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  1. #1
    Join Date
    Sep 2019
    Posts
    1

    Default Have a Federal Order of Restitution in Place Until I Die, How Will Effect Beneficiary

    My question involves estate proceedings in the state of: Montana and Iowa I have a federal restitution order in place until I die (the amount is so huge) it will probably never be paid off. I am concerned about life insurance that I purchase for my loved ones making them the beneficiaries. And, also what will happen to the insurance I have for my burial? I had a federal forfeiture order and that was fulfilled. I have been free since 2015. If I acquire any assets ie. life insurance, stocks, etc when I die will those be subject to the feds taking them instead of my loved ones benefitting from the asset?

  2. #2
    Join Date
    Mar 2013
    Posts
    17,156

    Default Re: Have a Federal Order of Restitution in Place Until I Die, How Will Effect Benefic

    Life insurance (death) benefits go to the beneficiary listed on the policy. The money is not part of your estate and doesn't have to be listed in probate. It's unlikely that the government will every know you have one.

    Any other assets that you accumulate during your lifetime will generally have to be sold to pay your debt (there may be some small exceptions). If your debt is big enough your loved ones will get nothing.

  3. #3
    Join Date
    Oct 2006
    Posts
    15,625

    Default Re: Have a Federal Order of Restitution in Place Until I Die, How Will Effect Benefic

    Quote Quoting adjusterjack
    View Post
    Life insurance (death) benefits go to the beneficiary listed on the policy. The money is not part of your estate and doesn't have to be listed in probate. It's unlikely that the government will every know you have one.

    Any other assets that you accumulate during your lifetime will generally have to be sold to pay your debt (there may be some small exceptions). If your debt is big enough your loved ones will get nothing.
    Except the life insurance. I think you meant that but it really didn't read that way.

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