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Philip R. Boardman, Attorney at Law | Phil Boardman
Yes, ERISA qualified retirement accounts are protected.
Answer Applies to: Virginia
Replied: 11/7/2011
Law Offices of David H. Relkin | David H. Relkin
This involves a question of whether the State Law of Virginia considers a 401k property of the estate. In NY it is generally not. The question is state-specific.
Answer Applies to: New York
Replied: 11/7/2011
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
Yes, it is 100% protected.
Answer Applies to: California
Replied: 11/5/2011
Gregory J. Wald, Attorney at Law | Gregory J. Wald
401(k) funds are protected in bankruptcy.
Answer Applies to: Minnesota
Replied: 11/4/2011
Carballo Law Offices | Tony E. Carballo
401k accounts are protected by federal exemptions that are applicable in all states and there might be additional protection of such accounts in Virginia. In fact, the 401k is not even part of the bankruptcy estate created when you file for bankruptcy. Therefore, you need not fear losing the money in the 401k anywhere in the U.S. you can file. You must report it in the bankruptcy petition and exempt it anyway under the federal retirement account exemption.
Answer Applies to: California
Replied: 11/4/2011
Dan Wilson Bankruptcy | Dan Wilson
In Colorado 401k funds are exempt. I think that is due to federal statute so that should be the case in Virginia as well.
Answer Applies to: Colorado
Replied: 11/4/2011
Weber Law Firm, P.C. | William Weber
Yes. A 401K plan protected if you I file bankruptcy in Texas and use the Texas exemptions. I have no idea about Virginia, which would probably have a different result. Exemptions are complex, and you should consult with a qualified attorney in your location to evaluate your case.
Answer Applies to: Texas
Replied: 11/4/2011
Heupel Law | Kevin Heupel
Yes, 401k plans are 100% protected, and thus, you will not lose it if you file bankruptcy in any state.
Answer Applies to: Colorado
Replied: 11/4/2011
Bankruptcy Law office of Bill Rubendall | William M. Rubendall
401K plans are fully protected under federal law in bankruptcy.
Answer Applies to: California
Replied: 11/4/2011
The Law Office of Darren Aronow, PC | Darren Aronow
You should speak to a Virginia attorney, but in NY it would be an exempt asset.
Answer Applies to: New York
Replied: 11/4/2011
Moore Taylor & Thomas PA | Jane Downey
You'll need to ask a VA lawyer or check the VA exemption statute. They are exempt in SC.
Answer Applies to: South Carolina
Replied: 11/4/2011
Indianapolis Bankruptcy Law Office of Eric C. Lewis | Eric Lewis
Your 401(k) should be exempt from the bankruptcy estate under applicable state and federal exemptions.
Answer Applies to: Indiana
Replied: 11/4/2011
Law Office of Lynnmarie A. Johnson | Lynnmarie Johnson
In Michigan it is, but you should check with an attorney in Virginia.
Answer Applies to: Michigan
Replied: 11/4/2011
Harkess and Salter, LLC | Stephen Harkess
Yes. As long as you leave your money in the account, it is protected.
Answer Applies to: Colorado
Replied: 11/4/2011
