Legal Question in Bankruptcy in California
bankruptcy exemption: IRA
I retired from the fed gov't. I rolled over my Thrift Saving (like 401k) and put it to my own iRA account. I understand the bankruptcy law states that 401k is exemption from bankruptcy. Now that I rolled over my 401k and handle my IRA myself, will the judge counts it as an asset and forces me to withdraw it? I also have Roth IRA, will the judge forces me to withdraw it too? Thank you.
Asked on 7/04/08, 1:38 am
1 Answer from Attorneys
Brian Whitaker
Lifeline Legal, LLP
Re: bankruptcy exemption: IRA
Your IRA is also exempt.
Answered on 7/04/08, 10:28 pm
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