Changes to Will Beneficiaries Flashcards
Once executed, can a will be changed or revoked at any time?
yes, it can be revoked at any time before the testator’s death
how is a will generally interpreted?
it is generally interpreted as though it were executed immediately before the testator’s death
what is lapse?
a gift under a will to a deceased beneficiary is said to lapse
how does Virginia help lapse?
VA has an anti-lapse statute that rescues certain gifts
when does anti-lapse statute apply?
when the beneficiary is a grandparent or a descendant of a grandparent
the gift goes to descendants of dead beneficiary, as long as they survive the testator, using modern per stripes distribution rules
can anti-lapse be overridden?
a testator can override the anti-lapse by language to that effect in the will
what happens if the testator makes a class gift?
if a member of the class predeceases the testator, and anti-lapse does not apply, the remaining members of the class share the gift
residuary gift to non-class beneficiaries
treated as a class gift for lapse purposes
special rule in Virginia, since VA hates intestacy
what actually happens if a gift does indeed lapse?
unless an exception applies, gifts to a deceased beneficiary lapse into the residue (lapsed residuary gifts pass by intestacy)
what if the specific purpose of gift to charity cannot be achieved or charity is gone?
the court may invoke the doctrine of cy pres to reform the gift to carry out the general intent of the testator
spouse omitted from premarital will
receives an intestate share of the testator’s estate unless the omission intentional
children born after testator executes will
if no living children, after born children are entitled to an intestate share
if testator had living children, after born children are entitled to the lesser of an intestate share or the largest amount any other child receives under the will
