Emmert v. Prade
Delaware Court of Chancery
711 A.2d 1217 (1997)
In 1964, Karl Franz made a will naming Michael A. Prade (defendant) as a residuary beneficiary. In 1985, Franz designated Prade as the beneficiary of his pension plan and his life-insurance policy. In 1993, Franz decided to disinherit Prade. Franz executed a new will removing Prade as a beneficiary, but he failed to change the beneficiary designations for his pension plan or his life-insurance policy. After Franz’s death, Mack Emmert (plaintiff), executor of Franz’s estate and a residuary beneficiary under Franz’s 1993 will, filed a petition to reform the life-insurance and pension-beneficiary designations. Arguing that Franz’s failure to change the beneficiary designations was the result of a mistake, Emmet requested the court to make the estate the beneficiary of the two assets. Prade moved for summary judgment.
Rule of Law
Holding and Reasoning (Chandler, J.)
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