What occurs in the event of a lapse in a will?

In the context of wills and estates, a lapse occurs when a beneficiary named in a will dies before the testator or when the beneficiary is otherwise unable to inherit for any reason. When this happens, the gift to that beneficiary typically fails, which results in the beneficiary becoming ineligible to receive the specified gift.

In most cases, the laws governing wills dictate that if a named beneficiary lapses, the assets that would have gone to that beneficiary either fall into a residue clause (if there is one) or are redistributed according to the intestacy laws if there is no specific provision in the will about how to handle such a situation. The key principle here is that once a beneficiary lapses, they no longer have a claim to the inheritance outlined in the will, leading to their ineligibility.

Options that involve the appointment of a new trustee, contesting heirs, or the sale of all assets do not directly relate to the concept of a lapse in a will, making them less applicable in this context. A lapse in a will specifically addresses beneficiaries and the consequences of their inability or ineligibility to accept a gift.