In the Matter of The Estate of William Barnard Pace: Kate Woodard Pace v. Kathryn Pace Phillips, Administratrix of the Estate of William E. Phillips, and Tom Pace, of the Estate of William Barnard Pace

Court of Appeals of Mississippi·Decided July 28, 2026·No. 2025-CA-00223-COA·Published

Opinion

IN THE COURT OF APPEALS OF THE STATE OF MISSISSIPPI

NO. 2025-CA-00223-COA

IN THE MATTER OF THE ESTATE OF APPELLANT WILLIAM BARNARD PACE: KATE WOODARD PACE

v.

KATHRYN PACE PHILLIPS, APPELLEES ADMINISTRATRIX OF THE ESTATE OF WILLIAM E. PHILLIPS, DECEASED AND TOM PACE, EXECUTOR OF THE ESTATE OF WILLIAM BARNARD PACE

DATE OF JUDGMENT: 02/21/2025 TRIAL JUDGE: HON. ROBERT GEORGE CLARK III COURT FROM WHICH APPEALED: MADISON COUNTY CHANCERY COURT ATTORNEY FOR APPELLANT: MICHAEL MADISON TAYLOR JR. ATTORNEYS FOR APPELLEES: G. TODD BURWELL JILLIAN ROCHELLE ETHERIDGE RICHARD ALLEN EISENBERGER JR. KENNETH B. RECTOR NATURE OF THE CASE: CIVIL - WILLS, TRUSTS, AND ESTATES DISPOSITION: REVERSED AND REMANDED - 07/28/2026 MOTION FOR REHEARING FILED:

EN BANC.

McCARTY, J., FOR THE COURT:

¶1. As a condition of their divorce judgment, a father agreed to carry a million dollar life

insurance policy in favor of his four children, with their mother to serve as trustee of the

money. But he did not hold up his end of the bargain. After his death, the mother discovered

there was only half the amount available, and she was cut out as trustee.

¶2. She probated a claim to enforce the judgment, which resulted in the children receiving the full amount due to them. But she was not made trustee. The trial court found her petition

to probate was satisfied.

¶3. She appeals, arguing she should hold the powers of trustee over her children’s money.

Finding error, we reverse and remand.

FACTS AND PROCEDURAL HISTORY

¶4. Kate and William Pace were married in 2000. They had four children during their

marriage.

¶5. About 16 years later, the couple mutually sought a divorce on the grounds of

irreconcilable differences. The Paces further entered into a “Child Custody and Property

Settlement Agreement.” Both parties signed the PSA and initialed each page.

¶6. The terms of their PSA required Will to maintain a life insurance policy worth a

million dollars for the benefit of the four children, and named Kate as trustee for the children:

Husband and Wife acknowledge and agree that Husband shall continue to maintain his life insurance policy on his life in the amount of $250,000 per child for the total sum of $1,000,000 with the minor children being named as the irrevocable beneficiaries and Wife being named trustee. . . . Husband/Wife each agree to maintain [a] life insurance policy with the other party being named trustee of same until said child turns Twenty-One (21) years old. In addition, Husband nor Wife shall not borrow against, encumber or hypothecate said policy.

Said total value(s) on each child shall remain in effect until each child has attained the age of Twenty-One (21), or until such time that all of the minor children have obtained their bachelor degree, whichever occurs first.

¶7. The following sentence was included toward the end of the PSA: “Husband and Wife

both understand and agree that this Agreement is made and entered into as a Mississippi

Contract, and this Agreement shall be binding and enforceable upon execution of the same.”

2 And, “Each party acknowledges and agrees that in the event either party is required to seek

relief from the [c]ourt to enforce this Agreement, then the defaulting party shall be

responsible for the non-defaulting party’s attorneys, costs and expenses associated with such

action.”

¶8. The chancery court officially granted Will and Kate a divorce in 2016 and

incorporated their PSA into the final judgment of divorce.

