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Simple English definitions for legal terms

lapsed legacy

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A quick definition of lapsed legacy:

Term: Lapsed Legacy

Definition: A lapsed legacy is a gift that was left to someone in a will, but the person who was supposed to receive it has died before the person who made the will. This means that the gift will not be given to anyone and will instead go back to the estate. For example, if your grandma left you $100 in her will, but you passed away before she did, the $100 would go back to your grandma's estate instead of going to your family.

A more thorough explanation:

A lapsed legacy is a type of legacy that fails to take effect because the intended recipient has died before the testator (the person who made the will). In other words, the legacy "laps" or becomes invalid because the person who was supposed to receive it is no longer alive.

For example, if a person leaves $10,000 to their nephew in their will, but the nephew dies before the testator, the legacy is considered lapsed and the $10,000 will go to the residuary beneficiary (the person or organization designated to receive any remaining assets after specific gifts have been distributed).

Lapsed legacies can also occur if the intended recipient is no longer eligible to receive the gift due to a change in circumstances. For instance, if a person leaves their car to their son, but they sell the car before they die, the legacy is considered lapsed.

lapsed devise | lapsed policy

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
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the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
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it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
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@JumpySubsequentDolphin: wait this is so cute, also where r u going
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JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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