Viva Capital Trust v. Garrett

Summary

The court held that the Estate's challenges to the Trust's validity were barred by the applicable one-year statute of repose because they were brought more than one year after Frank's death. It also held that the Policy complied with South Dakota's insurable-interest statutes because, when issued, its benefits were payable to the Trust and Jean, each of whom had an insurable interest, and the later transfer was permissible. The court affirmed summary judgment for Viva but reversed part of the taxable-cost award and remanded for review of potentially unauthorized deposition-related charges.