Nature of the Case
To access this section all you need to do is click here and register.
Facts
Decedent died at the age of 90. The court admitted her will to probate and appointed P as executor thereof. P sought transfer of a $90,000 annuity to himself. D objected. P testified that he and his wife had been neighbors and social friends of decedent and her husband since 1975. Decedent's husband died in 1983; before his death, he asked Ps to look after decedent. In 1984, decedent asked P to take charge of her financial affairs. In 1984 and 1985, decedent signed durable powers of attorney prepared by her attorney, Robert Rose, designating P as her attorney in fact. Amberg managed decedent's financial affairs until her death. P was first paid $50 an hour, and later, $60 an hour, for his services to decedent. In March 1984, decedent executed a will and bequeathed her condominium and its furnishings to Montgomery, a long-term friend who assisted her as a companion. The residuary assets of the estate were to be distributed by formula to other beneficiaries. Decedent executed a codicil to her will, also prepared by Rose, adding specific bequests in favor of Montgomery and P. In August 1986, decedent executed a second codicil in the event Montgomery predeceased her. Decedent told Galloway, decedent's niece and a residuary beneficiary under the will, she wanted Montgomery and P 'to share in her assets equally.' In late 1989, P visited decedent to review her finances. He told her she had a $100,000 certificate of deposit maturing soon. Decedent told P she wished to purchase an annuity with the proceeds of the certificate of deposit and give it to him and that the annuity should only pass to him as her beneficiary. P testified the branch manager completed the application form for the purchase of the annuity, designating decedent as the owner of the annuity, P as the annuitant, and decedent's estate as the beneficiary. The first one or two monthly checks issued under the annuity were made payable to P. He endorsed the checks and deposited them in decedent's bank account. He instructed the company that had issued the annuity to issue future annuity checks to decedent. Thereafter, the checks were issued to decedent or her estate. After decedent's death, P learned the provisions of the annuity did not conform to decedent's wishes for its disposition following her death. P filed and served a notice of proposed action on the residuary beneficiaries, seeking their consent to the transfer of any interest of the estate in the annuity to himself. The court ruled for P and D appealed.
Support@ bsmsphd.com
Casebriefs Co