Are Life Insurance Proceeds Protected From Creditors?
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- Опубліковано 4 вер 2020
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When a deceased was the insured on a life insurance policy, some estate representatives, heirs, and insurance policy beneficiaries worry that the life insurance proceeds must be used to satisfy the creditors of the estate, the insured, or the beneficiary.
If you are concerned that life insurance proceeds will have to be used to pay debts, then you should check the applicable state's insurance exemption statutes. Perhaps it will be a good idea to avoid commingling insurance proceeds with funds in the estate or funds owned by the beneficiary.
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Paul Rabalais
Estate Planning Attorney
Hi. Can you do a video on how to protect your life insurance from being taken by nursing homes. Is there a way to not have them take it?
would the beneficiary's inherited money be protected from money owed to the IRS ?
Good well explained ( 1st )
Can Medicaid have a stake in a life insurance policy IF the deceased spent significant time in a LTC facility?
Your videos are very informative and helpful. However, with all due respect, since the subject matter is ‘estates’, don’t you think any reference to “creditors” would be best served by using “alleged creditors”?
im so confused of whats best for ne to do by your videos and im not a typical situation... do u charge a min fee for a consult?