3 Dec 2020
PLATT v TAYLOR [2020] NZHC 3186
- Citation
- [2020] NZHC 3186
- Court
- High Court
The court held that the insurance payment deposited into the deceased's NZCU Baywide account remained identifiable as the proceeds of the life insurance policy because the funds were not expended, comprised the bulk of the account, and were only minimally commingled; therefore the proceeds had not adeemed and $251,129.32 of the $254,358.26 are to be applied in accordance with clauses 5(iv) and 5(v) of the will to repay the testator's one-half share of the home loan and any surplus distributed to the named charities.