Nelson v. State Employees' Credit Union

DIETZ, Judge.

*448Shortly before he died, James Nelson called his account representative at the State Employees' Credit Union ("SECU") and told her he wanted to move $85,000 from his revocable living trust to a new account with only one of his three children as the beneficiary. The credit union prepared the paperwork for a statutory "Payable on Death" account to achieve Mr. Nelson's wishes. After his death, the credit union transferred *449the funds to Mr. Nelson's daughter, whom he had identified as the beneficiary of the Payable on Death account.

Mr. Nelson's other two children then sued, arguing,…