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Trust and trustee – Trust property. Court of Session: In an action which concerned entitlement to receive the proceeds of two life assurance policies held in trusts created by a Mr P and his late first wife, BP, the policies having become payable on Mr P's death and the defenders having made payment under both policies to a Florida attorney who was the personal representative of Mr P and his late second wife, the pursuers claiming that the personal representative had no title to receive the proceeds of either policy and seeking payment from the defenders of a sum representing the value of the policies at the time when the action was raised, and the court held that the foreign personal representative did not have title, in any capacity, to receive the proceeds of the policy settled in Mr P's trust, and the pursuers had title to sue in the present action for the proceeds of BP's policy.
Trust and trustee – Trust property. Court of Session: In an action which concerned entitlement to receive the proceeds of two life assurance policies held in trusts created by a Mr P and his late first wife, BP, the policies having become payable on Mr P's death and the defenders having made payment under both policies to a Florida attorney who was the personal representative of Mr P and his late second wife, the pursuers claiming that the personal representative had no title to receive the proceeds of either policy and seeking payment from the defenders of a sum representing the value of the policies at the time when the action was raised, and the court held that the foreign personal representative did not have title, in any capacity, to receive the proceeds of the policy settled in Mr P's trust, and the pursuers had title to sue in the present action for the proceeds of BP's policy.
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