Ademption: Sale of Stock Defeats Inheritance
A will (or trust) often leaves specific items — like stock — to named individuals. But what happens when that specific item no longer exists at the death of the owner? Well, let’s review the concept of “ademption.” What is ademption? The legal concept of ademption is straightforward. But understanding it requires us to first […]
If You Were the Probate Judge, What Would You Decide?
MAY 9, 2011 VOLUME 18 NUMBER 17 Let us give you some insight into how hard it can be to figure out how to interpret estate planning documents. At the same time we hope to explain why it is important to keep your own estate plan up to date. Timothy M. Donovan was a successful […]
