There are many situations in which a gift under a will cannot be given, meaning the beneficiary cannot get what the will intends to give them. This can include when a specific gift no longer exists or is no longer owned by the testator, when the assets of the estate are insufficient to settle all legacies, and when the intended beneficiary dies before the testator. Situations where a gift fails are complicated and frustrating for executors and beneficiaries but can often be avoided. This webinar with experienced estates practitioner Lynne Butler will answer the question, what happens if a gift made in a will can’t take effect? Lynne will address common reasons gifts fail, the effect of failure of a gift, opportunities to “fix” an invalid gift, and practical steps lawyers can take to help reduce the risk of a gift failing. Among the topics Lynne will address are:
The difference between lapse, ademption and abatement
The difference between waiving an inheritance and assigning it
How to plan for contingencies to preserve your client’s wishes
Best practices and drafting strategies to avoid failure of a gift
As an estate planning lawyer, it is your duty to consider and draft for as many eventualities as possible, to ensure that the gifts made in a will can take effect as your client intends. Don’t miss this chance to learn what you can do to greatly reduce the risk of a failed gift.
Live webinar with chat includes 60 day replay. This program features real-time audio of the presenter with synchronized presentation slides, and a chat feature that allows for live Q & A.