Testator Withdrew Money and Redeposited In Other Banks
Cases held that bequests of bank accounts at specified banks are not adeemed merely because the testator withdrew the amounts on deposit and redeposited them in other banks:
see, e.g., In re Estate of Hall, 60 N.J. Super. 597, 160 A.2d 49 (N.J. Super. 1960) (place of deposit merely descriptive of the things bequeathed, and therefore the removal of those things to another place is immaterial);
Cases in which gifts of corporate securities are held not adeemed by exchanges for other securities in the course of corporate reorganizations or consolidations or similar transactions, see, e.g., Johns Hopkins Univ. v. Uhrig, 145 Md. 114, 125 A. 606 (Md. 1924) (gift of stock identified in will as having been acquired by testator from his father's estate not adeemed when stock was recalled in corporate reorganization and replaced by bonds; testator's ownership of the bonds remained ultimately attributable to same origin as stated in will).
See also Cornwell v. Mount Morris Methodist Episcopal Church, 73 W. Va. 96, 80 S.E. 148 (W.Va. 1913), where the testatrix had bequeathed a certain sum described in the will as "coal money," a reference to the fact that it was derived from the sale of coal.
The court rejected the contention that the legacy adeemed because the form of the funds had changed from a deposit in a bank to an investment in municipal bonds.