Yes AND no. Generally speaking, Social Security benefits are exempt from liens EXCEPT federal taxes. However, you will probably have to prove that ALL the money in your bank account comes from NOTHING but the SS payments.
Yes, it's. It prevents an unauthorized accesses.
You cannot collapse your Social Security trust account. Social Security is a government-administered program that provides retirement, disability, and survivor benefits to eligible individuals based on their work history and contributions. The funds in your Social Security account are used to pay benefits to current beneficiaries and will be available to you when you become eligible to receive benefits.
The letter 'W' at the end of a Medicare suffix typically indicates that the individual is a widow/widower of the deceased primary account holder who earned Social Security benefits.
if you have closed or disabled your account you can't get back on it!
Social security benefits that are taxable include mutual funds, rrsps, gic's and any account like that. You should get money wherever you can. Good for you.
Only if the account holds exempted funds such as Social Security benefits or similar monies (military, government pension, disability benefits, etc.).
Only if you want to change the account into which the funds go. Otherwise, there is no law that says you can only have one account at a time ever.
My Gmail account was disabled, but there is no way that you can get your Gmail account back, sorry for your unfortunate event.
No. all Social Security benefits and WCI benefits and all public assistance monies are exempt from attachment by judgment creditors. (This does not pertain to the IRS, state tax collectors or child support obligations). Please be advised that it is the obligation of the account holder to notify the judgment creditor and the court that the account contains protected benefits. It is also advisable not to commingle funds in an account that also holds exempted monies.
no
Generally, no. Retirement accounts that are ERISA-qualified aren't considered property of an estate and cannot be taken. Social Security benefits are generally protected from assignment, or garnishment for debts in bankruptcy. The Social Security Administration's responsibility for protecting benefits against legal process and assignment usually ends when the beneficiary is paid. Once paid, the benefits continue to be protected only as long as they can be identified as Social Security benefits. For example, money in a bank account where the "only" deposits into the account are direct deposits of Social Security benefits are "identifiable" and generally protected.
No cap. Your savings are not a factor in receiving social security benefits. After all, the government is simply returning YOUR money that you paid into your whole working life.