Legal Question in Wills and Trusts in New York
stocks left in will
My Aunt owned shares of Company ''A'' stock and Company ''B'' stock. Four years prior to her death she bequeathed in her will ''A'' stock to one nephew and ''B'' stock to another nephew. Two years prior to her death the companies merged and Company ''A'' bought out Company ''B'' shares. She received cash for all of her ''B'' shares, no stock. She did not amend her will. Is the nephew who was bequeathed ''B'' shares entitled to anything since the ''B'' shares were bought out by Company ''A''?
Thank you.
2 Answers from Attorneys
Re: stocks left in will
Is this a question from the State Bar exam? (Held last week). If this is a legitimate question your best bet would be to contact an attorney as the issues involved are complex and will likely result in litigation if not resolved amicably.
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Re: stocks left in will
I agree with Steve this sounds like a bar exam question, but I will reply anyway. Nephew that received "B" stock received a specific bequest of "B" stock that no longer exists, as it was converted to cash, not stock of "A". The property specifically devised, no longer existing, ends the bequest. Nephew gets nothing, since the Will was not amended or revised. This is a reply to an Internet question and the response is not to be considered legal advice nor as creating an attorney-client relationship. Additional or missing facts might result in a different response.
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