Wills, Trusts, and Estates

Intent Theory

Under the newer intent theory of ademption, if a specifically devised is not in the testator's estate, the beneficiary is still entitled to a replacement or cash value of the item if he can show that this is what the testator would have wanted.

This can mean that you get a much more valuable piece of property. E.g., if someone drives a beautiful 2006 Chevy Malibu, devises it in his will, and then trades it in for a Ferrari, the devisee is entitled to the replacement Ferrari.