Legal Question in Credit and Debt Law in California

Re: My credit card debt of 30k

I hope I am not being insensitive, but I hope you are not planning to die anytime soon. Good for you, however, to be planning in advance, as far too many people leave this sort of thing until it is too late. First, you should consult with an estate planning attorney on this issue. It is actually not an issue of credit and collections law, but rather an issue of how your estate will be distributed and your creditor claims paid. Without quite a bit more information, its hard to answer your question. Some of the information an attorney will need to give you an answer is whether you have a will or trust, do you have other surviving siblings, parents or children? Any ex-wives, etc... You need to address the whole issue of your estate rather than focus solely on the proceeds of the life insurance policy. Good luck - I'd suggest re-posting your question to estate planning/probate attorneys on this forum with some more detail about any estate plan you have at this point (will, trust or nothing).

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Re: My credit card debt of 30k

Generally, life insurance proceeds are not considered part of your estate, meaning your creditors have no right to claim any of the proceeds. Of course, as with anything else in the law, there are exceptions to this general rule, so you really should consult with an attorney like me who practices estate planning.

Re: My credit card debt of 30k

Not the insurace policy but the other assets. You may wish to deal with all aspects of your estate including durable power of attorney for health care decisions. Living Trusts and Wills are generally under $ 1K. Contact me directly.