Life Insurance Policy On Mother In Law
Our small corp. is facing bankrupcty, can our creditors take contoll of life insurance policies?
We have policies on our children for 15,000 each, my husband is insured for 200,000. Myself for 100,000 and we have one on my mother in law for 100,000. No one is sick. Should we change beneficeries to our kids before we file, just to be careful?
You really should contact a bankruptcy attorney for this kind of information.
Your answer will really depend upon the state where your corporation is located and life insurance policies.