¶9. Kate discovered years later, only after his death, that Will violated the court’s final

judgment in at least three ways. First, he did not maintain life insurance in the amount of a

million dollars. Rather, his policy was for half that, only $500,000. Second, the children

were not named as beneficiaries on the policy, as was required. Instead, he named a new

entity called the William Barnard Pace Insurance Trust, that he created. Third, he did not

name Kate as trustee, like the parties had agreed. Instead, he named his brother Tom, and

expressly foreclosed naming Kate as the trustee.

The Opening of Will Pace’s Estate

¶10. Will died six years after their divorce, in 2022. His brother Tom was appointed

executor of his estate.

¶11. Shortly thereafter, a creditor probated a claim against the estate based on a prior

judgment. William Phillips had obtained a default judgment against Will Pace in 2021, the

year before he died. The default judgment had been taken after Will failed to pay Phillips

back on a loan of over $550,000. The judgment was for $718,515.82, and also included 8%

interest until it was paid. Over $168,000 was for interest and a 10% penalty contained in the

3 promissory note.

¶12. Kate, “individually and on behalf of the Pace Children,” then filed a “Petition to

Construe, Modify, and/or Reform the William Barnard Pace Life Insurance Trust 2022,” in

the Pace Estate. Her petition was later amended. Kate’s amended petition claimed that she

was “the rightful trustee” of the Trust and alleged that “[t]he Trust is to continue for the

benefit of the minor children” of her and Will.

¶13. In the amended petition, she alleged, “However, a potential legal issue has arisen with

respect to the naming of the Trustee.” She argued she should have been named Trustee per

the final judgment of divorce and the terms of their incorporated PSA. She sought for the

Trust to be reformed since Will “was in violation of the previous Order of divorce” and she

was not named as trustee.

¶14. She also claimed it should be reformed since “[u]pon information and belief: the trust

is only funded in the amount of $500,000.00 which is only half of the amount required under

the Final Judgment of Divorce.” Crucially, Kate argued that since the Trust did not name her

as trustee, “said items should be deleted from the Trust.”

¶15. Her prayer for relief asked “that the [c]ourt modify or reform the Trust to appoint [her]

as trustee,” and “empower the Trust to immediately file a proof of claim for $500,000.00 to

fully fund this trust, and that attorney’s fees for the modification . . . be assessed to the trust

and/or trustee.”

Probating the Two Claims Against the Pace Estate

¶16. William Phillips and Kate Pace both battled Will Pace’s Estate to probate their claims.

4 (During the litigation, Phillips passed away, and his estate was substituted). Phillips sought

to attack Kate’s claims, attempting to limit what she could seek to $500,000. Ultimately, the

two parties’ claims were both competing with the comparably limited assets of the Estate.

¶17. The Pace Estate subsequently made payments to the parties pursuant to an agreed

order to resolve their claims. The agreed order noted that by agreeing to the order, the parties

did not “waive or release any claim or defense . . . including, but not limited to, the right to

contest any claim filed herein or contend that any claimant has . . . received all to which said

claimant is entitled[.]”

¶18. Phillips received partial payment of his probated claim totaling $477,618.40, or a little

more than half of the amount he sought.

¶19. The Pace Estate then divvied up $500,000 to the four Pace children. One of the four

was an adult by then and received a payment of $125,000.00. The other three children were

still minors so $375,000 was paid into conservatorship accounts for their benefit.

¶20.

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In the Matter of The Estate of William Barnard Pace: Kate Woodard Pace v. Kathryn Pace Phillips, Administratrix of the Estate of William E. Phillips, and Tom Pace, of the Estate of William Barnard Pace, (Mich. Ct. App. 2026).

In the Matter of The Estate of William Barnard Pace: Kate Woodard Pace v. Kathryn Pace Phillips, Administratrix of the Estate of William E. Phillips, and Tom Pace, of the Estate of William Barnard Pace (In the Matter of The Estate of William Barnard Pace: Kate Woodard Pace v. Kathryn Pace Phillips, Administratrix of the Estate of William E. Phillips, and Tom Pace, of the Estate of William Barnard Pace) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

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