Laws of New York (Last Updated: November 21, 2014) |
EPT Estates, Powers and Trusts |
Article 3. SUBSTANTIVE LAW OF WILLS |
Part 4. REVOCATION OF WILLS AND RELATED SUBJECTS |
Section 3-4.5. Insurance proceeds from specific disposition not subject to
Latest version.
-
ademption Where insurance proceeds from property which was the subject of a specific disposition are paid after the testator's death, such proceeds, to the extent received by the personal representative, are payable by him to the beneficiary of such disposition; and such proceeds retain the character of a specific disposition for all other purposes, including 12-1.2 and 13-1.3.