What happens when the recipient of a life gift pre-deceases the grantor? Do the recipients relatives collect?

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What happens when the recipient of a life gift pre-deceases the grantor? Do the recipients relatives collect?

2007-04-08 10:27:46 · 4 answers · asked by Sandie D 1 in Business & Finance ➔ Taxes ➔ Other - Taxes

4 answers

Are you referring to a life estate? If so, it reverts to the grantor. The beneficiary's heirs get none of it since it wasn't the beneficiary's property to begin with.

2007-04-08 13:09:58 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋

Even if the recipient doesn't pre-decease the grantor, a life estate reverts back to the grantor or her/his estate when the recipient passes away.

2007-04-12 15:23:59 · answer #2 · answered by Quislet 1 · 0⤊ 0⤋

The estate reverts to the grantor.

2007-04-08 17:32:41 · answer #3 · answered by Anonymous · 0⤊ 0⤋

type slowly and use small sentences....

2007-04-08 17:44:48 · answer #4 · answered by Andrew L 2 · 0⤊ 3⤋