Matter of Estate of Cole

HABHAB, Presiding Judge.

Elwood T. Cole died testate in January 1965. He was survived by his wife, Irma, and three sons, Ralph, James, and Carroll. According to Elwood’s last will and testament, Irma was granted a life estate in all of Elwood’s real property, with a remainder interest to the three sons. The will additionally provided James and Carroll were to have the option of purchasing eighty acres of specifically identified farm land. This option clause further provided the option must be exercised within six months after termination of the life estate, and if either one declined to…