Can a beneficiary’s creditor take life insurance proceeds to satisfy a judgement?

Get Legal Help Today

 Secured with SHA-256 Encryption

Can a beneficiary’s creditor take life insurance proceeds to satisfy a judgement?

Trying to help my mother. She’s 74 and on social security/retirement income. Named benficiary on Stepfathers life ins. She has a judgement against her from credit card company several years ago. Started out at about 3K but has now grown to over 8K (assuming interest is accumulating). When her stepfather passes, can they take money from the life insurance proceeds?

Asked on July 22, 2012 under Bankruptcy Law, Oklahoma

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Yes, they can attach the proceeds if they are deposited in to an account that they can levy on.  She needs to speak with some one asap about trying to settle or extinguish the debt NOW and before he passes.  This way it is not an issue at all.  Good luck.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption