10:38
Very happy with LR other than having to guess on a couple questions cuz of time
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LSDefine
Simple English definitions for legal terms
failure of issue
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A quick definition of failure of issue:
A failure of issue happens when someone who owns property dies without any living children or direct descendants to inherit the property. There are two types of failure of issue: definite and indefinite. Definite failure of issue is when the will specifies a certain time to determine if there are any living children or direct descendants. Indefinite failure of issue is when there is no time limit set in the will to determine if there are any living children or direct descendants.
A more thorough explanation:
A failure of issue is a legal term used to describe a situation where a property owner dies without any living children or direct descendants to inherit their property.
A definite failure of issue is a type of failure of issue that is determined at a specific time set in a will. For example, if a property owner writes in their will that their property should go to their children, but if they have no living children at the time of their death, then the property will go to a specific charity or organization.
An indefinite failure of issue is a type of failure of issue for which no time limit is set in a will. For example, if a property owner writes in their will that their property should go to their children, but if they have no living children or direct descendants at the time of their death, then the property will go to their closest living relatives.
These examples illustrate how a failure of issue can occur when a property owner dies without any living children or direct descendants to inherit their property. It is important to have a clear and specific will to ensure that your property is distributed according to your wishes.