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Category: Bankruptcy Law
Satisfied Customers: 17252
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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My mother has terminal cancer and is coming to the end of her

Resolved Question:

My mother has terminal cancer and is coming to the end of her illness. She has 10 of thousands of dollars in medical bills. She has no estate to speak of. She owns no home, vehicle, IRAs, etc. However, she does have life insurance and a 401k that I am the beneficiary of. Part of that money will be used for burial costs. And the other I would like to save for my daughter for school. Can that money be intercepted to pay medical costs?
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  WALLSTREETESQ replied 7 years ago.
did she have medicaid pay any of her care?
Customer: replied 7 years ago.
she's not on medicaid sir, she has insurance through her employer but the ratio of payout is 70-30 and with all the treatments and hospital stays she's had things have added up over the last two years
Expert:  WALLSTREETESQ replied 7 years ago.
if her bills are not from medicaid, her assets are protected from creditors, what they can do it attach any personal checking accounts in her name, If possible see if she can cash her 401k now, and put them money into the account of the person she wants to have her Estate, also when she passes the life insurance will go to the listed beneficiary, that person should then pay only the funeral bills, and the rest kept.

If you file an Official Estate in Court the Life Insurance and 401k will be used to pay her debts, so do not file for it,, and her debts would not be able to collect or intercept the insurance.
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