GAR - Seizing Funds & Freezing Accts

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Seizing Funds

tee-up topic

1. Methods for seizing funds:  Whether moving to a GL, or seizing in the account
   
2. Freezing accounts for continuous levies:
   
3. Compliance with requirement to seize a multiple:  

Seized Amount Multiple

The Seized Amount Multiple field is designed to help you comply with specific state laws—such as Hawaii (1.2x) or Florida (2x)—that require an asset hold greater than the base levy amount.

When Visible: This field appears in a matter only if it has been enabled for that specific Subtype. If you do not see the field on your screen, please check with your Administrator to ensure the Subtype configuration is correct.

When Editable:  The field is editable only when the matter status is TO DO Seize Assets. If your matter is in a different status, change the status to TO DO Seize Assets and click SAVE. The field will then be available to edit.

How it Works

When a matter is has a multiple more than 1, the following features are automatically enabled:

• Automated Calculation: The system uses the multiplier to calculate the total amount to hold. This allows the Seized Amount to exceed the Levy Amount without triggering validation errors or requiring manual overrides.

• The "Hawaii Rule" (Rounding Down): To ensure strict legal compliance and prevent freezing more assets than legally allowed, the system always rounds down to the nearest penny.
  

• Example: A $1,234.58 levy with a 1.2x multiplier results in $1,481.496. Instead of rounding up to $1,481.50, Safari will ensure the amounts seized does not exceed $1,481.49, to ensure you never exceed the legal maximum.

• Partial Release Logic: When you perform a partial release, the system uses the defined multiple to automatically calculate the correct amount to be released, maintaining the required statutory ratio throughout the life of the matter.
  

Efficiency Tip: To save time and reduce manual entry errors, your Administrator can set a default value at the Subtype level (e.g., 2.0 for a Subtype created specifically for Florida garnishments). This ensures the field is pre-filled correctly every time you create a new matter for that Subtype.

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