this question was just asked of me today. but i didn’t know how to answer. i would think it would be protected since it’s tax free money. i kind of view it like a pension or something like that. but i may be wrong. is the laws different from state to state? TX is the state in question.
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March 29th, 2009 at 11:26 am
death claim and subsequent settlement is exempted from tax.but “wrongful death ” in legal validity if eligible for claimant then exempted from TX. if annuitant is alive the regular annuity payment if above the individual income limit ,then taxable of course. it differs from country to country. THIS IS IN INDIA what I explained.
April 1st, 2009 at 5:57 pm
That is most definitely a question for an attorney. SInce it is income I would think that it would NOT be exempt from the disclosure.
I work in the welfare department and if a person was apply for foodstamps that would be counted as money that they have and they application would be denied. So I suppose it is different for various parts of the legal system…not something I would risk to someone on yahoo answers’ best guess so please talk to an attorney who specializes in this field so that you can get the correct answer. A mistake here could be costly!