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Wills, Trusts & Estates Keyed to Sterk
McGee v. McGee
Citation:
122 R.I. 837, 413 A.2d 72 (1980)Facts
The will provisions relevant to this appeal are as follows:
Clause Eleventh: The testator bequeaths $20,000 to her friend, Fedelma Hurd, in appreciation of her kindness.
Clause Twelfth: The testator bequeaths all her shares in Texaco and any bank deposits, to be divided into three equal parts. Each part is to be given to the living children of her sons Philip, Richard, and Joseph, with each grandchild sharing equally in the portion designated for their parent.
Before the testator’s death, her son Richard withdrew $50,000 from her savings account to buy U.S. Treasury bonds, intending to address potential estate tax liability. However, the bonds did not serve their intended purpose as no estate tax liability was incurred. The remaining funds were used for other purposes. The appeal concerns the approximately $30,000 held in Treasury bonds.
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