Legal Question in Bankruptcy in Indiana

money

if you were in a chapter 7 bankruptcy case and received one thousand one hundred twenty five in group life insurance policy due to a death would it be exempt?


Asked on 1/13/04, 11:51 am

2 Answers from Attorneys
Eric Southward Southward & Haggard

Re: money

Unfortunately, there are so many variables that need to be known from your question, that I doubt any attorney on this list wants to answer it as written. I won't attempt to answer your question either, just to tell you that you must talk to your attorney because of the implications the insurance proceeds could have on your case.

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Answered on 1/13/04, 12:16 pm
C. David DuMond Law Offices of David DuMond

Re: money

IC 27-1-12-29 exempts group policies and proceeds from legal process. So -- yes, the $1125 a person receives as a death benefit on a group life policy is exempt. You need to be sure to inform your attorney so that the exemption can be properly claimed.

Click and read. http://www.in.gov/legislative/ic/code/title27/ar1/ch12.html

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Answered on 1/13/04, 2:27 pm


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