Is Life Insurance Exempt From Creditors In Minnesota?

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    Peggy Mace
    Most of the U.S.
    Life insurance is exempt from creditors in Minnesota if the life insurance is left to a beneficiary other than the estate. If the life insurance goes to the estate (either on purpose or by default because all the named beneficiaries are dead), the money will go through probate, where creditors can collect on it. If the life insurance is left to a person, creditors cannot take it (unless perhaps the beneficiary was a co-signer to the Insured's debts).
    Answered on August 28, 2013
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