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No dishonour in estate bankruptcy

Thursday, September 29, 2016 @ 8:00 PM | By Richard Goldhar

What do you get when you mix sudden death with debt?

A few months ago, I received a phone call from an insurance broker who was sending payment out of the proceeds of a large life insurance policy to a client who had lost her husband unexpectedly, many years before either spouse expected to be settling the matrimonial estate.

The assets in the husband’s estate consisted of his equity in the matrimonial home and a $1 million death benefit from the insurance policy. The husband had...