In January 2012, Andrew B. sued his estranged wife, Lucy, alleging that she unilaterally withdrew funds from a joint annuity, leaving him with substantial tax liabilities.
When Lucy asked that the case be dismissed, the Nassau County Supreme Court denied that request and sided with Andrew.
On appeal, the Appellate Division, Second Department, wasn’t convinced by Lucy’s contention that Andrew “assumed the risk” by entering into the annuity contract with her. (Specifically, the AD2 explained that the “assumption of risk” doctrine can only be used in tort cases -- like those involving athletic or recreational activities.)
Safe to assume that defense didn’t work out for her.
To view the Appellate Division’s decision, please use this link: B. v. Lincoln Fin. Corp.