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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
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How to garnish a brokerage account for back up alimony in

Customer Question

How to garnish a brokerage account for back up alimony in Maryland?
Submitted: 3 months ago.
Category: Tax
Expert:  Lane replied 3 months ago.

Hi. My name's Lane. I can help you here.

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The Writ of Garnishment must be served on the garnishee via certified mail, restricted delivery, private process or sheriff/constable

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After the Writ is served on the brokerage firm, they “freeze” the account. This means the judgment debtor will be unable to access money in the account unless the amount in the account exceeds the amount of the garnishment. If additional money is deposited into the account (like a direct deposit from work), it is often frozen too.

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The firm often assesses fees and costs associated with the garnishment proceeding.

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The account holder can file "Motion to release Property, if he or she has less than $6000 in an account that's been served.

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If the debtor wants to object or raise exemptions to the garnishment, he or she should do this within 30 days of the firm being served with the Writ of Garnishment.

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If no exemptions are raised, the judgment creditor must file a Request for Judgment-Garnishment. This orders the garnishee to pay the money to the judgment creditor.

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Here's what the motion to release looks like: http://www.courts.state.md.us/district/forms/civil/dccv036.pdf

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I'd highly recommend having a sherriff serve the writ on the brokerage firm