In Donnelly v. Donnelly, a widow sued her deceased husband’s son for failing to change the beneficiary designation on the husband’s IRA to name her. No. 14-21-00592-CV, 2022 Tex. App. LEXIS 7615 (Tex. App.—Houston October 13, 2022, no pet. history). The IRA account had the husband’s three sons listed as beneficiaries. The widow alleged that the husband told his son, who was his financial advisor, to change the beneficiary designation, and the son said that he had done so. After the husband died, the widow discovered that the beneficiary designation had not been changed and sued for breach of fiduciary duty. The trial court granted the son a summary judgment, and the widow appealed.
Continue Reading Court Affirmed Summary Judgment For A Financial Advisor Due To The Dead Man’s Rule Arising From Claim That He Failed To Change A Beneficiary Designation