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Life insurance policy at risk with a bankrupted estate?
My father passed away recently and name myself as the sole beneficiary to his life insurance policy. His estate is not worth anything when combined with his debt therefore we will be bankrupting it or letting the leinholder issue foreclosure and setting up the estate to bankrupt it. My question is can they come after me since I am the only one with any $? I've heard no from several sources but also heard that maybe they could.
Anyone know for sure? |
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If you are named as the beneficiary, no the money is not part of the estate and they can not come after that money.
Now can they try, of course they can always file and try, and hope you will just pay it out of fear, but no life insurance with a beneficiary is not part of the estate. |
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