LAPSE
What happens if I leave a gift to a specific person in my will (referred to as a specific bequest), but the beneficiary of that gift dies before I do?
This is referred to as a ‘lapsed’ gift, meaning the gift would fail and the inheritance intended for that person would revert back to your estate and be distributed amongst your other beneficiaries. However, both Kansas and Missouri have statutes that dictate the gift would to pass to the beneficiary’s children or grandchildren instead of automatically lapsing. If you want that gift to pass to someone else instead of the beneficiary’s children or grandchild, you must dictate that in your will.
If you need guidance on how to gift a specific asset from your estate, email us at info@weeselawfirm.com or call us at 913-706-8491.
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