Estate of Catherine E. Dowell, Deceased, Patricia Low, Executrix - Page 15

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          Under decedent's will, if the bequest to her daughter failed, the           
          stock would pass to the surviving spouse as the residuary                   
          beneficiary.  Since the surviving spouse had no insurance                   
          business experience, and was not licensed to sell insurance,                
          respondent argues that decedent would never have allowed her                
          husband to inherit 75 percent of the agency's stock.                        
               Respondent's alternative argument is that the language                 
          created a condition subsequent.  A condition subsequent under New           
          Jersey law would cause the stock to vest immediately in Patricia            
          Low but she would subsequently be divested of it if she failed to           
          make the payments.  Tizard v. Eldredge, 25 N.J. Super. 477, 481,            
          96 A.2d 689, 691 (1953).                                                    
               Respondent cites various New Jersey cases to aid in                    
          construing decedent's will.  New Jersey courts do not favor                 
          conditions in wills.  Parmentier v. Pennsylvania Co. for Ins.,              
          122 N.J. Eq. 25, 30, 192 A. 62, 65 (1937), affd. 124 N.J. Eq.               
          272, 1 A.2d 332 (1938).  However, if the testator's intent shows            
          that a condition is intended, then conditions subsequent are                
          favored over conditions precedent.  Id.  Respondent also points             
          out that if the language in question created a condition                    
          precedent, as petitioner contends, then the stock ownership could           
          have been in limbo for 10 years had Patricia Low made the                   
          payments, a situation that decedent would not have intended.                
          Respondent cites Tizard, which states:  "Where there is a                   
          prolonged period of time prescribed by the words of the bequest             




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