by anitaanded1 » Tue Feb 24, 2009 06:49 pm
My mom has a judgment against her in Florida and the law firm is asking for information about her policy. Will she have to forfeit her policy amount ($7,000) to creditors upon her death?
Thank You!
Thank You!
Posted: Wed May 19, 2010 05:39 pm Post Subject:
Cannot be garnished
Posted: Tue Oct 15, 2013 12:11 pm Post Subject: life insurance in the state of florida
My father n law past away but owes student loans and medical bills along with credit cards bills. Can the creditors take that money from us or since we are the beneficiary to his life insurance policy they cant. From what I am undetstanding they can take the cash value but not the death benefit of 10,000.
Posted: Tue Oct 15, 2013 02:31 pm Post Subject:
Can the creditors take that money from us or since we are the beneficiary to his life insurance policy they cant.
If there is a NAMED beneficiary (one or more), then creditors of the decedent cannot have any portion of the life insurance proceeds. They may still have a claim against his estate, but not his life insurance proceeds.Posted: Fri Jul 04, 2014 07:29 am Post Subject:
If the owner dies, then the insurance proceeds become assets of the decedent's probate estate. A life insurance policy will have a designated beneficiary if decedent completed beneficiary designation form for the policy prior to the decedent's death.
Posted: Sat Jul 05, 2014 01:10 am Post Subject:
Plagiarism such as this is not tolerated, DavidMayo!
Posted: Sun Jul 21, 2019 10:53 am Post Subject: Question, same topic!
My student loans are in default as of beginning of this year. I found out by them taking my tax return which was supposed to be direct deposited! I've enrolled in the Rehabilitation program, and have paid $5 for 4 / 9 months so far. I have a life insurance check for 33k, I got the check and not direct deposit because i didn't want them taking it like my tax return. Well question is, if i go and deposit my money in my savings account, will the creditors/collectors or IRS take some of my money or all of it? Because technically my loans are in default for another 5 months until i'm done with the rehab program, but again, it also states while i am not out of default the very first day, further collection activities will stop once i have agreed to this program. Im confused, please help!
Thank you!
Posted: Tue Nov 12, 2019 12:39 pm Post Subject:
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