What Happens When a Specific Gift Identified in a Will is no Longer Owned by the Will Maker at Death?
In general, a person entitled to receive a specific gift of property in a Will has a right to receive: • such specifically devised property upon the death of the Will maker, and • any balance of the purchase price owing from a purchaser to the Will maker at death by reason of the sale of the property. However, if specifically devised property is sold by a conservator or an agent acting within the authority of a durable power of attorney for an incapacitated person, the specific devisee has the right to a general monetary gift equal to the net sale price only if such incapacity existed for less than one year before death.
