Court Opinion

ID: 9525531
Source: CourtListenerOpinion
Date Created: 2023-08-07 03:04:39.631445+00
Date Added: 2024-06-11T13:15:19.443721
License: Public Domain

DeBRULER, Justice,
dissenting.
The record here is quite clear, and indeed the bank concedes, that David Chiesi named his spouse Linda Chiesi as sole beneficiary of these two life insurance policies. The exemption statute provides:
All policies of life insurance ... which name as beneficiary ... the spouse ... shall be held ... free and clear from all claims of the creditors of such insured person ... and the proceeds or avails of all such life insurance shall be exempt from all liabilities from any debt or debts of such insured person ...
1.C. 27-1-12-14(c). Clearly, all life insurance policies, having the particular characteristics required by this statute, as well as the proceeds paid pursuant to such policies, are exempt. The two policies owned by David Chiesi, as well as their proceeds, have the necessary class characteristics. Therefore, the two policies in the hands of their owner David Chiesi were exempt, as are the proceeds of the two policies. I would order the proceeds paid to the heirs of David encapsulated in this exemption, as they are the persons legally entitled to them.
DICKSON, J., concurs.