Posted By: Bec
Workmen's Comp and Bank Levies - 09/24/15 05:56 PM
Are workmen's compensation funds deposited into a bank account exempt from execution of a levy from the department of revenue?
I(i) Life insurance claims, personal injury or wrongful death claims.
1. Any of the following payments:
a. A payment to the debtor under a life insurance contract that insured the life of an individual of whom the debtor was a dependent on the date of that individual's death, to the extent reasonably necessary for the support of the debtor and the debtor's dependents.
b. A payment resulting from the wrongful death of an individual of whom the debtor was a dependent, in an amount reasonably necessary for the support of the debtor and the debtor's dependents.
c. A payment, not to exceed $50,000, resulting from personal bodily injury, including pain and suffering or compensation for actual pecuniary loss, of the debtor or an individual of whom the debtor is a dependent.
[ d. A payment in compensation of loss of future earnings of the debtor or an individual of whom the debtor is or was a dependent in an amount reasonably necessary for the support of the debtor and the debtor's dependents.
2. Any property traceable to payments under subd. 1. is exempt
I want to say that the highlighted portion would be a telling sign that workmen's comp benefits would be exempt, but of course it doesn't come right out and say it.
Does anyone else have any experience with this?
I(i) Life insurance claims, personal injury or wrongful death claims.
1. Any of the following payments:
a. A payment to the debtor under a life insurance contract that insured the life of an individual of whom the debtor was a dependent on the date of that individual's death, to the extent reasonably necessary for the support of the debtor and the debtor's dependents.
b. A payment resulting from the wrongful death of an individual of whom the debtor was a dependent, in an amount reasonably necessary for the support of the debtor and the debtor's dependents.
c. A payment, not to exceed $50,000, resulting from personal bodily injury, including pain and suffering or compensation for actual pecuniary loss, of the debtor or an individual of whom the debtor is a dependent.
[ d. A payment in compensation of loss of future earnings of the debtor or an individual of whom the debtor is or was a dependent in an amount reasonably necessary for the support of the debtor and the debtor's dependents.
2. Any property traceable to payments under subd. 1. is exempt
I want to say that the highlighted portion would be a telling sign that workmen's comp benefits would be exempt, but of course it doesn't come right out and say it.
Does anyone else have any experience with this?