In 1995, Frances and Larnie Shaw, prepared a number of estate planning documents. One of the documents, a testamentary trust created by Frances, was known as “Credit Shelter Trust.” Larnie and Janice, one of the Shaws’ three daughters, were designated as co-trustees of the Credit Shelter Trust. The Shaws’ other daughters were Carolyn and Shirley… read more →
In this case, a surviving spouse’s claim to her deceased spouse’s life insurance proceeds was rejected by an appeals court in New Jersey because the deceased spouse named others as beneficiaries. Fromageot v. Fromageot, Docket No. A-1099-13T1 (App. Div., December 2, 2015) The decedent, Paul Fromageot (“Paul”), had two life insurance policies. One was a.. read more →
A New Jersey appeals court rejected a surviving spouse’s public policy argument to adopt a rule that marriage creates a “presumptive right” to a deceased spouse’s life insurance benefits when someone else was designated as the beneficiary of the policy, holding that the creation of any such presumptive right would have to come from the.. read more →
Thomas v. Thomas, Docket No. A-2388-11T2 (N.J. Super. App. Div. June 4, 2013), involved competing claims against a $1 million life insurance policy maintained by the decedent. Mr. Thomas was survived by a wife, as well as an ex-wife, with whom he had 2 children. Pursuant to the Property Settlement Agreement (“PSA”) between Mr. Thomas.. read more →
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