Reply to Anyone following this Candice Miller/Mama & Tata nightmare?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Could someone familiar with life insurance law chime in.  If the family receives the life insurance money, won’t creditors insist the money go towards Mr. Miller’s debts?[/quote]

No.  Life insurance claims pass outside the estate and go directly to the beneficiary and creditors have no claim.  She will get to keep. LI is meant to replace income.[/quote]

Is she has creditors then they can get the life insurance [/quote]

So it depends on whether she was personally liable for any of their debts. If she really didn’t know anything about their dire financial state, she probably wasn’t on those debts. [/quote]

How could she not be on them? Some of it is for the furniture she used daily. And they were married. Ignorance is not an excuse unless it's a separate business account.[/quote]

The premiums would be insane!

She didn't have an income other than maybe a trust but their assets (house, boat, potentially life insurance) are going to creditors. I imagine she will also need to pay taxes on the life insurance. [/quote]

Life insurance is not taxed[/quote]

Exactly. Do people not know how LI works?  Not taxed.  Not accessible to creditors.[/quote]

I knew it was not taxed, did not know about the creditors aspect. So what's to stop people from getting insurance on broke elderly relatives with debt, helping them in old age and they recouping the cost?[/quote][/quote]

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