In re Shoemaker

Citations

• 225 F. 329
• 1915 U.S. Dist. LEXIS 1262

Syllabus

<p>BAmciixirTCY <3=3143—Property of Bankrupt—Insurance Policies.</p> <p>Policies upon the life of a bankrupt, providing that the insured might at any time, by written notice to the company, change the beneficiary, upon the indorsement of the same upon the policy by the company, named the bankrupt's daughter as beneficiary. Act Pa. April 15, 1868 (P. L. 103), declares that ail policies of life insurance which shall be taken out for the benefit ol‘, or bona fide assigned to, the wife or children of, or any relative dependent upon, the insured, shall be vested in the wife or children, or other relative, free from all claims of the creditors of the insured. Bankr. Act, July 1, 1898, e. 541, §• 70a (5), 30 Stal. 565 (Comp. St. 1913, § 9654), declares that the trustee of the estate of a bankrupt shall be vested with the title of the bankrupt to all property, which, prior to the filing of the petition, the bankrupt could by any means have transferred, or which might have been levied upon and sold. Helé, there was a mere designation of the bankrupt’s daughter as beneficiary of the policies, and hence, as the bankrupt could have changed the beneficiary, his trustee, and not the daughter, was entitled to the surrender value of such policy.</p> <p>I Ed. Note.--For other cases, see Bankruptcy, Cent. Dig. §§ 194, 201, 202, 213-217, 223, 224; Dec. Dig. <®=»143J</p> <p>other cayos see same topic & KlflY-NUMBEIt in all Key-Numbered Digests & Indexes</p>