What is ademption?
Ademption occurs when a specific gift in a will no longer exists at death.
Why it matters
The beneficiary generally gets nothing if the specific item is gone.
Common confusion
Ademption is the gift gone; abatement is the gift reduced for short funds.
Frequently Asked Questions
If I sold the gifted house, what happens?
The gift is adeemed and the beneficiary gets nothing from it.
What about replacement property?
Only if the will or law says the substitute passes.
Does ademption apply to cash?
Cash gifts are rarely adeemed since money is fungible.