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MO HB276

Bill

Official Source

Status

Engrossed

3/18/2015

Primary Sponsor

Robert Cornejo

Click for details

Origin

House of Representatives

2015 Regular Session

AI Summary

  • Amends Missouri Section 513.430 to add a new exemption protecting up to $15,000 of matured life insurance proceeds from attachment and execution when used for actual funeral, cremation, or burial expenses
  • The exemption applies only when the deceased is the spouse, child, or parent of the insurance beneficiary
  • Existing exemptions remain unchanged, including household goods (up to $3,000), wedding rings (up to $1,500), motor vehicles (up to $3,000), and tools of trade (up to $3,000)
  • Unmatured life insurance contracts continue to be fully exempt from creditor claims under existing law

Legislative Description

Allows up to $15,000 of the benefits of a life insurance policy to be exempt from attachment if used for funeral, cremation, or burial expenses

Last Action

Placed on Informal Calendar

5/6/2015

Committee Referrals

Select Committee on Judiciary2/26/2015
Civil and Criminal Proceedings1/27/2015

Full Bill Text

No bill text available