Appeal Of Chryssikos. In Re Morris' Estate.
Decision Date | 26 September 1944 |
Citation | 39 A.2d 104 |
Parties | Appeal of CHRYSSIKOS. In re MORRIS' ESTATE. |
Court | New Jersey Prerogative Court |
Proceeding in the matter of the appeal of George J. Chryssikos from a decree of the Orphans' Court of the County of Bergen allowing the account of Katherine Morris, administratrix of the estate of Peter Morris, also known as Panagiotis Andrew Anastasopoulos, deceased.
Appeal dismissed.
See, also, 133 N.J.Eq. 528, 33 A.2d 353.
1. A valid gift of a policy of insurance may be made by delivery of the policy, even though the policy provides that a change of beneficiary shall be made only by formal change of beneficiary on the books of the Insurance Company.
2. In the instant suit, held, finding of the Orphans' Court that the insured made a valid gift to his wife of an insurance policy by its terms payable to his estate has been fully sustained by the evidence.
George F. Losche, of Hackensack, for appellant.
Sher & Sher, of Rutherford (Sydney Sher, of Rutherford, of counsel), for respondent.
LEWIS, Vice Ordinary.
This is an appeal from an Order of the Bergen County Orphans' Court overruling certain exceptions to the account and passing the account as filed as correct. The account was filed by the widow of decedent and set forth that she received no property or assets whatever of the estate. Shortly after her appointment as administratrix a will of decedent, dated 1931, was found and was duly probated, and appellant was appointed administrator with the will annexed. Under this will the widow received nothing. Appellant filed exceptions to the account filed by the widow on the ground that it failed to charge her with the sum of $12,252.47; the proceeds of an insurance policy paid to the widow. The only substantial question on this appeal is as to whether appellant is entitled to the proceeds of this policy, which was payable to the insured's executors or administrators, or whether decedent made an effective gift of the policy to his widow, so as to give her the right to collect, the proceeds. At her the right to collect the proceeds. At it was found that the gift to the widow was valid, and that, accordingly, the proceeds of the policy did not become part of decedent's estate, and need not be accounted for by the widow as the original administratrix.
If the gift was valid there was no necessity for the widow to account for it. In Travelers' Insurance Co. v. Grant, 54 N.J.Eq. 208, 33 A. 1060, 1063, the Court states:
The policy in question was issued in 1928, payable to the estate of the insured. It provided for certain payments to the insured in case of his disability. In 1935 decedent left this country to return to Greece, where he remained until his death in 1940. Prior to his going to Greece, h...
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