Legal Question in Bankruptcy in Florida
My cousin's wife passed away in June and he was a beneficiary of a life insurance policy of $50k. He is filing Bankruptcy because his debts and medical bills are extreme. Will the $50k be taken by the court to pay his debtors or is the amount fully exempt? If not, he has not cashed the insurance check yet, what could he do?
Thank you.
Asked on 7/22/09, 1:42 pm
1 Answer from Attorneys
Carol Lawson
Carol A. Lawson, PA
It will be taken. He could waive his inhertance and have it pass to the next beniefic on the policy which hopefully are his kids.
Answered on 7/22/09, 1:53 pm
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