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II am retired,how can I protect my IRA retirement CD in case of a personal lawsuit/I rented a truck and my daughter drove it. She was involved in an accident. my car insurance didn't cover the accident now there is a possible personal lawsuit against me. I have a IRA retirement CD, I AM 67 years old.I want to know if they can take my CD to pay a personall injury lawsuit/ Attorney answers (2)
Reputation Level 9
Answered almost 3 years ago.
Admiralty / Maritime Attorney in Melbourne, FL.
You may want to contact a lawyer to see if your insurance company is improperly excluding coverage under the contract. At any rate, generally retirement accounts are exempt from the action of creditors under Federal Law, unless my memory is playing tricks on me. I have not researched this issue for a while so you may want to check with a local attorney.
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Reputation Level 17
Answered almost 3 years ago.
Personal Injury Lawyer in San Antonio, TX.
I agree with my colleague, you have protected investments not subject to collection actions. Nevertheless, contact a local attorney.
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