Coates v. Worthy
Mississippi Supreme Court
Prom the chancery court of Warren county. HoN. Claude Plntard, Chancellor. Thomas P. Coates died without widow or children surviving him. He had a policy of insurance on his life for $2,000, payable to his executors or administrators. By his will he gave the proceeds of this insurance, together with other property, to appellee, Belle V. Worthy, who was also named as executrix of the will, and qualified as such.
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Prom the chancery court of Warren county. HoN. Claude Plntard, Chancellor. Thomas P. Coates died without widow or children surviving him. He had a policy of insurance on his life for $2,000, payable to his executors or administrators. By his will he gave the proceeds of this insurance, together with other property, to appellee, Belle V. Worthy, who was also named as executrix of the will, and qualified as such. Appellants, as creditors of the decedent, filed this bill to subject the insurance money in the hands of appellee for the payment of their debts. Defendant demurred to the bill, the…
1Opinion of the CourtWoods, J.
In the case of Yale v. McLaurin, 66 Miss., 461, §1261, code 1880 (now § 1964, code 1.892), was held to be designed *578to secure to the beneficiary of a life insurance policy the proceeds thereof, freed from liabilities for the debts 5f another by whom the premiums have been paid, but that when the beneficiary has paid the premiums, and the proceeds of the insurance are sought.to be subjected to his debts, the statute has no application. That section is in these words: ‘ ‘ The proceeds of a life insurance policy, to an amount not exceeding ten thousand dollars upon any one life, shall inure to…
2Cases cited1 opinion
- Yale & Bowling v. McLaurinMississippi Supreme Court · 1889
3Cited by1 opinion
- Hiserodt v. HamlettMississippi Supreme Court · 1896