Changes in Beneficiaries and Property After Will's Execution

Question 1

When does a gift in a will lapse?

Answer 1

When the beneficiary dies before the testator.

Question 2

What does an anti-lapse statute do?

Answer 2

prevents a gift which would otherwise fail due to its beneficiary dying before the testator from failing by redirecting the gift to someone else.

Question 3

When will the antilapse statute not apply to a gift that would normally fail?

Answer 3

When the will provides an alternative for the gift, i.e. has a plan B for the gift if the beneficiary dies before the testator.

Question 4

In most states, what is the effect of words of survivorship on a gift whose beneficiary has predeceased the testator?

Answer 4

In most states, words of survivorship act as an alternative to the gift’s beneficiary, therefore preventing the antilapse statute from applying.

Question 5

Under the UPC, what is the effect of words of survivorship on a gift whose beneficiary has predeceased the testator?

Answer 5

Under the UPC, words of survivorship have no effect, and the antilapse statute applies.

Question 6

If a will devises the residuary estate to two or more beneficiaries and one of them predeceases the testator, what is the modern rule?

Answer 6

The remaining residuary beneficiaries can divide the share in proportion to their interests in the residue.

Question 7

Where a will makes a gift to a class, and one of the class members dies before the testator, what happens?

Answer 7

The remaining members of the class take equally.

Question 8

What happens when a beneficiary dies before a will is made?

Answer 8

The gift intended to have gone to that beneficiary is void.

Question 9

Specific Devise

Answer 9

a gift of a particular item distinct from all other objects in the estate.

Question 10

General Legacy

Answer 10

a gift of a general economic benefit payable out of the general assets of the estate without requiring any particular source of payment.

Question 11

Demonstrative Legacy

Answer 11

a gift of a general amount that is to be paid from a particular source or fund.

Question 12

Residuary Estate

Answer 12

the balance of the testator’s estate after paying debts, expenses, taxes, and gifts.

Question 13

Ademption

Answer 13

the failure of a gift because the property is no longer in the estate of the testator at the testator’s death. The beneficiary gets nothing.

Question 14

To what kind of gifts does the doctrine of ademption apply?

Answer 14

Specific devises

Question 15

Can a piece of property be partially adeemed?

Answer 15

Yes. The is more like the testator dividing a previously devised piece of property between two or more people.

Question 16

Where a general or demonstrative legacy is not in the estate of the testator at the time of the testator’s death, what result?

Answer 16

The beneficiaries of such devises are satisfied by payments from the rest of the estate.

Question 17

Under the common law, a specific bequest of stock to a beneficiary . . .

Answer 17

includes only stock resulting from a stock split, but does not include stock resulting from a dividend.

Question 18

Under the UPC and modern trend, a specific bequest of stock includes . . .

Answer 18

stocks resulting from both stock splits and stock dividends.