Legal Question in Bankruptcy in California
Bankruptcy
In the state of California will my 401K plan be
considered an asset if I file bankruptsy.
Asked on 4/26/99, 12:03 am
1 Answer from Attorneys
Mark Markus
Law Office of Mark J. Markus
Re: Bankruptcy
Yes, anything you own or have a right to is an asset, regardless of what state you live in. I think the question you meant to ask is whether or not it is exempt. In California, you can exempt the amount of a 401k which is reasonably necessary for your future maintenance and support, considering your age, future earning capacity, anticipated expenses, etc. If you would like a more comprehensive consultation, please visit my web site and give me a call. Best Regards, Mark
Mark Markus
Law Office of Mark J. Markus
11684 Ventura Blvd., Ste. 403
Answered on 4/26/99, 8:23 pm
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
