Joseph G. Rulo v. Sidney Rubin, Trustee

The matter before us involves a question of statutory interpretation.

The facts are stipulated: Appellant Rulo filed voluntarily in bankruptcy and was adjudicated a bankrupt on October 16, 1970. The controversy concerns policies of insurance on Rulo’s life. During his marriage to Barbara Jean Rulo she was the beneficiary of each policy. Following the divorce of the parties, however, and prior to bankruptcy, the three minor children were named as beneficiaries. The trustee in bankruptcy petitioned in the bankruptcy court to collect the cash surrender value of the policies and prevailed, over…