A substituted bequest is a provision in a will that specifies an alternative beneficiary to receive a gift if the original beneficiary passes away before the distribution of the estate. This ensures that the testator's intentions are honored even if circumstances change regarding the original beneficiary's ability to inherit.
Substituted bequests are commonly used in estate planning, particularly in wills and trusts. They fall under the broader category of inheritance law and are important in ensuring that assets are distributed according to the testator's wishes. Users can often manage these provisions themselves using legal templates from US Legal Forms, which can help in drafting clear and effective wills.
Here are a couple of examples of abatement:
Example 1: A testator leaves a car to their brother, but states that if the brother dies before the testator, the car will go to their sister instead.
Example 2: A person bequeaths their house to a friend, with a provision that if the friend predeceases them, the house will be given to a charity (hypothetical example).
Examples of state differences (not exhaustive):
| State | Variation |
|---|---|
| California | Allows for clear substitution clauses in wills. |
| New York | Requires specific language to ensure the substitute beneficiary is recognized. |
| Texas | Has unique rules regarding the execution of wills that may affect substituted bequests. |
This is not a complete list. State laws vary, and users should consult local rules for specific guidance.
| Term | Definition | Difference |
|---|---|---|
| Bequest | A gift of personal property made in a will. | A substituted bequest includes an alternative beneficiary if the primary beneficiary cannot inherit. |
| Devise | A gift of real estate made in a will. | Similar to a bequest but specifically refers to real property; a substituted devise would follow the same principles. |
If you are considering including a substituted bequest in your will, it's important to clearly outline your intentions. You may want to consult with a legal professional to ensure that your will is valid and accurately reflects your wishes. Alternatively, you can explore ready-to-use legal form templates from US Legal Forms to help you draft your will effectively.
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If the substitute beneficiary predeceases you, the asset may pass to the next named beneficiary or fall under the laws of intestacy if none are specified.