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Wills, Trusts & Estates keyed to Dobris
McGee v. McGee
Facts
Decedent’s will made a bequest of $20,000 to a friend, Fedelma Hurd, and a bequest of “all my shares of stock in Texaco Company and any and all monies standing in my name on deposit in any banking institution” to her grandchildren. Five weeks prior to her death, decedent’s son acting under a written power of attorney withdrew $50,000 from the savings account to purchase United States Treasury bonds. Her sons maintains that the objective was to prevent federal estate tax liability and this action was ratified by his mother. The administrator of the estate brought this action to determine the effect of ademption on the specific legacy to the grandchild and the bequest to the friend. The trial court found that the bequest to the friend failed and the Treasury bonds should be used to satisfy the specific legacy to the grandchildren.
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