Illinois Compiled Statutes 735 ILCS 5/12-704 – Exemptions from garnishment
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Terms Used In Illinois Compiled Statutes 735 ILCS 5/12-704
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
Benefits and refunds payable by pension or retirement funds or systems and any assets of employees held by such funds or systems, and any monies an employee is required to pay to such funds or systems are exempt and are not subject to garnishment under Part 7 of Article XII of this Act.