Margaret Akins vs. Pauline Clark, et al

Margaret Akins ("Plaintiff") stood to inherit a farm and stock from her close friend, Josephine A. Notgrass ("Notgrass"), through specific bequests ("Bequests") in Notgrass' will. After Notgrass' will ("Will") was executed, Notgrass and Plaintiff formed a limited partnership ("Limited Partnership") in an effort to save estate taxes. Notgrass held a substantially higher interest in the Limited Partnership than Plaintiff and was the sole general partner. Notgrass transferred to the Limited Partnership the farm and stock which were the subject of the Bequests. After Notgrass' death, Plaintiff, who also is the personal representative of Notgrass' estate, filed a declaratory judgment action, seeking an order from the Trial Court regarding how to distribute the assets of the Limited Partnership. The Trial Court held that the transfer of the farm and stock to the Limited Partnership did not materially change or alter those assets, and, therefore, the transfer did not result in an ademption by extinction of the Bequests. As a result, the Trial Court held that Plaintiff was entitled to inherit the farm and stock pursuant to the Bequests. Fourteen of the twenty one named residuary beneficiaries ("Defendants") appeal. We reverse.