Real Estate Appeals Lawyer Sacramento, CA
Real Estate Appeals Lawyer Sacramento, CA
Ensuring a Beneficiary Receives Specific Property as Designated in a Will
A real estate appeals lawyer Sacramento, CA residents trust will tell you that when a person leaves their property to beneficiaries in a will or trust, they can leave money, a percentage of the estate, or by naming specific property. However, either because the testator who makes the will forgets or for various other reasons, the property that a beneficiary is bequeathed may not be part of the estate when the testator dies. This is known as ademption.
Ademption By Extinction
Ademption can happen by extinction and by satisfaction. When ademption happens by extinction, it means that the property that was bequeathed to a beneficiary in a will is no longer part of the testator’s estate. This may be because it was sold or otherwise disposed of during the testator’s lifetime. Either way, when there is an ademption by extinction, the beneficiary does not receive the benefit of the property. A Sacramento, CA appeals lawyer well-versed in real estate can help determine if this should occur.
The beneficiary does not receive another item from the testator’s estate in order to make up for the missing property. However, under the law, if a sale of the property is not complete when the testator dies, the property passes to the beneficiary, subject to the contract for sale. This means that the property may be sold, and the beneficiary would receive the proceeds from the sale. A real estate appeals lawyer in Sacramento, CA will be knowledgeable in these matters and can help guide you to which steps to take.
Ademption By Satisfaction
Ademption by satisfaction refers to a situation where the property is not part of the testator’s estate because the testator already transferred the property to the intended beneficiary. The testator can do this by transferring the property to the beneficiary during the testator’s lifetime. Therefore, the gift is already satisfied, and the beneficiary has the benefit of the gift he was supposed to receive.
The courts have sometimes looked at issues of ademption in terms of the testator’s intent. If the property is not in the estate on the testator’s death because of actions taken by another person, for example a guardian or a person with power of attorney, then the court may find that ademption would not apply. A real estate appeals lawyer in Sacramento, CA can help decide whether you have a case. In these events, the court may allow the beneficiary to receive property money derived from the sale of the property that was originally bequeathed.
The best way to avoid ademption and ensure that your beneficiaries receive the property you intended them to receive is to regularly update your will, especially after selling property. Without updating your will, you cannot be sure that a beneficiary you want taken care of after your death will receive anything under the will.
Contact an Experienced Estate Planning Attorney
To learn more about drafting a will, setting up a trust, and planning your estate so as to ensure that your intended beneficiaries receive the property you want them to, contact Kassouni Law to speak with a skilled estate planning attorney. Our legal team can assist you in setting up a new estate plan or review and update an existing plan. Call our office today to speak with a Sacramento, CA appeals lawyer to discuss your real estate needs.
