[CLBS] claiming exemption in wages even if they were deposited in 529 Plan?

[Ryan F]

Was the money all paid into the 529 in the last two years?

On Wed, Nov 30, 2016, 2:26 PM Randy French <rfrench at rfrenchlaw.com> wrote:

> Jon
>
> At some point, the wages lose their character as wages.  See the attached
> decision.
>
> Is there a reason why the funds are not exempt as a 529 college savings
> plan
> within the language of 11-604A(4):  The term "employee benefit plan" also
> means any rights accruing on account of money paid currently or in advance
> pursuant to a college savings program described in chapter 54, title 33,
> Idaho Code.
>
>
> Thanks.
> Randy French
>
> Law Office of Randal J. French, P.C.
> Attorneys at Law
> AP.O. Box 836 PBoise, ID 83701 B(208) 859-6881
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> -----Original Message-----
> From: CLBS [mailto:clbs-bounces at admws.idaho.gov] On Behalf Of Jon Wilson
> Sent: Tuesday, November 29, 2016 2:50 PM
> To: clbs at admws.idaho.gov
> Subject: [CLBS] claiming exemption in wages even if they were deposited in
> 529 Plan?
>
> Can a debtor claim earnings deposited in a 529 Plan (529 Plan which allows
> funds to be withdrawn by the debtor) and which are traceable to debtor's
> "disposable earnings" (11-206) be claimed 75% exempt under 11-605(11)?
>
>
>
> Thanks ahead of time for all insight you can provide.
>
>
>
> Jon
>
> Jon R. Wilson
>
> Attorney at Law
>
>
>
> Wilson Law Offices, P.C.
>
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> Email:  jon at boiselaw.org <mailto:jon at boiselaw.org>
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