LeBlanc v. Wells Fargo Advisors, L.L.C.

{¶ 1} In this appeal, we resolve a conflict between the decisions of the Ninth District Court of Appeals and the Second District Court of Appeals concerning the effect of an individual retirement account (“IRA”) custodian’s filing of an interpleader action against competing claimants. We hold that when the custodian of an individual retirement account files an interpleader action against the parties claiming to be the beneficiaries of the account, the custodian waives its contractual change-of-beneficiary procedures, and a person who proves that the owner of the account clearly intended to…