Garnishment of Social Security Benefits from Recipient's Bank Account vs. Garnishment of Retiree's Pension Benefits from Retiree's Bank Account
As an asset protection planning attorney, it is interesting how often other attorneys ask me about the exposure of their clients' social security and pension monies to creditors' claims. The frequency is probably directly correlated to the fact that social security benefits and pension benefits are ubiquitous and so the question comes up all the time. While the law is clear on the debtors' and creditors' rights in these situations, unless the attorney practices in the asset protection planning arena, he or she may not be aware of the specific rules. Therefore, a brief summary may be helpful to the readers of my blog.