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Sunday, January 27, 2013

What happens if the gift you were left in the will no longer exists?

Here's something that many beneficiaries and executors have had to figure out, amicably or otherwise - what happens when a specific gift left to the beneficiary in a will no longer exists? Does the beneficiary get something else instead, or is he simply out of luck? Click here to read a short but informative article about what happens in this case and how you can prevent this from happening in  your own will, from www.estatedebate.com.

2 comments:

  1. I have a question about using the word either vs neither on a will
    I have left my estate to my two adult children equally upon my death. If one dies before me, the estate goes 100% to the surviving child. If they BOTH die before me, the estate goes equally to my grandchildren. My current Will uses the word "either" and I think that is incorrect

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    Replies
    1. When I want to do what you're discussing, I say that the estate goes to the two children or the survivor of them. Then I start a new paragraph that says if neither of them survives, it goes equally to the grandchildren. Is this the instance of using "neither" that you are talking about?

      It's always possible that the lawyer or his/her assistant made an error. Without seeing the paragraph, I couldn't say for sure.

      Lynne

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