Hayes v. Hayes

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A husband died, naming his niece and nephew as beneficiaries to his Individual Retirement Account, rather than his wife. The wife declaratory judgment action, arguing that the beneficiary designation should be declared void under 14 V.S.A. 321 and that the IRA funds should pass through husband’s estate. The trial court granted summary judgment to defendants, concluding for several reasons that wife was not entitled to relief under section 321. The Vermont Supreme Court agreed with the trial court that section 321 did not apply here because wife took under husband’s will rather than electing her statutory share of his estate. View "Hayes v. Hayes" on Justia Law