Gurnett v. Mutual Life Insurance

On December 2, 1930, Knowlton L. Ames entered into an agreement in writing with the Central Trust Co., predecessor of Central Republic Bank & Trust Co., which expressed the intention of creating a trust of the proceeds of a large number of insurance policies written on his life. An amendment to the writing was executed April 2, 1931, and a second amendment on June 25, 1931.

December 23, 1931, Ames died leaving a last will and testament which named his son, John D. Ames, and the Central Republic Bank & Trust Co. executors. The will was filed for record in the probate court of Cook county, and…