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Cosby v. Hays

March 13, 1953

COSBY ET AL.
v.
HAYS ET AL.



Duncan

DUNCAN, Justice. This appeal is from a judgment of the Clark Circuit Court affirming a judgment of the Clerk County Court which appointed appellees, J. Smith Hays, Sr., and J. Smith Hays, Jr., as coadministrators with the will annexed of the estate of Iva Coy Hays, deceased. Her nieces and nephews, as devisees, and her brothers, as heirs at law, are the appellants.

The deceased, Iva Coy Hays, married J. Smith Hays, Sr., in 1919, and the parties resided together in Winchester, Kentucky, at the home of the husband until her death in 1951. No children resulted from this marriage, but J. Smith Hays, Sr., had several children as a result of a previous marriage. In 1928 or 1929, deceased received an inheritance of approximately $30,000 from the estate of her father. The investment of this fund was handled principally by J. Smith Hays, Sr., who made and changed investments and drew checks on his wife's account for that purpose. In 1944, decedent made a holographic will which provided as follows:

'I want all of my investments, dived equaly between may nieces and nephews

Iva Coy Hays'

On the same paper and preceding the will was the following list of investments prepared at the direction of Iva Coy Hays by one of her nieces:

'Iva Coy Hays List

Invested in this house where it was built -- $3,000.00

50 Shares of Louisville Gas and Electric no par stock Class

'A' $2,157.50

20 Shares Winchester Building and Savings Assn. -- $2,000.00

5 Bonds E. M. Glass 1st Mort. $6,005.83

8 U. S. Bonds due 1950 $8,000.00

5 Dan H. Lovell Inc. 5% Bonds $5,000.00

5 Stratton & Terstegge Co. 1st Mort. 4 3/4% Bonds ...


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