Can an IRA account be taken by a judgment creditor?

Previous | Next
 rated by 0 users
Latest post Sun, Dec 21 2008 9:06 PM by adjuster jack. 3 replies.
  • Sun, Dec 21 2008 1:50 AM

    Question [=?] Can an IRA account be taken by a judgment creditor?

    My wife has defaulted on a number of accounts with credit card companies due to loss of job and some other circumstances.
    She has a 2 IRA accounts (Roth and traditional) with one of a major brokerage firms.
    Would these accounts be vulnerable if a creditor/s sue and obtain judgment?
  • Sun, Dec 21 2008 11:05 AM In reply to

    re: Can an IRA account be taken by a judgment creditor?

    Generally, no.

    But there may be different levels of protection depending on your state law.

    And since you haven't posted your state, in spite of the instructions to do so, can't help you there.

    You can look up your state laws on judgment enforcement and exemptions at:

    www.findlaw.com

    • The right of the people 
    • to keep and bear arms,
    • shall not be infringed.
  • Sun, Dec 21 2008 7:06 PM In reply to

    re: Can an IRA account be taken by a judgment creditor?

    I'd have to add: we are in California.
  • Sun, Dec 21 2008 9:06 PM In reply to

    re: Can an IRA account be taken by a judgment creditor?

    OK.

    Exempt.

    • The right of the people 
    • to keep and bear arms,
    • shall not be infringed.
Page 1 of 1 (4 items) | RSS

My Community

Community Membership New Users: Search Community