FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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Death and Bankruptcy

My wifes father recently passed away and had declared bankruptcy. He was 3 months into his payments and died of cancer. He had a life insurance policy that he has left for her mom, they separated 10 years ago – not divorced. Is this policy protected or is she going to have to hand it over to cover his bankruptcy?

Posted from: Nova Scotia

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One Response to “Death and Bankruptcy”

A licensed trustee said...

The beneficiary is only required to surrender life insurance if they have personally filed for bankruptcy. If your wife’s mother has not filed bankruptcy herself then she may keep the money.