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Unfortunately, they can begin to collect on the offset notice right away even though you will be incarcerated. The offset notice means they will seek to take any funds in your name, not those in a trust, and any income tax refunds. According to you they stated they would waive interest, meaning you would not have to pay interest on the restitution. When you come out of jail, you will have to begin repaying the restitution that they were not able to collect through the offset.
If the property and accounts are in the name of a trust and it is an irrevocable trust, then they cannot go after the trustee or other members of the trust personally. They also cannot go after the trust itself and as long as the property remains in the trust it is safe. They can only go after trust funds WHEN THEY COME OUT OF TRUST TO YOU, such as if you receive any payments from the trust.
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