Ademption: Cracks in the Identity Theory Provide Opportunities
Probate and Property, May/June 1996, Volume 10, Number 3
By Bruce L. Stout
The rule of ademption has existed for almost as long as there have been wills. The general rule of ademption is that if property constituting a specific bequest or devise is no longer in the decedent's possession at his or death, then neither the asset nor its cash equivalent passes to the beneficiary.