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Ratings. Guidance. The Right Lawyer.
II am retired,how can I protect my IRA retirement CD in case of a personal lawsuit/
Chicago, IL
Viewed 98 times.
Posted 7 months ago in Lawsuits / Disputes
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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/
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Answers (2)
David Jay Gorewitz
This attorney is licensed in Florida and 2 other states.
Posted 7 months ago.
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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.
Edgardo Rafael Baez
This attorney is licensed in Texas.
Posted 7 months ago.
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I agree with my colleague, you have protected investments not subject to collection actions. Nevertheless, contact a local attorney.
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