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Unifi stock or in any of decedent's other assets. The Deed of
Separation also contained provisions regarding maintenance and
future sale of the marital home and the payment of debts, the
children's educational expenses, and income taxes.
Paragraph 12 of the Deed of Separation provided in regard to
certain life insurance policies on decedent's life as follows:
LIFE INSURANCE: Mr. Lineweaver has various policies of
life insurance, upon which Mrs. Lineweaver and/or the
children are the beneficiaries. Mr. Lineweaver agrees
that he will not change the beneficiaries of said
policies, which shall be delivered to Francis B.
Lineweaver for safe keeping, until after he and Mrs.
Lineweaver are divorced. After the divorce, Mrs.
Lineweaver shall, until she remarries, remain the
beneficiary of life insurance policies providing
regular coverage (as opposed to double indemnity) in an
amount of not less than $100,000.00, with the
beneficiaries of the remaining life insurance policies
being the children, provided however that Mr.
Lineweaver has the right to designate someone other
than the children as beneficiaries of policies
providing regular coverage (as opposed to double
indemnity) of up to $100,000.00. Mr. Lineweaver, after
all the children have reached the age of twenty-one
(21) years, and Mrs. Lineweaver has remarried, may make
whomever he wishes the beneficiaries of any or all of
his life insurance.
During the course of preparing the Deed of Separation, Mr.
Frazier had revised certain provisions in response to the
parties' requests. In the early draft of the Deed of Separation,
the life insurance paragraph (then paragraph 11) did not provide
for Kathleen to remain a beneficiary of any of the husband's life
insurance after the divorce. The first two sentences of life
insurance paragraph 11 were essentially the same as in the final
version, but the third sentence (the "After the divorce"
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