401K Withdrawl @ 341

[sadbutinneed]

I would wait until discharge/closing to do this. Otherwise I think the trustee could consider it part of your estate and give it to your creditors.

[keepinitreal]

I believe until your case is closed that your estate belongs to your trustee. There's a chance that if you buy 2 cars with cash while the trustee is in charge of your estate, that the trustee may be able to sell the 2 new cars and give your creditors the left-over money after paying you your exemptions.

I know if you inherit money after filing but before closing, there is a chance you could lose that money. Not sure if this is different.

[LALADY]

At my 341, my panel trustee and UST were very interested in my 401k withdrawal. Even called me into a separate room to discuss it at length.

[waldo22]

I have about 20K that I need to withdrawl from my 401K to buy 2 vehicles. We surrendered both of our vehicles in the chapter 7 and I plan on taking my 401K money and buying 2 vehicles for cash. Will the trustee get involved with this?

Also I'm not worried about tax implications due to my age being 25, plenty of time to start a new retirement account.