What is the name of your state (only U.S. law)? Arizona
My father killed his wife, and then killed himself. His wife was the beneficiary of his life insurance policy, but there was a Living Trust for the rest of their assets.
His wife has 2 living relatives - her father and her brother. My father has children from his previous marriage (including myself), but they have no children together.
We are about to receive a substantial amount of money as the beneficiaries of his life insurance policy.
Is there any way her family can petition a court to include the life insurance settlement to be considered as a target for a potential wrongful death lawsuit? What about other creditors?
All information I can find indicate that once the policy is paid out, the assets belong to us children, and cannot be considered part of the estate. I have, however, received advice not to touch the money yet because there is a possibility (if a wrongful death suit is filed) that a judge could require the insurance money be given back to the estate.
My father killed his wife, and then killed himself. His wife was the beneficiary of his life insurance policy, but there was a Living Trust for the rest of their assets.
His wife has 2 living relatives - her father and her brother. My father has children from his previous marriage (including myself), but they have no children together.
We are about to receive a substantial amount of money as the beneficiaries of his life insurance policy.
Is there any way her family can petition a court to include the life insurance settlement to be considered as a target for a potential wrongful death lawsuit? What about other creditors?
All information I can find indicate that once the policy is paid out, the assets belong to us children, and cannot be considered part of the estate. I have, however, received advice not to touch the money yet because there is a possibility (if a wrongful death suit is filed) that a judge could require the insurance money be given back to the estate.