Thanks for the help. Below is my final script I came up with that has been tested and works.
import arcpy
from arcpy import env
arcpy.env.overwriteOutput = True
env.workspace = r"M:\GIS Geodatabases"
arcpy.Copy_management("Cadastral.gdb", r"T:\pl\Planning Geodatabases\Cadastral.gdb")
print "Cadastral.gdb Copy Complete"
env.workspace = r"M:\GIS Geodatabases"
arcpy.Copy_management("Transportation.gdb", r"T:\pl\Planning Geodatabases\Transportation.gdb")
print "Transportation.gdb Copy Complete"
env.workspace = r"M:\GIS Geodatabases"
arcpy.Copy_management("AdminBoundaries.gdb", r"T:\pl\Planning Geodatabases\AdminBoundaries.gdb")
print "AdminBoundaries.gdb Copy Complete"