Gray v. Bush

OPINION

MASSEY, Justice.

Dr. Billy N. Gray died on July 27, 1964. On January 20, 1964, the deceased had executed a revocable trust of the proceeds of two insurance policies in the Southwestern Life Insurance Company, hereinafter referred to as Policy A in the amount of $75,000.00, and Policy B in the amount of $25,000.00. The beneficiaries of the trust were the three children of the decedent, Peter, Michael, and Robin.

On date of his death Billy N. Gray was further insured by an insurance policy in the amount of $20,000.00, which we will call Policy C, the beneficiary of such policy being his…