Rives v. Franklin Life Insurance

JOHNSON, Circuit Judge.

The plaintiff Mary Rives appeals from an order of the federal district court staying proceedings pending appointment of a successor trustee by a Mississippi chancery court. Finding Rives’ contentions on appeal compelling, we vacate the order of the district court and remand the case for further proceedings.

I

Prior to his death in 1981, Don Rives acquired two $600,000 life insurance policies, one from Franklin Life Insurance Company (“Franklin”) and the other from Equitable Life Assurance Society of the United States (“Equitable”). Both policies named Don Rives’ minor…