Legal Definitions - extinguishment of legacy

Extinguishment of legacy, also commonly referred to as ademption, is a legal principle that applies when a specific gift, or "legacy," promised in a will cannot be given to the intended beneficiary. This occurs because the particular item or asset no longer exists or is no longer owned by the person who made the will (the "testator") at the time of their death.

Essentially, if a testator specifies a unique item in their will—such as a particular piece of jewelry, a specific stock certificate, or a named property—and then sells, gives away, destroys, or otherwise disposes of that exact item before they die, the legacy is extinguished. The beneficiary typically does not receive a substitute item or the monetary value of the original item from the estate.

• Example 1: Sale of a Specific Asset

  Imagine a will that states, "I give my vintage 1965 Mustang convertible to my grandson, Alex." Years after drafting the will, the testator decides to sell the Mustang to fund a new hobby. When the testator passes away, the Mustang is no longer part of their possessions.

  Explanation: The legacy of the vintage Mustang convertible to Alex is extinguished. Because the testator sold the specific car during their lifetime, it no longer exists in their estate at the time of death. Alex will not receive the car, nor will he receive its monetary value from the estate, as the specific gift is no longer available.

• Example 2: Disposal of a Specific Financial Holding

  Consider a will containing the clause, "I bequeath my 500 shares of Acme Corporation stock held in my brokerage account to my niece, Brenda." Before their death, the testator sells all their Acme Corporation shares and uses the funds to purchase shares in a different company.

  Explanation: The specific legacy of the 500 shares of Acme Corporation stock to Brenda is extinguished. The testator no longer owned those particular shares when they died. Brenda will not receive the Acme Corporation stock, nor will she receive the value of those shares from the estate, even though the testator reinvested the money.

• Example 3: Destruction of a Unique Item

  Suppose a will specifies, "I give my hand-painted portrait of the family dog to my sister, Carol." Tragically, a house fire occurs before the testator's death, and the portrait is completely destroyed.

  Explanation: The legacy of the hand-painted portrait to Carol is extinguished. Since the specific item was destroyed and no longer exists in the testator's estate at the time of death, Carol will not receive the portrait. She also will not receive any compensation for its value, as the specific gift is no longer available.