Initial Situation
Split the kingdom; bring on retirement.
There isn’t any conflict inherent in Lear’s proposal for how to split his kingdom, nor is there anything particularly interesting about Edmund being an illegitimate son. For all we know, things could proceed calmly from here, which means we’re definitely in the initial situation.
Conflict
Banishment and general scheming.
Lear decides to divide his kingdom based on which of his daughters professes the most love for him. The love-game doesn’t go so well, and Cordelia ends up disowned. Kent is similarly banished, and Edgar decides to be evil. We have political and personal conflicts here.
Complication
Family issues boil over.
Lear’s daughters aren’t exactly hostess material, and Lear is left in a sticky spot, being disrespected in both of his daughters’ homes. The plot inherently thickens by the meshing of our originally distinct storylines; the Lear-Regan-Goneril troubles and the Edmund-Edgar-Gloucester issues.
Climax
Thunder, lightning, and violence.
Furious at the ingratitude of his children, Lear walks out on both of them and wanders screaming into the thunderstorm. Thunder and lightning are pretty strong indicators of the climax, as is Lear’s searing language and emerging insanity. Gloucester also gets his eyes plucked out when he tries to help Lear and Edmund rats him out.
Suspense
Armies and hidden identities.
As Cordelia’s French troops march somewhere offstage, tension builds. Also, with everyone wearing disguises and concealing their true identities, it’s only a matter of time before the truth is revealed. But until that happens, we can feel the tingly anticipation of waiting for it.
Denouement
Cordelia dies.
Lear and Cordelia lose the battle and are imprisoned. Lear, wiser now than at the beginning of the play, says he doesn’t mind – he’s learned over the course of the play that power politics don’t matter, while a good relationship with his daughter does. But then Cordelia is hanged.
Conclusion
Empty nothingness.
Heartbroken, Lear dies while cradling his daughter in his arms. Somebody obviously has to take over the kingdom now, but nobody really wants to the job.