Life Insurance

April 13th, 2006 by Questions

If declaring bankruptcy would life insurances in your name have to be disclosed if they are being paid for by another family member (who will benefit in the event of your death)?

Is it considered something that has to be disclosed if a family member takes over the payment of the life insurances prior to bankruptcy as they were the ones that started them for you when you were younger and now don’t want to see them lost during the bankruptcy?

Questions

One Response to “Life Insurance”



, Barton Goth, GCO Inc. Bankruptcy Trustees said:

This is a tricky area of insolvency law and it would be important to discuss this directly with a licensed trustee. Bring a copy of the existing policy so the trustee will be able to review the specifics and give you an informed opinion.

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