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Money and Finances
Reply to "Are Retirement Funds Protected from Lawsuits?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Btw whether anyone could or couldn't attach retirement savings is moot. You can be hit with a judgment of any amount regardless of your ability to pay. They can garnish future wages. [/quote] While this is technically true, as a practical matter no one is going to go through the cost of litigating to get at assets beyond the insurance policy limits unless they have a basis to believe they'll actually be able to recover the judgment. If OP is retired so there are no wages to garnish and OP doesn't have significant accounts to which a judgment could attach, an injured party is unlikely to pursue OP beyond policy limits.[/quote] I'm a few years from retirement. Sounds as if it might be worthwhile for an umbrella policy for the near future to protect wage garnishment and then drop it (assuming IRAs are protected).[/quote]
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