Matter of Estate of Devine

MILLER, Judge.

David H. Devine, Jr. died owing $170, 000.00 to Star Financial Bank for a loan that was secured by a mortgage on his mortuary. He had also given Star Bank a general assignment of his life insurance policy that named his sister, Carolyn Devine-Ellis, beneficiary. Apparently, the assignment was additional collateral for the mortgage which pre-existed the assignment. 1 Appellant's Brief p. 4. After his death, Star Bank elected to collect the policy proceeds of $41,-475.00. The administrator of David's estate then sold the mortuary for $240,000.00. Of this amount, $138,424.30 was…