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It might be complicated. I'm in. My question is... I

Hi, it might be...

Hi, it might be complicated.

Lawyer's Assistant: What state is this in? It matters because laws vary by location.

I'm in Virginia. My question is... I received school loans in California back in the mid-nineties and was never able to pay it back. I'm in default. The loan companies sold my loans to the IRS. At this time, I am unable to pay because I'm unemployed and have been for years. However, I'm the co-trustee for the family trust and when my father passes, I'll be in charge of taking care of everything he has and divide it between myself and my siblings. Can or would the IRS be able to take all or some of those funds when he passes?

Lawyer's Assistant: What steps have you taken so far?

Nothing, yet, because I have no idea what to do. My father could pass at any time or not for another 5 years. He's 94 years old now.

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

The last time I knew what the total was, was several years ago and with the interest it was over $70K

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Customer reply replied 27 days ago
I probably should add that I am 62 years old and was widowed in Feb. I am now receiving Widow's Benefits of $1286.00 a month from Social Security and expect to get a survivor pension of about $330 a month from my husbands previous employers starting in the next couple of months.
Answered in 18 minutes by:
3/29/2018
Ray
Ray, Lawyer
Category: Legal
Satisfied Customers: 46,384
Experience: 30 years in civil, probate, real estate, elder law
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Hi and welcome to JA. Ray here to help you today.Please bear with me a few moments while I review your question and respond.

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Customer reply replied 27 days ago
Sure, thank you very much.
Customer reply replied 27 days ago
I'm fine with typing.

You should watch out when you receive funds here.I would get the cash and put it in safety box off the grid.Bank levies are nasty, you get notified after they took the money.Get cash here put it off the grid.Other than that you should be fine here.But you don't see levies coming, keep the least amount of cash you can in your account.

You want to look poor keeping account low and they likely leave you alone.

I appreciate the chance to help you tonight.Prayers to you with all of this.

If you can positive rate 5 stars it is much appreciated.

Ray
Ray, Lawyer
Category: Legal
Satisfied Customers: 46,384
Experience: 30 years in civil, probate, real estate, elder law
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Customer reply replied 27 days ago
A lot of it is in 3 different bank accounts and CD and Money Markets, so he's spred it all over.

So here cash it out as quick as you can.Forget about the interest.If they have judgments you are ripe for bank levy once you put funds in your name.They check credit bureaus so be careful.This is also good for you in case you need medicaid they cannot see it either.Thanks

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Category: Legal
Satisfied Customers: 46,384
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Experience: 30 years in civil, probate, real estate, elder law

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