Goldstein Estate

Nelson, P. J.,

In 1931, Joseph Goldstein (hereafter referred to as Goldstein) pur*607chased an annuity contract from the Equitable Life • Assurance Society of the United States. At the time of his death, the beneficiary was his daughter, Patricia D. Goldstein. The policy had been assigned by Gold-' stein to the Central-Penn National Bank of Philadelphia as security for an indebtedness, amounting, at the time of his death, to $49,974.50. After Goldstein’s death, the bank surrendered the policy to the insurance company, and Collected its indebtedness. There is a balance of $1,702.68 admittedly…