Virginia  |  Bankruptcy

Legal Question

Asked on: 7/10/01, 1:00 am

IRA''s exempt federal law not virginia

Are IRA''s exempt under Federal law even though Virginia has opted out of the federal bankruptcy scheme Ifailed to list clients IRA on schedule and trustee has objected to amendment saying not filed within 5 day window. If not exempt under some other exemption other than Virginia statute I'm in trouble.

1 Answer

Answered on: 7/10/01, 5:08 pm by Daniel Press

Re: IRA''s exempt federal law not virginia

An IRA is not exempt under federal non-bankruptcy law. BUT the 5-day window should not apply because it is not a 34-4 homestead deed issue. See the Adamar of NJ v. Heidel cases out of the ED Va (published, maybe) and the 4th Cir. (unpublished).

Did you find this answer helpful?

0 Users found this answer helpful.

0 Attorneys agree with this answer.

Chung & Press, P.C. 6718 Whittier Ave., Suite 200 Mclean, VA 22101

Other answers from this attorney

Didn't find what you were looking for? Ask an Attorney!

Get answers from the top Attorneys
Ask Question

130 Answers given in the last few hours.

8627 Active attorneys ready to answer your question

Search Past Answers:
  Advanced Search