From a post about auto liability matters, someone posted that future earnings cannot be seized if you lose the lawsuit.
No lawyer or expert here, but I thought there were circumstances where this could be a risk to someone with low actual assets, but high and long future earnings.
In general, when can future income be taken in lawsuit?
Re: In general, when can future income be taken in lawsuit?
Whether and how future income streams can be attached is a complex, and highly state-specific area of law. I doubt there is a one size fits all answer.
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Re: In general, when can future income be taken in lawsuit?
In general -- when there's a judgment against someone. The judgment is good for some length of time, depending on state law. Sometimes it can be extended for an additional length of time.
Re: In general, when can future income be taken in lawsuit?
+1
"Don't trust everything you read on the Internet"- Abraham Lincoln
Re: In general, when can future income be taken in lawsuit?
Earnings generated after judgment are seized all the time. It’s called garnishment. State law governs what portion of the earnings are exempt, and what portion are subject to garnishment.
As a general rule, other non-– exempt assets generated post judgment also subject to execution to satisfy the judgment.
In our state, if you have a judgment rendered against you in the state district court, it automatically attaches to all real estate then or thereafter owned in the county.
Of course, there is more involved in collecting on a judgment, but this should give the OP a general idea.
As a general rule, other non-– exempt assets generated post judgment also subject to execution to satisfy the judgment.
In our state, if you have a judgment rendered against you in the state district court, it automatically attaches to all real estate then or thereafter owned in the county.
Of course, there is more involved in collecting on a judgment, but this should give the OP a general idea.