Wills

[redwing]

Legal Question from the wife

If I had an expensive piece of jewelry listed in my will and I sold it, then had an accident and died a week later before I have a chance to change my will..what happens?

How about if we sell a property and don't change our will?

Apparently the issue came up in her discussions today

 

[Munchkin]

I imagine that part of the will would just become irrelevant since the asset is no longer yours when you die. My mother left a piece of Jewellery to one of my sisters but shortly before she died she changed her mind and gave it to one of my other sisters. First sister really had no claim to it when mum died as the ring was not mums to give at that point.

 

[Terry_w]

That is know as 'ademption'. That is the gift is revoked if it is disposed of.

But it can also depend on the wording.

eg. If you say
a) I leave 100 WBC shares to Redwing

or

b) I leave my 100 shares to Redwing.

for a) If I have 100 WBC shares and I sell them before my death, then the estate would need to buy 100 WBC shares to leave to Redwing.

for b) If I had sold my shares then they are adeemed and Redwing misses out.