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Dimitry K., Esq.
Dimitry K., Esq., Attorney
Category: Legal
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Experience:  Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.
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In Tennessee, are Life Insurance proceeds deposited in a branch

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In Tennessee, are Life Insurance proceeds deposited in a branch bank located in Tennessee exempt from garnishment?
Thank you, Bruce

Thank you for your question, Bruce.

 

My apologies but after reviewing state law I found no specific exemptions for life insurance proceeds. Such proceeds are considered 'income' and can be pursued by the creditor as any other wage or income that the debtor obtained. If you can point to anything that you may have read or reviewed that claimed that life insurance proceeds are somehow exempt, I can review it for validity, but that simply does not exist in the statutory authority or state code.

 

Hope that helps.

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