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Income Protected from Creditors
Social Security & Other Types of Retirement Income Cannot Be Garnished
Seniors with debt problems are often concerned that creditors will garnish money from their accounts. However, certain types of income cannot be garnished except in very limited situations. Income that is protected from most creditors includes Social Security, Veterans benefits, and most pension and retirement plans.
There are some exceptions. Protected income can still be garnished to pay back taxes, student loans, and child support. The Social Security Administration can also take back money in the case of overpayment.
If a creditor tries to garnish money from a bank account, it is up the account holder to assert the exemption. To make it easier to prove the money is exempt, the senior should keep protected income separate from non-protected income. For example, if a person works and receives Social Security benefits, the money from each should be deposited in different accounts.
For more information and to watch a video on protecting retirement income from creditors, go to the Legal Aid of Oklahoma website. |
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Free Tax Help for Seniors
AARP Offers Tax Preparation and Assistance
Low and moderate income seniors may be eligible to receive free help preparing their tax returns. Services are offered at approximately 44 sites in Oklahoma.
For more information, or to locate an AARP Tax-Aide site, call (888) 227-7669 or go to www.aarp.org/taxaide. |
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Mark Your Calendars
Upcoming Conferences & Events for Seniors, Caregivers & Professionals
26th Annual Minority Aging Conference
March 23-24
Southern Hills Marriot, Tulsa
Sunbeam Family Services Caregiver Fundamentals Seminar*
April 4, 11, 18, & 25, 6:30 - 8:00p.m.
Integris Southwest Medical Center
Contact: (888) 951-2277
Informed Senior Seminar
April 8, 8:30a.m. - 12:30p.m.
OKC Community College
Contact: (405) 752-3600
Oklahoma Conference on Aging*
May 10-12
Embassy Suites, Norman
Contact: DHS Aging Services Division, (405) 521-2281
Oklahoma Hospice and Palliative Care Association 1st Annual Spring Conference
May 17, 9:00a.m. - 3:30p.m.
S. Penn Campus, Moore/Norman Tech. Center
* indicates a Senior Law Resource Center representative will be giving a presentation. |
About the Senior Law Resource Center
The Senior Law Resource Center is a 501(c)3 non-profit organization dedicated to empowering Oklahomans to age with independence, dignity, and security by providing high-quality, affordable legal information and services.
Senior Law Resource Center
600 N.W. 23rd Street, Ste. 106
Oklahoma City, Oklahoma 73103
(405) 528-0858
FAX: (405) 601-2134 info@senior-law.org www.senior-law.org |
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Affordable Legal Services Available
Our attorneys provide affordable assistance with basic estate and incapacity planning, probate, adult guardianship, and other elder law issues. We have no income or age requirements. Call (405) 528-0858 or email info@senior-law.org for more information. |
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Support the Senior Law Resource Center
If you value the information and services provided by the Senior Law Resource Center, please consider making a tax-deductible donation.
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