Ademption

Imagine you have a toy car that you really love and you want to give it to your friend when you grow older. But when you grow up, your toy car is old and broken and doesn't work anymore. When the time comes to give it to your friend, you can't give them the broken toy car because it's not the same as the toy car that you wanted to give them. This is like ademption.

Ademption is a legal term that means when you promise to give something to someone in your will, but it's not available when you die, then the person who was supposed to receive it won't get anything instead. The thing that you promised to give might have been sold, lost, stolen, or destroyed. If this happens, the person who was supposed to receive it won't get any compensation or substitute.

For example, let's say your grandpa promised to give you his vintage watch in his will. Unfortunately, before he passed away, he lost the watch or sold it. Even if your grandpa intended to give you something else instead, you wouldn't be entitled to get the watch or anything else because of ademption.

So, it's important to update your will regularly and make sure that the things you promised to give are still available when you die. This will avoid any confusion and disappointment for your loved ones when they find out they won't be getting what you promised.