Subject To Judgements

[explorerfl]

What is the name of your state? Florida

Can anyone tell me if an IRA rollover from a 401K plan is subject to attachment in a civil lawsuit judgement?

I want to rollover my company 401K money now that I'm retired. I am looking to roll it over directly into an IRA to avoid any taxes for now.

Can the IRA money be subject to judgement if I were sued and lost?

 

[JETX]

Can anyone tell me if an IRA rollover from a 401K plan is subject to attachment in a civil lawsuit judgement?

I want to rollover my company 401K money now that I'm retired. I am looking to roll it over directly into an IRA to avoid any taxes for now.

Can the IRA money be subject to judgement if I were sued and lost?

Sorry, but I doubt that any responsible member of this forum would knowingly help you avoid paying a judgment. Other than that, the simple 'advice' is to not break the law or cause damage to anyone.... thereby avoiding the concern for a possible judgment against you.

 

[tranquility]

Federal law under ERISA protects 401(k)s. IRAs do not fall under ERISA and are not protected federally.

However, in Florida, Florida Statute 222.21(2)(a) provides protection for "any money or other assets payable to participant or beneficiary in a qualified retirement or profit sharing plan is exempt from all claims from creditors of the beneficiary or participant." You will have to decide if that applies to your IRA in the situation you are envisioning.

 

[explorerfl]

Subject to judgements

Thanks for the reply. Obviously, JETX hangs around with the wrong crowd. I see nothing wrong with attempting to position your wealth PRIOR to running into some suit-happy litigant.
Asking a question such as mine shouldn't be taken as an attempt to avoid a judgemen that has never been issued.

Thanks again for the helpful reply.