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Legal Definitions - contingent legacy
Definition of contingent legacy
A contingent legacy refers to a gift of property or money made in a will that is dependent on a specific, uncertain future event or condition occurring. The gift only becomes effective if and when that condition is met. If the condition is not fulfilled, the intended recipient does not receive the gift.
Here are some examples to illustrate this concept:
Educational Achievement: A will states, "I leave $50,000 to my niece, Sarah, provided she earns a master's degree in engineering before her 30th birthday."
Explanation: This is a contingent legacy because Sarah's receipt of the $50,000 is entirely dependent on her fulfilling two specific conditions: earning a master's degree in engineering and doing so before she turns 30. If she fails to meet either of these conditions, the legacy will not be paid to her.
Caregiving Responsibility: A will specifies, "My vacation home shall pass to my son, David, only if he has continuously cared for my beloved pet parrot, Captain, for at least two years following my death."
Explanation: David's inheritance of the vacation home is a contingent legacy. The gift is conditional upon him performing a specific action—caring for the parrot for a defined period. If David does not provide continuous care for Captain for the full two years, he will not receive the vacation home.
Specific Life Event: A will provides, "I bequeath $25,000 to my nephew, Michael, if he is married and has at least one child at the time of my death."
Explanation: This is a contingent legacy because Michael's ability to receive the $25,000 is tied to two specific life events that must both be true at the moment the will takes effect (the testator's death): he must be married, and he must have at least one child. If either of these conditions is not met at that time, the legacy will fail, and Michael will not receive the money.
Simple Definition
A contingent legacy is a gift of personal property specified in a will.
This gift is conditional and will only be transferred to the beneficiary if a particular future event or condition occurs.