An anti-lapse statute is a legal provision that prevents the lapse or failure of a gift in a will or trust when the intended beneficiary predeceases the testator or settlor. In other words, if a beneficiary named in a will or trust dies before the person who created it, the anti-lapse statute ensures that the gift will not fail but instead passes to the deceased beneficiary’s descendants or other specified individuals. The purpose of this statute is to carry out the testator’s or settlor’s intent and prevent unintended consequences due to the beneficiary’s death. Anti-lapse statutes vary by jurisdiction, so it is important to consult the specific laws of the relevant state or country.
An Anti-Lapse Statute is a law that prevents a gift from failing if the intended recipient predeceases the testator.
If a beneficiary named in a will or trust dies before the testator, the Anti-Lapse Statute ensures that the gift passes to the deceased beneficiary’s descendants or other heirs instead of reverting back to the estate.
No, not every state has an Anti-Lapse Statute. The specifics of the law can vary by state, so it’s important to consult with a legal professional to understand how it applies in your jurisdiction.
In some cases, a testator may specifically address the issue of a beneficiary predeceasing them in their will or trust, which can override the Anti-Lapse Statute. It’s important to carefully review the language of the estate planning documents to understand how this issue is addressed.
The primary beneficiaries of an Anti-Lapse Statute are the descendants or heirs of a deceased beneficiary who would have otherwise received nothing if the gift had lapsed.
It is possible for the application of an Anti-Lapse Statute to be challenged in court, particularly if there are disputes over who should receive the lapsed gift. Legal representation is recommended in such cases.
If there are no descendants or heirs of a deceased beneficiary, the lapsed gift may revert back to the estate or be distributed according to the terms of the will or trust.
Yes, an Anti-Lapse Statute can apply to non-family members or organisations named as beneficiaries in a will or trust, depending on the specific laws of the state.
The Anti-Lapse Statute can have significant implications for estate planning, particularly in cases where beneficiaries may predecease the testator. It’s important to consider this law when creating or updating estate planning documents.
If you have questions about how the Anti-Lapse Statute may impact your estate planning or the distribution of assets from a deceased loved one’s estate, it’s important to consult with a qualified estate planning attorney for guidance.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 12th April 2024.
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