The Massachusetts legislature has amended the statute that provides exemptions from attachment by trustee process to increase the exemption for amounts in a bank account from $500 to $2,500. The amendment also deleted a clause in the statute that provided that a joint account must be treated as if each depositor owns one-half of the amount on deposit.
Notes: The amendments were included in Section 6 of Chapter 431 of the Acts of 2010, which was signed by the Governor on January 7. The amendments will become effective on February 6, 2011. A trustee who serves a summons on a bank to attach a deposit account after that date must describe the exemption, pointing out that only funds in the account of the debtor in excess of $2,500 are subject to attachment.