(DOWNLOAD) "Parry v. Parry Et Al." by Supreme Judicial Court of Massachusetts " Book PDF Kindle ePub Free
eBook details
- Title: Parry v. Parry Et Al.
- Author : Supreme Judicial Court of Massachusetts
- Release Date : January 12, 1944
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 63 KB
Description
DOLAN, Justice. This is a report by a Judge of a Probate Court of his action in sustaining demurrers to the petition of W. Alden Parry, and in entering a decree dismissing the petition as to the respondent insurance company. See G.L.(Ter.Ed.) c. 215, § 13. Material allegations of the petition may be summed up as follows: On January 23, 1934, the respondent Robert A. Parry and another, who has since resigned, were appointed guardians of the petitioner as an insane person. On or about November 22, 1933, the petitioner had purchased from the respondent The Travelers Insurance Company a written annuity contract, paying therefor $25,000. The beneficiaries designated in the contract other than the petitioner annuitant were Robert E. Parry, John E. Parry, Susan E. Parry and Margaret P. Chapman, cousins, 'in equal shares and to the survivors or survivor of them.' (These persons were made parties respondent by amendment allowed by the Judge.) Shortly after the appointment of the guardians of the petitioner he was compelled to deliver to the respondent Robert A. Parry as guardian the annuity contract, and the latter has retained possession of it ever since. Under the terms and conditions of the contract, the petitioner subject to the right of an assignee has the right to execute a change of beneficiaries at any time during the continuance of the contract to take effect only when such change shall have been approved in writing by the respondent insurance company. No assignment of the contract was ever executed, and no person except the respondent guardian has acquired any interest in or to the annuities payable under the contract. Under the terms of the contract, which is incorporated in the petition by reference, if the petitioner should die before receiving all the payments provided for in the contract, the remainder thereof, commuted into one sum on the basis of compound interest at the rate of four per cent per annum, is payable to the beneficiaries as hereinbefore set forth. The petitioner further alleges that he wishes to execute a change of beneficiaries by striking out those now named in the contract; that in order to do so it is necessary for him to cause the contract to be delivered to the insurance company together with an appropriate document to be signed by him and by his guardian; that he (the petitioner) is 'mentally competent at almost all times, if not at all times, to execute said change of beneficiaries'; that he has executed such a change (on June 15, 1937) when he was mentally competent to do so, and is willing to execute any further paper or document that may be necessary or proper for that purpose 'at any time when he is mentally competent'; that he has requested his guardian to deliver the contract to the insurance company and to sign such documents as may be necessary to effect the change of beneficiaries, but he refuses to do so; and that he has requested the respondent insurance company to approve the change of beneficiaries in writing and to permit him to effect the change, but that it refuses to do so, 'except by order of the court.' The prayers of the petition are (1) for a determination that the petitioner was mentally competent to execute the change of beneficiaries at the time of signing the request and that his act in so doing is legally valid and effective, (2) that his guardian be ordered to deliver the contract to the insurance company and to sign such papers as may be necessary or proper to put into legal effect the change of beneficiaries, (3) that the insurance company be ordered to approve in writing the change of beneficiaries, and (4) for such further relief as may seem meet and proper.