The sale of an asset by a successor trustee does not cause ademption

A father created a self-trusteed revocable trust which made specific gifts of stock in a closely held corporation to his two sons.  After the father was adjudged to be incapacitated, the court appointed a professional conservator who was then appointed as the successor trustee. 

The successor trustee sold the assets of the corporation.  The court in Brown v. Labow, 69 Cal. Rptr. 3d 417 (Cal. Ct. App. 2007), held that the gift of the stock was not adeemed by the sale because there was no evidence that the settlor intended an ademption in these circumstances and that the conservator had no authority to revoke the gift of stock without court approval.