NSW Trustee and Guardian v Bensley

The case of NSW Trustee and Guardian v Bensley involved a dispute regarding the interpretation of a will and the effect of the sale of a specifically bequeathed asset during the deceased's lifetime. The deceased had bequeathed a specific parcel of land to a beneficiary in their will. However, during their lifetime, the deceased sold the land in question. The question before the court was whether the sale of the land resulted in the adeemed of the specific bequest, or whether the proceeds of the sale should be treated as part of the residue of the estate. The court was required to determine whether the change in substance of the asset due to its sale during the deceased's lifetime was sufficient to adeem the gift. The court found that the proceeds of the sale of the property should be dealt with as part of the residue of the estate rather than being adeems, and thus the specific bequest was not adeems by the sale of the property during the deceased's lifetime. The court's decision hinged on its interpretation of the concept of ademption and the effect of a change in the substance of an asset on a specific bequest. The court concluded that the sale of the property did not result in the adeems of the specific bequest, and that the proceeds of the sale should be treated as part of the residue of the estate. This decision provides guidance on the interpretation of testamentary dispositions and the effect of changes to the substance of an asset on specific bequests.