In the nuanced world of Estate Planning, understanding specific legal concepts is vital.
Ademption, a term often overlooked, demands particular attention.
Ademption refers to an intricate situation where a specific bequest in a will cannot be fulfilled since the asset no longer exists in the estate at the time of the testator's death.
Such a scenario is analogous to the instance of placing an order for a pepperoni pizza, paying for it, but later discovering that there is no pepperoni available. The issue at hand becomes one not of satisfaction, but of resolution and management.
