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WOLFE v. MID-CONTINENT CORPORATION

435 S.W.2d 836 (1968)

William B. WOLFE, Jr., Teresa Wolfe, Elizabeth Wolfe, James Wolfe, Thomas Wolfe and Catherine Wolfe, Minors v. MID-CONTINENT CORPORATION and the Estate of William B. Wolfe, Deceased.

Supreme Court of Tennessee.

December 20, 1968.

Attorney(s) appearing for the Case

George E. Morrow and James C. Warner, Memphis, of counsel, Martin, Tate & Morrow, Memphis, for appellants.

Donald A. Malmo, Memphis, of counsel, Heiskell, Donelson, Adams, Williams & Wall, Memphis, for appellee, Mid-Continent.

W.L. Nichol, IV, Memphis, of counsel, Evans, Petree, Cobb & Edwards, Memphis, for appellee, Executor.

OPINION

BURNETT, Chief Justice.

William B. Wolfe and his wife were killed simultaneously in an automobile accident in 1961, leaving six minor children. Wolfe had some four or five insurance policies on his life which totaled in excess of $84,000.00 and which were payable to his children. Although the estate was insolvent it consisted of some $10,000.00 or $15,000.00 in assets which was enough to pay the death taxes and other taxes and certain administration...

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