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401K Plan Protection - Chapter 7
In order to make the transaction to the individual spouse they had spouse open a 401k under his name and then placed the wife's 401k into a traditional IRA under the new 401k. So, technically, the 401k was transformed into a traditional IRA under a 401k account to make it work. Still good
On Wednesday, January 27, 2016 11:28 AM, "jesseelaw@aol.com [cdcbaa]" wrote:
If it is still in a 401(k) after the transfer it is still subject to the ERISA protections.Mark T. Jessee
Law Offices of Mark T. Jessee
"A Debt Relief Agency"
50 W. Hillcrest Drive, Suite 200
Thousand Oaks, CA 91360
(805) 497-5868 (805) 497-5864 (Facsimile)
baa@yahoogroups.com writes:
I have a potential client who received his wife's 401k retirement (employer based not personal investment) in their divorce settlement via a QDRO. I need to know if the the transfer from the retiree to the (ex) spouse would be a sufficient basis for the trustee to claim its no longer exempt and, axiomatically, be unprotected in a Ch. 7 bankruptcy.
Regards,
Stephen Stern, Esq. Stephen Stern Law Firm (805) 543-5297
The post was migrated from Yahoo.
If it is still in a 401(k) after the transfer it is still subject to the ERISA protections.
Mark T. Jessee
Law Offices of Mark T. Jessee
"A Debt Relief Agency"
50 W. Hillcrest Drive, Suite 200
Thousand Oaks, CA 91360
(805) 497-5868 (805) 497-5864 (Facsimile)
In a message dated 1/27/2016 11:14:33 A.M. Pacific Standard Time,
cdcbaa@yahoogroups.com writes:
Dear Colleagues:
I have a potential client who received his wife's 401k retirement
(employer based not personal investment) in their divorce settlement via a QDRO. I
need to know if the the transfer from the retiree to the (ex) spouse wouldbe a sufficient basis for the trustee to claim its no longer exempt and,
axiomatically, be unprotected in a Ch. 7 bankruptcy.
Regards,
Stephen Stern, Esq.
Stephen Stern Law Firm
(805) 543-5297
If it is still in a 401(k) after the transfer it is still subject to the
ERISA protections.
Mark T.
JesseeLaw Offices of Mark T. Jessee"A Debt Relief Agency"50 W.Hillcrest Drive, Suite 200Thousand Oaks, CA 91360(805) 497-5868 (805)
497-5864 (Facsimile)
In a message dated 1/27/2016 11:14:33 A.M. Pacific Standard Time,
cdcbaa@yahoogroups.com writes:
The post was migrated from Yahoo.
Dear Colleagues:
I have a potential client who received his wife's 401k retirement (employer based not personal investment) in their divorce settlement via a QDRO. I need to know if the the transfer from the retiree to the (ex) spouse would be a sufficient basis for the trustee to claim its no longer exempt and, axiomatically, be unprotected in a Ch. 7 bankruptcy.
Regards,
Stephen Stern, Esq.Stephen Stern Law Firm(805) 543-5297
The post was migrated from Yahoo.