§ 37C. Satisfaction of Devise
37C. Satisfaction of Devise
(a) Property given to a person by a testator during the testator's lifetime is considered a satisfaction, either wholly or partly, of a devise to the person if:
(1) the testator's will provides for deduction of the lifetime gift;
(2) the testator declares in a contemporaneous writing that the lifetime gift is to be deducted from or is in satisfaction of the devise; or
(3) the devisee acknowledges in writing that the lifetime gift is in satisfaction of the devise.
(b) Property given in partial satisfaction of a devise shall be valued as of the earlier of the date on which the devisee acquires possession of or enjoys the property or the date on which the testator dies.