Law

Pre-petition Payment of Insurance Proceeds Triggers Preference Recovery

Section 547 of the Bankruptcy Code provides for the potential recovery of transfers of a debtor's property occurring within 90 days of bankruptcy. Typically, preference actions involve payments to ...
Forbes

How Fire Victims Can Rebuild Without Tax On Their Insurance Proceeds

After devastating losses, some fire victims will hopefully be receiving money soon from their insurance companies, even if any eventual lawsuit recoveries may be years away. The IRS and the California ...
Investopedia

Insurance Proceeds: What it is, How it Works

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of ...
Think Advisor

63 / Are life insurance proceeds payable by reason of the insured’s death taxable income to the beneficiary?

Generally, no. As a general rule, death proceeds are excludable from the beneficiary’s gross income. 1 Death proceeds from single premium, periodic premium, or flexible premium policies are received ...
Law

Pre-petition Payment of Insurance Proceeds Triggers Preference Recovery

The original version of this story was published on The Legal Intelligencer Section 547 of the Bankruptcy Code provides for the potential recovery of transfers of a debtor’s property occurring within ...