In Stephenson v. Spiegle, Docket No. A-4193-11T2, the Appellate Division examined the issue of a contradicting estate, where the Decedent named his attorney the “pay-on-death” beneficiary of a bank account instead of funding a trust benefiting family members which was referenced in his Will. Here, the Decedent executed a Will on December 19, 2006 leaving his estate to family members or trusts for the benefit of family members.  The Will was prepared by Defendant.  Then, on February 2, 2007, the Decedent opened an account payable on death to Defendant. The Decedent died on December 19, 2007.  At the time of his death, the subject account held approximately one-third (1/3) of his estate.  The Executor discovered the account while marshalling the assets of the estate.  The Defendant took the position that the Decedent probably established the account to take the money out of the estate and denied any knowledge of the opening of the account. In its analysis of the matter, the trial judge first considered reformation which is largely dependent upon a mutual mistake.  Bonnco Petrol, Inc. v. Epstein, 115 N.J. 599, 608-09 (1989).  Thus, the trial judge searched further considering a constructive trust, probable intent, conversion and undue influence.  … Continue reading →