QUESTION

I have a judgement against me and my bank account was confiscated and monies withdrawn. The amount was not anywhere near the amount of the judgement.

Asked on Jul 26th, 2016 on Debtor and Creditor - New York
More details to this question:
This happened about 2 years ago. I have since deposited and withdrawn monies from that account since but am careful to leave in just what I need. I have recently received a large sum of money and the bank told me that if I deposited it in someone else's name and become the POA on the account it would be protected. Is that true? Seems to easy.
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1 ANSWER

Estate Planning Attorney serving New York, NY
1 Award
Yes and no.  There are better ways to do this, if the sum is really large.  What you are doing can be challenged, and the other person could take it.
Answered on Jul 30th, 2016 at 3:40 PM

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