Changes to Property

Question 1

Lapse

Answer 1

Occurs when an intended beneficiary under the will dies before the testator

Gift fails (lapses)

Question 2

What Happens to a Lapsed Gift?

Answer 2

Falls into the residuary gift

If no residuary clause, gift will pass by intestate succession

Question 3

Anti-Lapse Statute

Answer 3

Prevents lapse by providing an alternative disposition for lapsed gifts

Applies to gifts to a descendant of the testator

Intended descendant must be survived by issue

Ex: T-Bone’s will provides, “$10,000 to my son, Alex.” Alex predeceases T-Bone and is survived by a daughter, Agnes. The $10,000 would go to Agnes.

Question 4

Ademption

Answer 4

Arises when a testator’s will makes a SPECIFIC DEVISE of property but the specific piece of property is no longer in the estate at testator’s death

Devisee is not entitled, at least on the basis of that devise, to a distribution of property from the testator’s estate

Question 5

Ademption: Identity Theory

Answer 5

If the property subject to a specific devise is no longer in the estate, the specific devise is EXTINCT