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Old 05-26-2009, 10:29 PM
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Join Date: May 2009
Posts: 1

Are life insurance proceeds excluded from bancrupty assests?

What is the name of your state (only U.S. law)? Florida
My wife died after a long illness, During her illness she could not work and we lived off credit cards and home equity loans. Now I'm wondering what to do. My question is if I file bancruptcy will the life insurance benefits be considered an asset or excluded?
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Old 05-26-2009, 10:39 PM
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Join Date: May 2001
Posts: 6,450
Looks like life insurance benefits are exempt if paid to a beneficary.

[url=http://www.bankruptcyinformation.com/FL_exemp.htm]Florida Bankruptcy Exemptions[/url]

Most bk lawyers give free or lowcost initial consultations. Speak with a few and see what they say.
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