Maggie Gaines, an elderly and infirm woman, maintained certain savings deposits and certificates in the Jefferson Federal Savings and Loan Association. During her lifetime, she had the name of her son, Billy Gaines, placed on the accounts along with her own. Her purpose in doing this was not to make a gift to Billy but to enable him to handle the funds for her support and benefit in the event she became incapacitated. Because of her deteriorating physical condition, she had to leave her residence and be cared for in Billy’s home. She stayed there about two years before being moved to a nursing home for about four months immediately preceding her death. 

During the time Maggie was living with Billy, he took control of and disposed of all the funds which were formerly on deposit at Jefferson Federal together with Maggie’s Social Security checks. Billy invested some of the funds in his own personal newspaper business and used some of the funds for Maggie’s support and maintenance. On Maggie’s death, her estate claimed that a constructive trust arose between Billy and Maggie whereby he was obligated to reasonably use the funds for Maggie’s benefit and to account for the balance. Did the placing of the son’s name on the mother’s account under these circumstances create a constructive trust?