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IN RE DeROSEAR

No. 00-73091.

259 B.R. 320 (2001)

In re Perry C. DeROSEAR, Marcia D. DeRosear, Debtors.

United States Bankruptcy Court, C.D. Illinois.

March 12, 2001.

Attorney(s) appearing for the Case

Patrick J. Smith, Springfield, IL, for Debtors.

John L. Swartz, Springfield, IL, Chapter 7 Trustee.

OPINION

LARRY LESSEN, Bankruptcy Judge.

The issue before the Court is whether the Debtors may claim three life insurance policies which insured the lives of Debtors' adult children as exempt pursuant to 735 ILCS 5/12-1001(f).

The Debtors, Perry and Marcia DeRosear, filed a petition pursuant to Chapter 7 of the Bankruptcy Code on October 3, 2000. At the time of the filing, Mr. DeRosear owned three policies of life insurance which insured the lives...

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