I receive income for three grandchildren. If I put it into an account, can creditors take it?
Talk to your bank representative to find out the options available. Some alternatives might include a UTMA (Uniform Transfers to Minors Act) account for each of the kids, a Representative Payee account, if all of the income is from Social Security, or a formal trust account for the kids' benefit. To be certain about the ability of a creditor to reach the funds in a deposit account, check with an attorney in your state. The three account types described, if available, should be outside the grasp of your creditors in most states.
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Talk to your bank representative to find out the options available. Some alternatives might include a 