Regarding the amount of cash in my savings/checking account, if I have $40k in a savings account, and $30k in a checking account, are you saying that only $5k would be subject to siezure in the checking, and $10k is subject to siezure in the savings...in other words, is the $25k the MAX allowable cash I'm able to keep, or is that per account? Silly question...I'd bet it's only $25k MAX I'm allowed to keep...yes?
You said cashing out the accounts would not help protect the money in them. Why, because it's "so recent"? If the money is not there, it's not there. What is significant about the 6 month time period? That $ may be spent on a trip to Mexico or buying losing lottery tickets, etc. In other words, that cash disappears without having anything matieral to show for it.
The some savings bonds are ONLY in my child's name. Others, I believe, have both our names on the bond. Are the bonds that have both our names on them subject to siezure?
Last, but certainly not least, would you recommend that I open a savings account for my oldest child (13 years old), and transfer/depost all this $ in his account, to protect it from being seized? I don't know if there's a minimum age a child can open a savings account w/o a parent/guardian's signature/custodial rights/etc?
Thank you so much.