In Re the Accounting of Marine Trust Co.

Edmund Hayes took out five policies on his own life in the Equitable Life Assurance Society. Originally, four of them were payable to himself and one to his executors, administrators and assigns. He assigned all of them to bis wife. In the year 1895, at the request of husband and wife, the policies were altered so as to become payable to the wife, if living, and, if not, to the husband, his executors, administrators or assigns. Both stated in their letter to the insurance company requesting such alteration that the purpose was, in the event of the husband’s survival, that the policies should…