Goldring v. Franklin Equity Leasing Co.

Franklin Equity Leasing Co. (“Employer”) appeals from the trial court’s grant of summary judgment in favor of Louis N. Goldring (“Employee”) and Frank Sus-man, Trustee of the Goldring Family Irrevocable Trust dated November 24, 1998 (“Trust”), on their claim for declaratory judgment. We affirm.

Facts and Procedural History

On September 1, 1992, Employee and Employer simultaneously entered into a “Split Dollar Agreement” (the “Agreement”) and “Assignment of Life Insurance Policies as Collateral” (the “Assignment”). At the time these contracts were entered into, Employee was employed by Employer.…