Can Creditors Access Life Insurance Proceeds?

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    David RacichPRO
    Fountain Hills, Arizona
    Every state has differing rules on creditors. Most exempt life insurance death benefit proceeds from the claims of creditors. Creditors generally do not hold a position before the beneficiaries of a life insurance policy on benefits paid out. The policy beneficiaries receiving proceeds just before filing chapter seven and six months after may be ruled as property of the bankruptcy estate. Consult your bankruptcy attorney before relying on any information in this post.
     
    Answered on June 19, 2013
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