Jason E. Pearl, Trustee in Bankruptcy of Herman Goldberg, A.K.A. Hymy Goldberg v. Herman Goldberg, Bankrupt

CLARK, Circuit Judge.

Appellee, Herman Goldberg, having been adjudged a bankrupt on his voluntary petition, the bankruptcy referee granted the trustee’s petition to require him to transfer his interest in a life insurance policy to the trustee. This policy, which was called a “Limited Payment Annual Dividend Endowment Policy,” was issued in 1924 by the Mutual Trust Life Insurance Company. Originally the beneficiary was appellee’s sister, but he reserved the right to change the beneficiary on the policy; and he has exercised that right twice — once to make his wife the beneficiary, and a second…