18:51
join the ethically ambiguous legal field instead
Warning
Info
Warning
Info
LSDefine
Simple English definitions for legal terms
failed legacy
Read a random definition: démarche
A quick definition of failed legacy:
A failed legacy is a gift that someone intended to give through their will, but for some reason, it did not happen. This could be because the person who was supposed to receive the gift passed away before the will was executed, or because the gift was conditional and the condition was not met. It is important to make sure that your wishes are clear and that your will is properly executed to avoid a failed legacy.
A more thorough explanation:
A failed legacy is a type of legacy that does not take effect because the conditions for its fulfillment were not met. This means that the intended recipient of the legacy will not receive the gift.
For example, if a testator leaves a legacy to their granddaughter "if she attains the age of 21," but the granddaughter dies before reaching that age, the legacy would fail. The gift would not be given to anyone else, and the money or property would become part of the testator's estate.
This example illustrates how a failed legacy can occur when the conditions for its fulfillment are not met. In this case, the granddaughter did not reach the required age, so the legacy could not be given to her.