LITTLETON, Judge.
Plaintiffs contend that no portion of the net proceeds of $148,364.86 of six life insurance policies taken out by the decedent upon his own life between March 10, 1925, and January 2, 1929, was includable in the gross estate of the decedent, Walter C. Bailey, who died May 26, 1933, for the reason that on July 20, 1932, the decedent, by an instrument in writing on that date, made an assignment of the policies to his wife establishing a change of beneficiaries...
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