Expectancy Definition and Legal Meaning

On this page, you'll find the legal definition and meaning of Expectancy, written in plain English, along with examples of how it is used.

What is Expectancy?

History and Meaning of Expectancy

Expectancy is a legal term commonly used in the context of inheritances and refers to the probability or likelihood of receiving an inheritance in the future. An individual with an expectancy has a potential interest in property that may be received in the future, either presently or at the termination of a preceding interest. The term is commonly used in the realm of probate law where beneficiaries may have an interest in property or money from a deceased person's estate.

Examples of Expectancy

Here are a few examples of how the term expectancy might be used in different legal contexts:

• An individual who is expecting to receive an inheritance from a parent who has not yet passed away has an expectancy in that inheritance.
• A beneficiary who is expected to inherit a share of a deceased person's estate has an expectancy in that share until the estate is distributed.
• A person who is expecting to receive future payments from a trust or other financial arrangement has an expectancy in those future payments.

Legal Terms Similar to Expectancy

Here are a few legal terms related to expectancy:

• Heir: A person who is entitled to receive an inheritance from a deceased person's estate.
• Beneficiary: A person who is entitled to receive assets from a trust, will, or other legal arrangement.
• Devisee: A person who is designated to receive a specific piece of real property after the owner's death.
• Legatee: A person who is designated to receive a specific piece of personal property after the owner's death.