Cooper v. D'Amore, No. 17-1442 (1st Cir. 2018)Annotate this Case
The First Circuit reversed the district court’s grant of summary judgment for Plaintiffs in this alleging that certain assets should have been distributed to the estate of the decedent in this case, holding that the district court improperly granted summary judgment for Plaintiffs.
In 2003, the decedent established an individual retirement account (IRA) with Mesirow Financial (Mesirow IRA) and designated Alyssa Jane D’Amore, his then-wife, as beneficiary. The couple divorced, but the decedent never revoked the beneficiary of the designation. The decedent later transferred the majority of his Mesirow IRA assets to a TD Ameritrade IRA. Upon the decedent’s death, Mesirow distributed the remaining assets in the Mesirow IRA to D’Amore. Plaintiffs, the primary beneficiary of the decedent and the executor of the decedent’s estate, filed suit against D’Amore, alleging that the Mesirow assets should have instead been distributed to the decedent’s estate. The district court granted summary judgment for Plaintiffs. The First Circuit reversed and remanded with directions to enter summary judgment for D’Amore, holding that because a request to transfer all assets was never made, the beneficiary designation was never revoked and D’Amore was entitled to the remaining assets in the account upon the decedent’s death.