Will his pension and IRA be hurt by my bankruptcy? 2 Answers as of August 22, 2010

Will the pension plan and Individual Retirement Arrangement of my husband be hurt by my bankruptcy?

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Diefer Law Group, P.C.
Diefer Law Group, P.C. | Abel Fernandez
No. These types of plan should be protected in a bankruptcy. However, there are limitations. You should contact an attorney to obtain advice in his particular case.
Answer Applies to: California
Replied: 8/22/2010
Law Offices of Michael J. Berger
Law Offices of Michael J. Berger | Michael J. Berger
Pension plans and IRA accounts are exempt in an amount reasonably necessary for retirement. Assuming that your husband has not been taking money in and out of his IRA and pension plan accounts, and assuming that there are no unusual circumstances that you have not told me about, your bankruptcy filing should not have any effect whatsoever on your husband's IRA and pension plan. For advice that is specific to your situation, please call me.
Answer Applies to: California
Replied: 8/21/2010
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