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Reply to "Are Retirement Funds Protected from Lawsuits?"
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[quote=Anonymous][quote=Anonymous]No, they aren't safe. My retirement accounts were on the table as net worth when I had to file bankruptcy to get rid of an unfair judgement.[/quote] When did this happen? It looks like Virginia may have changed their law in 2007 to provide heightened protection to non-ERISA accounts. The difficulty in getting a clear answer to this question is that the statutory scheme is difficult to tease out (and I'm not going to take the time to do it as a pro bono effort), and a lot of the analysis you'll find on the internet focuses on bankruptcy laws, even when they refer generally to "creditors," and judgment creditors may be treated differently from bankruptcy creditors depending on context and state law.[/quote]
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