Spencer v. Estate of Spencer

Opinion of the Court by

Justice ABRAMSON.

This is a declaratory judgment action to determine the ownership of a brokerage account. The action was brought on behalf of the estate of Charles Spencer, a resident of Paducah who died testate on February 10, 2006. The estate, represented by Pamela Adkins, Mr. Spencer’s daughter by his first marriage, filed suit against Lila Faye Spencer, Mr. Spencer’s second wife and his widow (Faye). The trial court ruled that the brokerage account was a joint account with the right of survivorship and that upon Charles’s death it passed entirely to Faye. The Court…