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Can a creditor garnishment my bank account when all the money in it is Federal annuity?
Wiki User
∙ 15y ago
yes, i creditor can garnish a bank account to $0 regardless of where the funds in the account came from
Wiki User
∙ 15y ago
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Which creditors can garnish your pension in Alabama?
Generally pensions cannot be garnished by judgment creditors. A few U.S. states have exceptions when it pertains to private pension annuities. All SS benefits are exempt by federal law from creditor garnishment.All pensions, private and otherwise can be garnished for tax arrearages and child support obligations/arrearages. A few U.S. states also allow the levy of pension funds when it relates to spousal maintainence/alimony.CAVEAT: If you have your pension/annuity/whatever directly deposited into a bank account the creditor CAN lien your bank account. Upon their deposit, once those payments are converted to cash, the creditor has access to them. It then becomes YOUR burden to prove to the court which of those funds derive SOLELY from your pension/annuity income and should be untouchable.
What is a savings account with an insurance company?
An Annuity
What is a annuity fund?
A deferred annuity fund is an annuity contract that does not pay out income or installments until the customer decides to withdraw the funds from the account.
What is annuity fund?
A deferred annuity fund is an annuity contract that does not pay out income or installments until the customer decides to withdraw the funds from the account.
What is a deferred annuity fund?
A deferred annuity fund is an annuity contract that does not pay out income or installments until the customer decides to withdraw the funds from the account.
i am retiring from federal employment with tsp of 200,00. what would my monthly annutie be ?
You can use the federal government's TSP annuity calculator located here http://www.tsp.gov/calc/annuity/annuity.cfm to calculate the value of your monthly annuity based on your individual status.
Can you receive a Federal employee disability annuity and a VA disability annuity payment together?
Yes you can collect Federal Disability Civil service and Va disability payment together, but the checks are separate.
Can federal tax on an annuity be deducted on your federal tax return?
There is a section on the tax form for deductions. If you keep track of how much money you have paid on an annuity, tax professionals and various tax programs will assist in making the proper federal tax deductions.
Is a annuity check considered income?
An annuity check would be a part of your unearned income amount on your federal 1040 income tax return.
My mother has a single premium deferred annuity when she dies do her children receive cash from that annuity?
Are the children the beneficiary's of the Annuity? Annuity's are like Life insurance, they have named beneficiary's listed in the contract. If the children are listed, then yes they are going to benefit from this account.
Is a annuity check considered earned income?
An annuity check would be a part of your unearned income amount on your federal 1040 income tax return.
You lost money on an annuity account can you claim it as a loss?
If it is a tax preferred type account....oike in your IRA or 401k, no.
