December 30th, 2007 by Questions
I`m a Federal Gov`t employee and have filed for personal bankruptcy. My supplementary death benefit will go to my brother (I signed him as beneficiary 5 years ago). Can the trustee take that benefit which I`ve assigned to my brother?
One Response to “Death Benefits”
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December 31, 2007 at 12:34 pm, A licensed trustee said:
If your supplementary death benefits have a “cash surrender value” then your trustee will be required to collect an amount equal to that value or they will be required to cash out the benefit.
If they have no cash value (which is likely the case) the benefit should not be affected by yoru bankruptcy.