Wheaton National Bank v. Aarvold

The appellant and appellees in this case are all claiming to be entitled, directly or indirectly, to the proceeds of a life insurance policy on the life of John O. Aarvold, Jr., and to the stock and cash due under a Sears Roebuck and Co. Savings and Profit Sharing Fund. Both the policy and the Fund fisted as the designated beneficiary the Wheaton National Bank as trustee under trust 1231 dated September 27,1967. In February, 1969, another trust agreement, given the same number, “revoked and terminated” the prior agreement and was substituted for it. The appellant contends that because of the…