Pleasant v. Haynes

BY JUDGE CHARLES N. DORSEY

This case concerns the proper beneficiaries of two accounts of Kathleen Farmer Kelly, both of which were with the Eli Lilly Federal Credit Union (the “bank”), and were distributed after she died on April 5,2003. The question is whether the distribution of these funds was made properly.

The first account, a 401 (k) worth approximately $260,000.00, was distributed to Kelly’s brother, Harry Farmer, by Eli Lilly according to a third-party beneficiary designation. Farmer died shortly after Kelly, and the funds were further distributed to his testamentary beneficiaries, who…