In re Estate of Davis

When singer Jim Reeves died, his wife, Mary Reeves Davis, inherited substantial property that generated an income of between $300,000 and $400,000 per year. Mary later became engaged to W. Terry Davis (plaintiff). Two days before the wedding, Mary presented Terry with a prenuptial agreement. Without consulting an attorney, Terry executed the agreement the next day. The agreement stated that the future spouses would retain their separate property and any income it generated. The agreement also stated that each spouse waived any rights to the other’s assets upon death. Further, the agreement stated that both Mary and Terry had disclosed their assets but that such disclosures did not purport to be all-inclusive and any values were estimates. Before the marriage, Terry’s assets were worth between $25,000 and $30,000. After over 30 years of marriage to Terry, Mary died. Her will bequeathed only $100,000 to Terry. Terry petitioned to instead receive an elective share of Mary’s estate, a statutory percentage that a spouse could ordinarily elect to receive instead of what the spouse would take under a decedent spouse’s will. The estate’s administrator and various heirs (defendants) claimed that the premarital agreement waived Terry’s right to an elective share. Terry countered that the agreement was unenforceable because he did not receive a disclosure of Mary’s assets before execution. Mary’s former secretary, Joyce Jackson, testified that she recalled typing up a list of assets but did not recall the list providing any values. Relying heavily on the agreement’s language, which stated that disclosures were provided, the trial court deemed the agreement enforceable. Terry appealed to the Tennessee Court of Appeals.