Smith v. Levy

The subject of this appeal is a judgment entered by the circuit court of Cook County holding that the bearer bonds in the decedent’s safe deposit box were an inter vivos gift to defendant. The issues on appeal are: (1) whether the trial court erred in finding that the decedent made a valid inter vivos gift to defendant; and (2) whether the joint tenancy of two accounts which defendant held with his parents was severed as to bearer bonds which were removed from the accounts and placed in a safe deposit box. We reverse.

Joe and Yetta Levy were the parents of Steven and Ira Levy, as well as the…