There should be some lap, otherwise the engine will run non-expansively. Apart from wasting steam (or air), it will not run smoothly.
This explains why in Jason’s illustration the crank and eccentric centre-lines are at that 120º angle, not 90º, to each other.
The lap is the amount by which the valve in its mid-travel overlaps the port; given in a simple piston-valve by the two valve heads being thicker on their admission faces the inner ones). The eccentric travel is also made larger for it.
So that it starts to open to admission the eccentric is taken a bit further round the crankshaft to compensate for it. The amount of lap and the eccentric setting are very much a matter of the individual engine’s design.
The extra 30º in the drawing, leading for a slide-valve, trailing for a piston-valve, to give that lap displacement is purely illustrative. It is not necessarily 30º in all engines.
In practice the port does not necessarily open fully to admission, but does so for exhaust.