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Annuity death proceeds bypass the estate and probate and are paid directly to beneficiary. BEST INVESTMENT FOR SENIORS!!! (if bought correctly) 4lifeguild
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∙ 16y ago
In the state of Georgia, annuities are generally protected from creditors and are considered to be judgment proof if they meet certain criteria set by state law. This protection applies to qualified annuities, which are typically purchased through retirement accounts such as IRAs or 401(k) plans. Non-qualified annuities may have limited protection under certain circumstances. It is advisable to consult with a legal professional for specific advice on protecting assets from creditors in Georgia.
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Are Guaranteed Annuities Judgment Proof?
Guaranteed annuities are typically protected from creditors in some states, known as "judgment-proof." This protection varies by state law and the type of annuity involved. It's important to consult with a legal professional familiar with your state's laws to understand how annuities are treated in the event of a judgment against you.
Can you get a license to sell annuities in Ohio if you have a felony?
It is possible to get a license to sell annuities in Ohio with a felony, but it will depend on the nature of the felony, how recent it was, and other factors. You would need to disclose your felony on your license application and undergo a review by the state insurance department. Each case is considered on an individual basis.
Does the state of Georgia tax retirement benefits?
Yes, Georgia does partially tax retirement income, including distributions from retirement accounts like 401(k) and IRAs. However, certain types of retirement income, such as Social Security benefits, are exempt from state income tax in Georgia.
What is the age for leaving home in the state of Georgia?
In the state of Georgia, the legal age for leaving home without parental consent is 18 years old. If a minor leaves home before reaching the age of majority, they could potentially be considered a runaway.
How old do you have to be to move out of your parents home in the state of Georgia?
In Georgia, you must be at least 18 years old to legally move out of your parents' home without their permission.
Can a judgment creditor take your retirement 401 or annuities?
It really depends on which state you live in. Every state has different rules about who can garnish what types of income. Most states do not allow 401K or annuities to be garnished for any reason.
In a lawsuit what does the term judgment proof mean?
The legal term is "execution proof" In essence it means the debtor has no property that is considered nonexempt under state laws. Each state has a proscribed set of exemptions that can be used whenever a person is sued or files bankruptcy. For the average consumer this usually renders them "judgment proof" meaning the debt even though a writ of judgment is granted cannot be collected. "Macky"
Can a collection agency garner an ssi check in Washington State?
no those kinds of income are protected and judgment proof
Are there any annuities backed by fdic?
No. But most variable annuities and fixed deffered annuities are backed by the State Gurantee Association, which is a government agency similar to the fdic
Does a lien go off a home after 7 years if not paid?
It depends on your state laws. Check your state laws to see how long a judgment can be enforced and if judgments are "renewable" in your state. My state (Georgia) length of time a judgment (lien) can be enforced is seven years unless the creditor requests a renewal of the judgment by filing in court again. Then they have seven more years to attempt to enforce the judgment.
Can they seize your property in a different state from were the judgment was made?
For a state court judgment, no.For a state court judgment, no.For a state court judgment, no.For a state court judgment, no.
Someone owes for 12 month lease how can you garnish their wages in Georgia?
Georgia law requires a signed court judgment in order to garnish wages in the state. The signed judgment must be filed with the appropriate garnishment paperwork at the local clerk's office.
What do you need to show proof of residency to get my car registered in Georgia?
A valid driver's license from that State, Utility bills.
What happens if you default on a payday loan in Georgia?
Payday loans are considered illegal in the state of Georgia. However, if you default on a payday loan, the company can sue you in court. The judge will decide how a judgment will be carried out if the loan was given in Georgia illegally.
Will a judgment prevent a reverse mortgage?
only if its a federal judgment or a judgment in the state in which you want the reverse mortgage. if its a judgment out of state and has not been domesticated in your state then the answer is no. if the out of state judgment cannot be domesticated in your state because of statute of limitations or repose, then you should be okay.
Is there a redemption period in the state of Georgia for foreclosed homes?
In some states, a lender can seek a personal judgment against the debtor regarding the redemption period for foreclosed homes. In Georgia, there is no statutory right of redemption.
If you are judgment proof can they take my car 2000 neon?
The answer depends on your state's laws regarding executions of personal property for unpaid judgments. In general, a judgment creditor cannot execute against a vehicle if it is your primary source of transportation. Contact an attorney in your state for specific information on your case.
