Bankr. No.:
95-40368
Chapter:
7
Date of Decision:
December 20, 1995
Issue:
Whether under S.D.C.L. § 58-12-4 Debtor could claim as exempt his cash surrender value in a life insurance policy where his surviving mother was the beneficiary?
Ruling:
Under S.D.C.L. § 58-12-4, Debtor could claim up to $20,000.00 of the cash surrender value of a life insurance policy exempt. The statute did not require the beneficiary of the policy to be a spouse or child of the debtor.
Full Bankruptcy Court Decision:
