Legal Question in Credit and Debt Law in Georgia
IRA safe from garnishment/collection?
My ex-husband is preparing to sue me for (1/2) college costs for our daughter. I've paid the most I can, but have fallen behind. The only things I have solely in my name is a checking account with about $50 average and a Roth IRA. The IRA is currently valued at about $10,000 and has an addition of about $333 per month from my current husband's checking account (it is a ''spousal Roth IRA''). My only income is disability pay from the VA. My question, is the Roth IRA touchable?
Asked on 3/04/07, 12:57 pm
1 Answer from Attorneys
John Jackson
Law Office of John A. Jackson, P.C.
Re: IRA safe from garnishment/collection?
IRA, pensions and 401 Ks are generally not reachable by creditors. Except in cases of child support. If this is considered to be child support by the court you may have to pay.
Answered on 3/04/07, 5:36 pm