlive the testator for the gift to remain valid. Lapse statutes help ensure that gifts do not go to the state through intestacy when a beneficiary predeceases the testator, instead allowing certain heirs to inherit the gift.
Table of content
Legal Use & context
Lapse statutes are primarily used in estate planning and probate law. They come into play when a testator's intended beneficiary has died before the testator. This legal concept is crucial in ensuring that a testator's wishes are honored, even if the original beneficiary cannot inherit. Users may find forms related to wills and estate planning on platforms like US Legal Forms, which can help them draft documents that comply with their state's laws.
Key legal elements
Real-world examples
Here are a couple of examples of abatement:
Example 1: If a testator names their sibling as the beneficiary of a property and that sibling dies before the testator, the lapse statute may allow the sibling's children to inherit the property instead.
Example 2: A testator includes a class gift to their grandchildren. If one grandchild dies before the testator, the lapse statute may allow the deceased grandchild's children to inherit their share of the gift. (hypothetical example)
Relevant laws & statutes
Many states have enacted lapse statutes, which vary in their specific provisions. For example, Virginia's law allows descendants of a deceased beneficiary to inherit in their place unless the will specifies otherwise. Other states may have different rules regarding the inheritance of gifts when a beneficiary dies.
State-by-state differences
State
Lapse Statute Overview
Virginia
Allows descendants of a deceased beneficiary to inherit unless the will states otherwise.
California
Similar provisions exist, allowing descendants to inherit unless explicitly stated in the will.
New York
Follows a similar approach but may have specific rules regarding class gifts.
This is not a complete list. State laws vary, and users should consult local rules for specific guidance.
Comparison with related terms
Term
Definition
Differences
Lapse Statute
Allows gifts to pass to descendants of deceased beneficiaries.
Focuses on the inheritance of gifts when a beneficiary dies before the testator.
Antilapse Statute
A law that prevents a gift from lapsing when a beneficiary predeceases the testator.
Often used interchangeably with lapse statutes, but may have different applications in various states.
Common misunderstandings
What to do if this term applies to you
If you are dealing with a situation where a beneficiary has predeceased you, review the terms of your will and consider whether a lapse statute applies. You may want to consult an attorney for guidance on how to proceed. Additionally, you can explore US Legal Forms for templates that can help you create or update your estate planning documents.
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Gifts may pass to descendants of deceased beneficiaries.
State laws regarding lapse statutes can vary significantly.
Consulting a legal professional is advisable for complex situations.
Key takeaways
Frequently asked questions
If a beneficiary dies before the testator, a lapse statute may allow their descendants to inherit the gift instead of the gift lapsing.
Most states have enacted lapse statutes, but the specific provisions can vary from state to state.
Yes, you can specify in your will how you want to handle gifts if a beneficiary predeceases you, which may override the default provisions of lapse statutes.