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ANN ARBOR, Mich. - Michimich -- Estate attorney Sarah Meinhart is raising awareness about two often-overlooked estate planning pitfalls—lapse and ademption—that can significantly affect how a person's assets are distributed after death.
"Many people don't realize that changes in their assets or beneficiaries can result in gifts from their will failing entirely," said Meinhart. "That's why regular estate plan reviews are critical."
A lapsed gift occurs when a named beneficiary passes away before the testator, while ademption refers to gifts of specific assets that no longer exist at the time of death. In both cases, the intended gift may not reach the designated recipient.
Learn more about understanding lapse and ademption in estate planning here (https://www.psedlaw.com/learn/more/gift-fails-l...).
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Sarah Meinhart encourages residents of Ann Arbor and surrounding areas to consult with an experienced estate planning attorney to ensure their wills remain up to date and effective. Her practice focuses on estate planning, trust law, and tax strategies tailored to individual and family needs.
For more information or to schedule a consultation, call (734) 665-4441 or visit PSEDLaw.com (https://www.psedlaw.com/)
About Pear Sperling Eggan & Daniels, P.C.: Pear Sperling Eggan & Daniels, P.C. is one of the oldest law firms in Washtenaw County, Michigan. Founded in 1948, Pear Sperling has adapted with the ever-changing needs of clients and flourished into a well-respected and successful law firm, trusted by clients, judges and other attorneys. Top Rated Michigan Superlawyers®, AV® rated, and their attorneys are held to the highest rating possible based on peer review. https://www.psedlaw.com
"Many people don't realize that changes in their assets or beneficiaries can result in gifts from their will failing entirely," said Meinhart. "That's why regular estate plan reviews are critical."
A lapsed gift occurs when a named beneficiary passes away before the testator, while ademption refers to gifts of specific assets that no longer exist at the time of death. In both cases, the intended gift may not reach the designated recipient.
Learn more about understanding lapse and ademption in estate planning here (https://www.psedlaw.com/learn/more/gift-fails-l...).
More on Michimich.com
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Sarah Meinhart encourages residents of Ann Arbor and surrounding areas to consult with an experienced estate planning attorney to ensure their wills remain up to date and effective. Her practice focuses on estate planning, trust law, and tax strategies tailored to individual and family needs.
For more information or to schedule a consultation, call (734) 665-4441 or visit PSEDLaw.com (https://www.psedlaw.com/)
About Pear Sperling Eggan & Daniels, P.C.: Pear Sperling Eggan & Daniels, P.C. is one of the oldest law firms in Washtenaw County, Michigan. Founded in 1948, Pear Sperling has adapted with the ever-changing needs of clients and flourished into a well-respected and successful law firm, trusted by clients, judges and other attorneys. Top Rated Michigan Superlawyers®, AV® rated, and their attorneys are held to the highest rating possible based on peer review. https://www.psedlaw.com
Source: Pear Sperling Eggan & Daniels, P.C.
Filed Under: Legal
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