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What else can I help you with?
Can Husband of a deceased owner of US Savings Bond deposit it to their bank account?
The estate will have to cash the savings bond in and then distribute the earnings.
Can my creditors take money from my son savings accounts where I a a custodian?
Yes, creditors can potentially access funds in a custodial account if you are the custodian and the account is under your name. Since you control the account until your son reaches the age of majority, creditors may argue that the funds are available to satisfy your debts. However, laws vary by state, and some protections may apply, so it's advisable to consult with a legal expert for specific guidance.
How much savings are you allowed to keep after filing chapter 7?
it depends on your state exemptions and what you mean by savings... for example, some states provide for 150$ of a bank account to be exempt, meaning everything else will become part of the bankruptcy estate to repay creditors.
What happens to an HSA when you die?
When a person with a Health Savings Account (HSA) dies, the account becomes part of their estate. The funds in the HSA can be used to pay for qualified medical expenses of the deceased person's estate or designated beneficiaries.
What is a compound interest savings account?
Its where your savings account earns interest on the interest.
Can creditors garnish my savings account?
Yes
Can creditors garnish joint savings accounts if one party on the account is not named in lawsuit?
In most states, creditors can garnish any account joint or not as long as the person they are trying to collect from is on that account. Sorry. The non debtor account holder should supply proof of the amount of funds held in the account that belongs to them. The court will then decide which funds are subject to levy. An exception to the levy of joint accounts is if the account is held by a married couple in a state that recognizes Tenancy By The Entirety of personal property, in such a case, the account cannot be levied when only one spouse is the debtor.
Can Husband of a deceased owner of US Savings Bond deposit it to their bank account?
The estate will have to cash the savings bond in and then distribute the earnings.
Can creditor garnish your children saving accounts?
A court can order the garnishment of any account associated with your Social Security number, including your children's savings accounts. You can petition the court to have savings accounts excluded.
Who are sundry creditors?
Those who are members of a Cooperative Society was told that unclaimed dividened of their savings during the annual AGM will classify as Sundry Creditors and shall not be allowed to accumulate the dividened out into their account. Is this the right term to use?
What creditors can seize a child's college or 529 account?
Creditors generally cannot seize funds in a 529 college savings plan or a custodial account for a child, as these accounts are often protected from creditors. However, if the account owner is a parent or guardian and they face bankruptcy or legal judgments, creditors might be able to access the funds. Additionally, if the account is considered part of the parent’s assets during asset evaluation for financial aid, it could impact the child’s eligibility for aid. It’s important to consult with a financial advisor or legal expert for specific situations.
Can my creditors take money from my son savings accounts where I a a custodian?
Yes, creditors can potentially access funds in a custodial account if you are the custodian and the account is under your name. Since you control the account until your son reaches the age of majority, creditors may argue that the funds are available to satisfy your debts. However, laws vary by state, and some protections may apply, so it's advisable to consult with a legal expert for specific guidance.
Can you change a savings account to joint account?
You may be able to add someone to your savings account ..contact the bank where you have the savings account for details
Can a US bank freeze a checking or savings account when a person dies?
Most states requre that the probate courts be allowed to investigate all of the finances of the deceased.
Would you use savings money to pay off debts?
It depends on how much I have in savings. If I only have $100 and I have to pay $1000 to my creditors, I would still have $0. I would try to save a little bit from each paycheck and whatever I think it is a certain amount to lose then I will have a big savings account
Can you declare bankruptcy if you have retirement account and savings account?
Yes, you can file a Bankruptcy if you have a retirement account. Most retirement accounts are not considered to be part of the bankruptcy state, and are out of the creditors' reach. This includes traditional 401(ks), IRAs, government retirement accounts such as CalSTRS and more.
In Texas can a credit card company take savings account?
In Texas, a credit card company can potentially access funds in your savings account if they obtain a court judgment against you for unpaid debts. This process usually involves legal action, where the creditor sues you and, if successful, may seek to garnish funds from your bank account. However, certain protections exist, such as exemptions for a portion of your savings, making it important to consult with a legal expert for specific circumstances.
