Question Asked...
I was reading your response to a life insurance question. My question is if you have paid up life insurance that has a cash value called whole life insurance is that something a trustee would want to take if you made an assignment for bankruptcy.
If you have a whole life policy that has an existing cash surrender value, if you file for bankruptcy this would be considered a non-exempt asset and something that your licensed trustee would be required to redeem.
For more information concerning why this would be necessary or an explanation of re-purchasing the equity from the estate you should contact a local trustee to review what would be expected in your area.