In Re Estate of Timothy M. Donovan
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The decedent Timothy Donovan died in 2009. His will provided that his intangible personal property, such as bank accounts and stocks, be devided and bequeathed to his family. The will specifically excluded the decedent’s shares in Optimum Manufacturing Company. Two months before he died, the decedent sold all of his Optimum stock. Subsequently, the family filed suit seeking to have the proceeds from the sale of the Optimum stock passed to his family in accordance with his will. The trial court found that the decedent adeemed the stock, so it did not pass to the family as intangible property. The Supreme Court agreed with the trial court, finding that neither the Optimum stock nor the proceeds from the sale passed to the family.
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