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What is Ademption?
Ademption (also known as "Ademption by Extinction") is a legal doctrine applicable to property that is passed in a decedent's last will and testament (will). More specifically, it provides the rules for what happens when a decedent (testator) leaves property in their will that they no longer own or possess
How Does Ademption Work?
Ademption exists under the statute of many US states or under the common law developed in that state. If a testator attempts to bequeath property that she no longer owns to her heirs, the gift fails or it is "adeemed". This rule allows for the orderly distribution of the testator's property. Ademption applies to specific bequests. This means property that the last will and testament specifically identifies. For example, "I leave my brother my Martin guitar". This is a specific bequest of the guitar. If the testator no longer owns the guitar, the bequest adeems, or fails. A general bequest would be, "I leave $100 to my brother". Because the testator leaves an amount of money, this is general. That is, the money is not specifically identifiable from all amounts of money in the estate. If the will said, "I leave the first $100 bill that I ever earned". If the bill is destroyed, lost, or spent before the testator passes, the attempted bequest would fail or adeem, as the specific $100 bill is gone.
Related Topics
- Succession Planning
- Chartered Trust and Estate Planner
- Conservatorship
- Probate
- Cy Pres Doctrine
- Exordium Clause
- Non-Contestability (No Contest) Clause
- Bequest
- Per Stirpes
- Ademption
- Abeyance
- Elective Share
- Escheat
-
Qualified Domestic Relations Order (QDRO)
- Declaration of Trust
- Uniform Gifts for Minors Act
- Acceptance of Office by Trustee
- Beneficial Interest
- Asset Protection Trust
- Bare Trust
- Blind Trust
- Charitable Lead Trust
- Charitable Remainder Trust
- Charitable Remainder Annuity Trust
- Charitable Gift Annuity
- Credit Shelter Trust
- Discretionary Trust
- Generation Skipping Trust
- Grantor Trust Rules
- Living Trust
- Inter Vivos Trust
- Revocable Trust
- Irrevocable Trust
- Irrevocable Income-Only Trust
- Qualified Domestic Trust (QDOT)
- Qualified Terminal Interest Protection Trust (QTIP)
- ABLE Account
- Accumulated Income Payments (Canada)
- Charitable Split-Dollar Insurance Plan
- Coverdell Education Savings Account