death of residual beneficiary

[beekrock]

Pennsylvania

Jane Doe's will says the following:

I give the residue of my estate, real and personal, to my oldest and dearest friend, Mary, if she survives me; if not, then to her husband, Larry.

Mary dies, predeceasing Jane. A year later, Larry dies (also predeceasing Jane).

What happens to the residue? Does the bequest lapse and return to Jane Doe's estate or does it go to Larry's estate?

Any help on this would MUCH appreciated.

 

[Dandy Don]

Since there was no stipulation that Larry had to survive Jane, then Larry's estate gets the residue.

Problem is, do you know how much the residue is or is going to be or even if there is going to be any residue?

DANDY DON IN OKLAHOMA ([email protected])

 

[beekrock]

Dandy- First, I want to thank you for your help, not just on this post, but this entire forum. I've beeen reading posts here for the last year and I'm amazed as to how many you have contributed to!

Yes, there is quite a large amount of residue. I've read about 6 books trying to find the answer to this (although, they didn't seem to be that specific). 5 of the books say that if a beneficiary predeceases the testator, the gift lapses and returns to the testator's estate to be distributed to the residual beneficiary. The problem here is that, since the residual beneficiary is dead, I was afraid that the residue would go intestate and be distributed according to the laws of intestate succession. Only one book that I read says that the residue would go to "Larry's" estate (the wording of this book seemed crystal clear, though). Are residual beneficiaries treated differently than other beneficiaries?

I know this sounds stupid, but how sure are you that it would go to Larry's estate? 75%? 99%? Or, do you know off-hand of any statutes (for any state) that explain this? Thanks again!

 

[beekrock]

Oh, and I'm not sure if it matters, but Mary and Larry have no children.

 

[Dandy Don]

With a matter of this importance you need to be talking to an attorney who is familiar with your state law instead of trying to research it yourself.