Legal Definitions - expectant right

An expectant right refers to a potential future interest or claim that someone holds, but which has not yet fully materialized or become legally enforceable. It is a right that depends on certain future events occurring or specific conditions being met. Until those events or conditions are fulfilled, the right remains an expectation rather than a present, absolute entitlement.

Here are some examples illustrating an expectant right:

• Example 1: Inheritance from a Living Relative
  A grandchild is named as a beneficiary in their grandparent's will. While the grandchild has an expectation of inheriting assets, this is an expectant right. The grandparent could change their will at any time, spend all their assets, or the grandchild could pass away before the grandparent. The right to the inheritance only becomes a present, enforceable right upon the grandparent's death and the subsequent probate of the will. This illustrates an expectant right because the entitlement to the inheritance is contingent on future events (the grandparent's death, the will remaining unchanged) and is not a guaranteed, present claim.
• Example 2: Future Payment for Services Under Contract
  A freelance graphic designer signs a contract with a client to create a new company logo. The contract stipulates that the designer will receive the final payment upon successful delivery and client approval of the completed logo. Before the logo is finished and approved, the designer has an expectant right to that final payment. This demonstrates an expectant right because the designer's entitlement to the payment is dependent on fulfilling their contractual obligations and the client's subsequent approval, which are future conditions.
• Example 3: Beneficiary of a Life Insurance Policy
  A spouse is designated as the sole beneficiary of their partner's life insurance policy. While the spouse expects to receive the policy's payout, this is an expectant right during the partner's lifetime. The partner could change the beneficiary designation, allow the policy to lapse, or the spouse could predecease the partner. The right to the insurance proceeds only becomes absolute and enforceable upon the partner's death. This shows an expectant right because the spouse's claim to the insurance payout is contingent on the partner's death and the policy remaining in force with the spouse as beneficiary, all of which are future uncertainties.