Loretta A. asked
I am the defendant in a Penalty Civil Suit with the US as the plaintiff. I have settled with the Feds, who are about to get a $5 million judgment. They are allowing me to keep a life estate in our home and my social security. My wife, who was not a defendant, is a joint tenant and must sign over her half of the property. My questions are: (1) Can the Feds take her IRA? (2) Can they take her assets or any future income? (3) If I die, can they claim her Life Insurance? Additionally, since they have a large judgment, they want me to inventory everything I own valued at over $500. Will they take items like the gas range, refrigerator, or cars? If I trade one of the cars in and buy a new used car with a lien, what will they do? Finally, our home is in a Family Limited Partnership. I was told we are not eligible for the California Homestead because the home is not in our name. Is that true?
December 29th, 2024
Tiffany H. answered
As your wife was not a defendant in the suit, the federal government is quite limited in what they c...
December 29th, 2024
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