17:04
we have been duped.
Warning
Info
Warning
Info
LSDefine
Simple English definitions for legal terms
ademption by satisfaction
Read a random definition: bankruptcy estate
A quick definition of ademption by satisfaction:
Ademption by satisfaction is when someone gives a gift to a person while they are still alive, which was originally meant to be given to them in their will. For example, if a father gives his child $25,000 while he is still alive, and his will says the child will receive $100,000, then the child will only get $75,000 from the will. This is because the first $25,000 was already given as a gift. However, if there is evidence that the gift was not meant to be part of the inheritance, then the presumption of ademption can be overcome. Some states have laws that say gifts made while someone is alive will not affect their will unless they specifically say so.
A more thorough explanation:
Ademption by satisfaction is a legal term that refers to a situation where a person gives a gift to someone that was initially intended to be included in their will while they are still alive. This means that the gift is considered to have already been given and cannot be given again through the will.
For example, if a father's will states that his child will receive $100,000, but he gives the child $25,000 while he is still alive, then the child will only receive $75,000 through the will because the first $25,000 was already given as a gift. This is known as ademption by satisfaction.
However, this presumption can be challenged if there is evidence that the gift was not intended to be part of the child's inheritance. Some states have also passed laws that remove the presumption of ademption in cases of gifts to immediate family members.
For instance, if a mother gives her daughter a car while she is still alive, but her will also includes a provision for the daughter to receive a car, the daughter will still receive the car through the will because the gift was not intended to adeem any part of the will.
Overall, ademption by satisfaction is a legal concept that helps ensure that gifts given while a person is still alive are properly accounted for in their will.
ademption by extinction | adequate and independent state grounds