Wornick v. Gaffney

Pre 2005-Act: 
Pre 2005-Act
Ruling: 
Debtor spouses' interests in reciprocal life insurance policies were inchoate and not subject to administration.
Procedural posture: 
Appellant spouses sought review of an order of the United States District Court for the Western District of New York affirming the bankruptcy court's order sustaining appellee trustee's objection to the spouses' claim that the cash surrender values of whole life insurance policies that each spouse held for the benefit of the other were exempt from the joint administration of their bankruptcy estates.
Issue: 
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Consumer case opionion summary, case decided on September 24,2008, LexisNexis #1008-062