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    rikwoods's Avatar
    rikwoods Posts: 1, Reputation: 1
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    #1

    Mar 29, 2009, 10:01 AM
    Bankruptcy, life insurance ownership
    My mother is the owner of 3 life insurance polices on my father. My mother is going to file for bankruptcy. Can the ownership of polices be moved to one of her sons and be preserved for the family? How can these polices be protected?
    twinkiedooter's Avatar
    twinkiedooter Posts: 12,172, Reputation: 1054
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    #2

    Mar 30, 2009, 04:12 PM

    If ownership is going to be moved from your mother it needs to be done more than 6 months prior to filing otherwise it is considered an asset of your mother.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    Mar 30, 2009, 05:54 PM

    Also how much equity is there,
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