Fidelity Trust Co. v. Union National Bank

Opinion by

Mr. Justice Linn,

This is a bill by the administrator pendente lite of Harrison Nesbit, deceased, to subject $755,655.02, the net proceeds of certain life insurance policies on Nesbit’s life, to the claims of his creditors. The right of plaintiff 1 to file the bill is not questioned.

The defendants are (1) trustees who hold the proceeds pursuant to unfunded insurance trust agreements; (2) decedent’s wife and three children, beneficiaries named in those agreements; and (3) Ohio National Bank of Columbus, ultimately dismissed as a party. The decree awarded to plaintiff part of the sum…