Legal Question in Insurance Law in California

Life Insurance Payoff Attachable?

My mom just died and I have inherited money. The insurance company will be sending me a ''checkbook'' so to speak, from which I can write checks, drawing from this money. Is this money fair game to anyone who might have a lien against me, (I am negotiating with the IRS over a $ 3000 ''alleged'' debt resulting from taxes paid/unpaid while I was previously married)? If yes, I want to get to the bottom of this tax thing BEFORE this money is technically placed into my name thus avoiding the ability for the IRS to simply take it, and then me have to try to get it back (as if....). What do you think????


Asked on 11/24/04, 4:24 pm

2 Answers from Attorneys
Robert F. Cohen Law Office of Robert F. Cohen

Re: Life Insurance Payoff Attachable?

As this is one of your assets, under ordinary circumstances it may be attached pursuant to normal legal processes.

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Answered on 11/24/04, 10:32 pm
Armen Tashjian Law Offices of Armen M. Tashjian

Re: Life Insurance Payoff Attachable?

Why would the insurance company send you a checkbook and keep your money? You should be entitled to all the proceeds without delay.

Lienholders will be able to cease your assets if you are not careful. You are advised to consult a lawyer for thorough evaluation in order to deal with lienholder issues more effectively.

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Answered on 11/24/04, 10:41 pm


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