If a guardian of the estate sells or transfers any real or personal property that is specifically devised or bequeathed by the protected person or which is held by the protected person as a joint tenancy, designated as being held by the protected person in trust for another person or held by the protected person as a revocable trust and the protected person had the capacity to make a will or create the interest at the time the will or interest was created, but did not have the capacity to make a will or create the interest at the time of the sale or transfer and never executed a valid later will or changed the manner in which the protected person held the interest, the devisee, beneficiary or legatee may elect to take the proceeds of the sale or other transfer of the interest, specific devise or bequest.
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