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Home >> Manage Your Money >> Debt Management
Inheritance and Debt Management
My father passed away recently. I live in California. His insurance company is sending me over $10,000. I have a new savings account, very basic. Is the fact that this is an insurance claim from a deceased relative, protect the money against creditors such as student loans/car loan, other banks, check systems. If I have a two year old unpaid court judgement against me, is the person who filed it or the court automatically notified of the money? Finally how can I protect my money while getting my debts resolved one at a time?
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 Once the funds are in your possession, they would be subject to access through a writ of attachment, however, there is no reason your creditors would be notified of the payment by you father's estate. However, there would be no extraordinary protection for the funds based on where they came from. For legal advice, discuss your situation with an attorney.
Published on BankingQuestions.com 5/11/09
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