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Fidelity Life Association v. Amstutz

United States District Court, E.D. Michigan, Southern Division

January 3, 2017

Fidelity Life Association, Plaintiff,
v.
Logan Amstutz; and Paul D. Kolosci, as personal representative for the Estate of Janet L. Amstutz, Defendants.

          ORDER GRANTING CONSENT MOTION FOR JUDGMENT OF DISMISSAL, CREATION OF SUPPLEMENTAL NEEDS TRUST, AND FOR DISBURSEMENT OF REGISTRY FUNDS

          GEORGE CARAM STEE, H UNITED STATES DISTRICT JUDGE

         THIS MATTER comes before the Court upon the Consent Motion for Judgment of Dismissal, Creation of Supplemental Needs Trust, and for Reimbursement of Registry Funds of Defendants Logan Amstutz and Paul D. Kolosci, as personal representative for the Estate of Janet L. Amstutz. Understanding that, after negotiations, the parties have reached an agreement as to the disbursement of the benefits payable under the accidental death insurance policy issued on the life of Janet L. Amstutz (Policy No. 0100461011), the Court hereby orders the following:

         IT IS ORDERED that Plaintiff Fidelity Life Association is permitted to retain exactly Two Thousand Five Hundred Dollars ($2, 500) of the death benefits, plus interest, due pursuant to the accidental death insurance policy as reimbursement for attorneys' fees and costs incurred in initiating the present action;

         IT IS FURTHER ORDERED that Plaintiff Fidelity Life Association shall deposit the remaining benefits due, plus interest, pursuant to the accidental death insurance policy (the "Proceeds"), which proceeds total Two Hundred Sixty Thousand Six Hundred Dollars and Eighty-Five Cents ($260, 600.85), into the Court's Registry in accordance with Local Rule 67.1;

         IT IS FURTHER ORDERED that the Clerk shall accept for deposit into the Court's Registry Plaintiff Fidelity Life Association's payment of the Proceeds and shall promptly invest the same into an interest bearing account in accordance with Local Rule 67.1;

         IT IS FURTHER ORDERED that the Clerk may deduct from the account any fee authorized by the Judicial Conference of the United States;

         IT IS FURTHER ORDERED that once the Proceeds have been deposited by Plaintiff Fidelity Life Association, they shall be disbursed to the following persons-as attorneys for the respective parties-as payees, in the following amounts:

1) Timothy C. Krsak (Attorney for Paul D. Kolosci, Estate of Janet Amstutz) DOUGLAS, KOEPPEN & HURLEY (Payee) 14 Indiana Avenue, Suite 200 Valparaiso, IN 46384 Exactly Two-Thirds (2/3) of the Funds
2) William J. Perry (Attorney for Logan Amstutz) Interpleader Law, LLC (Payee) 9015 Bluebonnet Blvd. Baton Rouge, Louisiana 70810 Exactly One-Third (1/3) of the Funds

         IT IS FURTHER ORDERED that Defendant Logan Amstutz has irrevocably waived and relinquished any and all rights, title or interest that he may have had in, and to, accounts at Principal Funds, Inc. and Allianz High Five, and that his interest in those accounts are permanently terminated in favor of the Estate of Janet L. Amstutz;

         IT IS FURTHER ORDERED that a supplemental needs trust is hereby created pursuant to 42 U.S.C. § 1396p(d)(4)(A), and administered by designated trustee Smith Barner, to hold Defendant Logan Amstutz's portion of Proceeds, the terms of which are as follows:

(1) Name. This trust shall be known as the "LOGAN AMSTUTZ SUPPLEMENTAL NEEDS TRUST."
(2) Beneficiary. The beneficiary of this trust shall be Logan Amstutz. Logan Amstutz shall be the sole income beneficiary and sole principal beneficiary of this trust.
(3) Trustee(s). The Initial Trustee of this trust shall be Mr. Smith Barrier, (hereinafter referred to as 'Trustee"). Should the Initial Trustee be unwilling or unable to act as Trustee for any reason, including, but not limited to, unavailability, incapacity or death, then a Successor Trustee shall be appointed by Interpleader Law, LLC to act as trustee.
The Trustee, or any successor trustee, may resign by delivery via certified mail of thirty (30) days written notice of resignation submitted to the beneficiary or any court ordered guardian.
The successor trustee serving under this trust agreement, whether corporate or individual, shall have all of the title, rights, powers, and privileges granted to the initial Trustees named herein. In addition, the successor trustee shall be subject to all of the restrictions imposed upon, as well as all obligations and duties, both discretionary and ministerial, given to the initial Trustees named herein. No successor trustee is obligated to audit, examine or investigate the accounts, records or administration of any ...

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