ANTILAPSE STATUTE Meaning and
Definition
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An antilapse statute is a legal provision included in the estate and probate laws of some jurisdictions to address situations where a beneficiary of a will or trust predeceases the testator or settlor. The antilapse statute seeks to prevent the lapse or failure of a gift by providing for its distribution to the descendants of the deceased beneficiary.
Under an antilapse statute, if a named beneficiary dies before the testator or settlor, the gift that was intended for that beneficiary does not fail but instead passes to a substitute beneficiary. Typically, this substitute beneficiary would be a descendant of the deceased beneficiary, such as their children or grandchildren. The intention behind an antilapse statute is to ensure that the intended gift still benefits someone in the family line, rather than becoming part of the general estate or trust.
Antilapse statutes vary among jurisdictions, so the specific rules and conditions for their application may differ. Some states may require that the deceased beneficiary leave surviving children for the antilapse statute to be activated, while others may include more extended family members as potential substitute beneficiaries. It is crucial to consult the specific laws of the jurisdiction involved to determine its particular antilapse statute provisions.
In conclusion, an antilapse statute is a legal provision that prevents the failure of a bequest or gift under a will or trust when the intended beneficiary dies before the testator or settlor. Instead of the gift being invalidated, the antilapse statute directs the gift to the descendants of the deceased beneficiary, ensuring that it remains within the intended family line.
