Is a gift of funds intended to be used for the purpose of ademption or ademption?
Saskatchewan, Canada
The following excerpt is from Puczka Estate (Re), 1970 CanLII 606 (SK QB):
In Barker v. Rayner (1826) 2 Russ 122, at 125, 38 ER 282, the Lord Chancellor said: “If there be a gift of a sum of money, and the testator points to a fund, not for the purpose of giving that fund, but for the purpose of showing that the money to arise from the fund is to go to the legatee as money, the cases would authorize me to say, that, the intention being to give the money, the legatee is not to lose the benefit intended for him, even if the money should not remain in that fund; and its ceasing to remain in that fund would not amount to an ademption.”
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