Many people assume that if a beneficiary named in their Will dies before they do, the beneficiary’s inheritance will automatically pass to the next closest family member. While that may seem logical, it is not always how Georgia law works. What happens next depends on the language of your Will, your relationship to the deceased beneficiary, and whether certain Georgia laws apply. Failing to plan for this possibility can lead to results you never intended.
When a beneficiary dies before the person who created the Will, that beneficiary is said to have predeceased the testator. If your Will names an alternate or contingent beneficiary, the beneficiary’s inheritance will pass according to those instructions. For example, you may leave an asset to one child but direct that it go to that child’s children if your child passes away before you. Naming alternate or contingent beneficiaries is one of the simplest ways to help ensure your wishes are carried out.
If your Will does not name an alternate beneficiary, Georgia law may determine who receives the gift. In some situations, Georgia’s anti lapse statute allows the descendants of certain deceased family members to inherit the gift instead. However, this law does not apply to every beneficiary or every circumstance. If the law does not preserve the gift, the property may become part of the residuary estate or be distributed according to other provisions in your Will or, in some cases, under Georgia’s intestacy laws.
The belief that a beneficiary’s inheritance automatically goes to the next closest relative is a common misconception. Estate planning should account for unexpected life events, including the death of a beneficiary, so your assets are distributed according to your wishes instead of default legal rules.
If one of your beneficiaries has passed away or you have not reviewed your estate plan in several years, now is a good time to update your documents. Our attorneys at Grissom Law, LLC can review your Will, explain how Georgia law applies to your situation, and help ensure your estate plan continues to protect the people you love. Contact us today to schedule a consultation and gain peace of mind knowing your legacy is prepared for whatever the future may bring.
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This Blog/Web Site is made available for educational purposes only as well as to give you general information and a general understanding of the law, not to provide legal advice. By using this blog site you understand that there is no attorney client relationship between you and Grissom Law, LLC.