Define: Expectancy

Expectancy
Expectancy
Quick Summary of Expectancy

Expectancy, in legal terms, refers to the anticipated benefits or rights that an individual or entity reasonably expects to receive under a contract, will, or other legal arrangement. It often relates to future interests, such as inheritances, bequests, or contractual obligations that have not yet been fulfilled. Expectancy can arise from various sources, including promises, representations, or legal entitlements established by law. In contract law, for example, parties may have an expectancy of performance or payment based on the terms of the agreement. Similarly, in estate planning, beneficiaries may have an expectancy of receiving specific assets or shares of an estate based on a decedent’s will. The legal protection of expectancy interests aims to safeguard individuals’ reasonable expectations and ensure that they receive the benefits or rights to which they are entitled under the law.

What is the dictionary definition of Expectancy?
Dictionary Definition of Expectancy
n. a possibility of future enjoyment of something one counts on receiving, usually referring to real property or the estate of a deceased person, such as a remainder, reversion, or distribution after the death of someone who has use for life.
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This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.

This glossary post was last updated: 28th March, 2024.

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