Simonds v. Simonds
New York Court of Appeals
45 N.Y.2d 233 (1978)
Relevant factsFree
Under their separation agreement, Frederick Simonds was to maintain life insurance naming first wife Mary (plaintiff) as beneficiary, but he let those policies lapse and purchased new ones naming his second wife and daughter (defendants) instead; upon his death, his estate was insolvent and no policy named Mary, so she sued to impose a constructive trust on $7,000 of the new policy proceeds.
IssueFree
Whether the replacement of insurance policies defeats an equitable interest in an insurance policy.