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Pedron v. Olds, 193 Ark. 1026, 105 S.W.2d 70

Facts

J. F. Pedron held two life insurance policies, each for $2,000, with his wife, Mrs. J. F. Pedron, as the beneficiary. After suffering a stroke and living separately from his wife, he executed a will that bequeathed his personal property, including the life insurance policies, to his daughter. The appellant claimed ownership of the policies, arguing that she was the designated beneficiary, while the executor contended that the will changed the beneficiary.

J. F. Pedron held two life insurance policies, each for $2,000, with his wife, Mrs. J. F. Pedron, as the beneficiary. After suffering a stroke and living separately from his wife, he executed a will that bequeathed his personal property, including the life insurance policies, to his daughter. The appellant claimed ownership of the policies, arguing that she was the designated beneficiary, while the executor contended that the will changed the beneficiary.

Issue

Did the will have the effect of changing the beneficiary of the life insurance policies?

Did the will have the effect of changing the beneficiary of the life insurance policies?

Rule

The insured may change the beneficiary of a life insurance policy by a valid will, even if the policy provides for a specific method of changing beneficiaries.

The insured may change the beneficiary of a life insurance policy by a valid will, even if the policy provides for a specific method of changing beneficiaries.

Analysis

The court analyzed the provisions of the life insurance policies, which allowed the insured to change the beneficiary without the consent of the current beneficiary. It concluded that since the beneficiary had no vested interest during the insured's lifetime, the insured's last expression of intent, as reflected in the will, should control the distribution of the policy proceeds.

The court analyzed the provisions of the life insurance policies, which allowed the insured to change the beneficiary without the consent of the current beneficiary. It concluded that since the beneficiary had no vested interest during the insured's lifetime, the insured's last expression of intent, as reflected in the will, should control the distribution of the policy proceeds.

Conclusion

The court affirmed the lower court's decision, ruling that the will effectively changed the beneficiary of the life insurance policies.

The court affirmed the lower court's decision, ruling that the will effectively changed the beneficiary of the life insurance policies.

Who won?

W. H. Olds, executor, prevailed because the court found that the will changed the beneficiary of the life insurance policies, overriding the previous designation.

W. H. Olds, executor, prevailed because the court found that the will changed the beneficiary of the life insurance policies, overriding the previous designation.

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