Legal Question in Bankruptcy in Kentucky

Ira

Since I know that I will have to file for bankruptcy, what will happen to my IRA? I there any way to cash it in without paying penitilies? Or will I loose all of it?


Asked on 2/05/08, 7:42 pm

1 Answer from Attorneys
E. Brian Davis Davis Law Office

Re: IRA

Do not do anything about the IRA until you talk with bankruptcy counsel. In most cases, you can keep ALL of the IRA (as long as it is in an IRA). Taking the money out might well cause you to loose it.

Many bankruptcy lawyers offer free initial consultations. Make sure you get someone who regularly practices in the area ...

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Answered on 2/05/08, 9:30 pm


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