- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Term Life at age 64
Posted on 3/16/10 at 10:41 am to Chris4x4gill2
Posted on 3/16/10 at 10:41 am to Chris4x4gill2
quote:
If we leave things as they are w/ the life insurance, (her kids named benficiaries) would we be leaving them open to creditors trying to collect after their mothers death? By that I mean assets outside of their mothers estate.
That life insurance is not part of her estate since it has no cash value. It's not included and the creditors MAY come looking for it but it's been my experience that they have no legal grounds for capturing those assets.
I am not a legal or tax expert but I would get in touch with one.
2
Posted on 3/16/10 at 10:49 am to Broke
Thanks for the imput guys. I figure we will have to sit down with a pro soon. They (mom and daughters) met with a lawyer on the subject a while back, basically didnt come out of it with anything other than the bank gets the house at the end.
Posted on 3/16/10 at 11:12 am to Broke
quote:
That life insurance is not part of her estate since it has no cash value. It's not included and the creditors MAY come looking for it but it's been my experience that they have no legal grounds for capturing those assets.
It is if she named her estate the beneficiary.
If she named specific a individual(s) or trust as the beneficiary it will pass outside of probate and the creditors can not touch it.
This post was edited on 3/16/10 at 11:13 am
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News