Barnett v. King

EDMUNDS, Judge.

Plaintiffs mother died on 26 February 1992. In her will, plaintiffs mother bequeathed insurance benefits under her Teacher’s Insurance and Annuity Association’s College Retirement Equity Fund account (TIAA-CREF) to defendant, who is plaintiffs stepfather. Plaintiff, however, was the named beneficiary of the insurance policy. In order to honor her mother’s wishes, plaintiff, in July 1992, voluntarily endorsed over to defendant TIAA-CREF benefit checks totaling $303,988.36. Defendant used the insurance proceeds to purchase land in Pinehurst, North Carolina. At the time, plaintiff…