When a bequest is made to a person described in a specific way, and no one exists at the time of the testator's death who fits that description, the bequest becomes invalid.
The Rule Against Perpetuity states that a bequest is not valid if the vesting of the bequeathed item could be delayed beyond the lifetime of certain individuals and a minor's age. Specifically, the vesting must occur within the lifetime of one or more persons alive at the testator's death, plus the minority of a person who is alive at the end of this period. If the bequest fails to meet this criterion, it is considered void.
When a bequest is made to a class of people, and some of those individuals are affected by the rules in sections 113 or 114, the bequest will be considered void only for those specific individuals, not for the entire class.
When a bequest in favor of a person or a class of persons is deemed void due to the rules in sections 113 and 114, any subsequent bequest in the same will that is intended to take effect after the failed bequest is also considered void.
When a will specifies that the income from any property should be accumulated (saved or added to the principal) for a period longer than eighteen years from the date of the testator's death, such a direction is generally considered void. However, there are exceptions where such directions are valid.
60 docs|4 tests
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1. What happens if a testator leaves a bequest to a person who is described but does not exist at the time of the testator's death? |
2. Can a bequest to a non-existent person be valid if it is subject to a prior bequest? |
3. How does the Rule Against Perpetuities affect bequests? |
4. What are the implications of making a bequest to a class of beneficiaries if some members are affected by Sections 113 and 114? |
5. What occurs if a bequest is intended to take effect only upon the failure of a prior bequest? |
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