Legal Question in Bankruptcy in South Dakota

Company went bankrupt.

U.S. Bankruptcy Trustee has taken charge of distributions of any funds remaining in my previous employers 401k plan with Vanguard. The plan is an employer sponsored plan - how can the Trustee take control of my money?


Asked on 10/07/08, 3:12 pm

1 Answer from Attorneys
Stephen Starr Starr & Starr, PLLC

Re: Company went bankrupt.

Retirement assets, such as 401(k) plan assets, are typically exempt subject to certain exceptions and qualifications. You need to consult with a bankruptcy attorney in the jurisdiction where you are located. Since you say you are in SD, you can try calling the Legal Referral Service of the SD State Bar at 8009522333 or online at

http://www.sdbar.org/lawyereferral/lawyereferral.shtm

You can also try the National Association of Consumer Bankruptyc Attorneys (NACBA) that has a number of attorneys in SD. The link to their SD members info. is:

http://www.nacba.org/attorneyfinder/?l=8&q=South+Dakota

Good luck,

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Answered on 10/07/08, 4:25 pm


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