If you live out of the country but have a joint checking account in Florida funded by a pension and Social Security can creditors garnish or freeze the account?

Answer 1

All SS benefits including SSD and SSI are exempted by federal law from creditor garnishment. Bank accounts belonging to married couples in the state of Florida are presumed to be held in Tenancy-By-The-Entirety unless the signature card specifies otherwise. TBE accounts cannot be levied by creditors unless the spouses are joint debtors. If an account contains only SS benefits it cannot be garnished regardless of the way it is established. Some pensions are garnishable by a set percentage established by the state laws. It is necessary for the debtor to have proof the funds are exempted under federal or state law in order to have maximum protection from creditor garnishment. This protection is NOT automatic when it pertains to a creditor lawsuit. The debtor/defendant must submit the required documentation to protect bank accounts and other real and personal property that is allowed under Florida's exemption laws.

Answer 2

Well it depends on who the creditor is. If it is the internal revenue service for back federal income taxes they can levy the bank account and also if you owe on back child support or owe an ex spouse back spousal support it can be levied. But any other creditors like owing state income taxes in new york, creditcard companies, wrongful death suit creditors or anybody else cannot levy your bank account. Also federal law prohibits assignment of social security bank accounts. Also tell your bank that your account is for social security funds only so you get the creditor anti levy protection. In closing it is dangerous to keep other monetary funds from other sources in the same social security account because it loses its creditors anti seizure protection.