The Married Women's Property (MWP) Act of 1874 attempts to safeguard your assets so that you and your family receive what rightfully belongs to them under any circumstances.
The corpus established under MWPA policy/ies are free from creditors, other encumbrances, and attachments (even only in case of insolvency), provided there isn't any fraudulent intent in producing this instrument.
Section 6 of the MWP Act, 1874 states: " A policy of insurance effected by any married man on his own life and expressed on the face of it to be for the benefit of his wife, or of his wife and children, or any of them, shall ensure and be deemed to be a trust for the benefit of his wife, or of his wife and children, or any of them according to the interests so expressed, and shall not, so long as any object of the trust remains, be subject to the control of the husband, or to his creditors, or form part of his estate."
Section 5 of the MWP Act, 1874 states: " Any married woman may effect a policy of insurance on her own behalf and independently of her husband; and the same and all benefit thereof, if expressed on the face of it to be so effected, shall ensure as her separate property, and the contract evidenced by such policy shall be as valid as if made with an unmarried woman."
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