Legal Question in Civil Litigation in California

asset protection of insurance proceeds

Are proceeds from a life insurance policy exempt from lawsuits/creditors in California? Up to a certain amount? What about 401K proceeds? I have inherited some money and want to set up my finances accordingly. In other words, is this money safe or do I need to consider asset protection planning? Any information greatly appreciated.


Asked on 9/24/00, 10:53 pm

1 Answer from Attorneys
Ken Koury Kenneth P. Koury, Esq.

Re: asset protection of insurance proceeds

I don't know offhand about life insurance proceeds but 401 K plans and other retirement benefits such as IRA's are protected from creditors.

Read more
Answered on 11/30/00, 4:50 am


Related Questions & Answers

More General Civil Litigation questions and answers in California