Can You Place A Judgment Lien On Life Insurance?
Posted July 1, 2009 – 10:28 pm in: structured settlements FAQI have a judgment agianst someone that I know has life insurance with a cash value. Can it be liened to satisfy my judgment?
Tags: Insurance, Judgment, Lien, Life, Place
4 Comments
Depends on the state laws involved. See a qualified attorney to help you with this. Or try calling the state’s department of insurance.
the person who owes you would have to be the owner of the policy
I suspect you’d have to get a court order attaching the proceeds and then deliver that to the life insurance company involved.
seems possible and the specific details are beyond anything i’ve ever done
No you cannot for the simple reason life insurance is for the benefit of the beneficiary in other words life insurance does not benefit the owner or belong to the owner. It is like the money you send to your ex-wife for child support it is her money but for the benefit of the kids no judgment against that cash either.
No way no how. A judgment can’t be placed on life insurance. Not even the IRS can do it. I know from personal experience. Nobody can touch life insurance proceeds.