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401K - Is that protected and how to list

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    401K - Is that protected and how to list

    Which schedule do you write your 401K plan (they amount you have invested) and I am pretty sure it is protected, but want to make sure.

    thanks

    #2
    Your 401K is totally exempt--and if you start thinking of borrowing against it or cashing it out to pay your debt, I'm going to dome through the Internet wires and cut your fingers off!! Just kidding!! That is one of the things we did--part of what got us our 17K IRS penalty that is not discharged.
    "To go bravely forward is to invite a miracle."

    "Worry is the darkroom where negatives are formed."

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      #3
      but i want to know if it is listed in the personal property and do I have to listed under exempt or it is automatically exempted without me listing it?

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        #4
        I'm not up on the forms that much but it is listed as an exempt asset just as a life insurance policy is. Will you be going pro se BTW? If not, these are the important things that your lawyer needs to advise on.

        See this link on that subject. http://www.moranlaw.net/retirement.htm
        'Hub
        If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.

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