IL Bar Practice Questions - Illinois Bar Examination Exam

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A testator's will leaves a specific gift of '100 shares of XYZ stock' to a beneficiary, but the testator sold all XYZ stock before death. Under the doctrine of ademption by extinguishment, what happens to the gift?

The beneficiary receives the cash value of the shares from the residue The entire will is invalidated The beneficiary receives substitute shares of a different company The specific gift is adeemed (fails) because the property is no longer in the estate

Correct Answer:

The specific gift is adeemed (fails) because the property is no longer in the estate

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