Sec. 6. If:
(1) a guardian sells or transfers during a protected person's lifetime property belonging to the protected person that is specifically devised to another in a will executed by the protected person;
(2) the protected person subsequently dies; and
(3) the devised property is consequently not contained in the protected person's estate following the death of the protected person;
the devisee may, at the devisee's option, elect to receive the value of the devised property, as valued at the time of death of the protected person, as a general devise or the proceeds of the sale or transfer as a specific devise.