QUESTION
Will my 401k and Individual Retirement Arrangement be exempt from my bankruptcy?
Asked on May 22nd, 2015 on Bankruptcy - California
7 ANSWERS
Bankruptcy Attorney serving Madison, WI
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Richard B. Jacobson & Associates, LLC
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That would be a yes.
Answered on Aug 28th, 2015 at 8:18 PM
Debt Relief Attorney serving Anaheim, CA
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Marlin Branstetter Attorney at Law
That would be a yes.
Answered on Aug 28th, 2015 at 8:18 PM
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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Yes, 401(k) and IRA accounts are exempt (except in rare circumstances like more than the allowed amount was deposited)
Answered on May 25th, 2015 at 4:38 AM
Bankruptcy Attorney serving Livonia, MI
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Charles J. Schneider, P.C.
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Yes if it is within dollars limits.
Answered on May 22nd, 2015 at 4:22 PM
It is up to you to claim any exemption you have available as provided by state law. If you are eligible to use Nevada exemptions, these laws protect all of your retirement accounts.
Answered on May 22nd, 2015 at 2:47 PM
Complex Litigation Attorney serving Costa Mesa, CA
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Thomas Vogele & Associates, APC
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Yes, all qualified retirement plans are exempt in bankruptcy. The same is true for most disability plans. Check with your bankruptcy lawyer for more specific information. Good luck!
Answered on May 22nd, 2015 at 1:50 PM