Legal Question in Real Estate Law in Nebraska
401K and Garnishment
I live in Nebraska. I have a lawsuit against me for $28K from one of my mortgage lenders. If the plantiff wins and then requests garnishment, can my 401K funds be garnished? I realize my paycheck and bank accounts can be garnished but was curious about 401K accounts.
Asked on 12/12/07, 2:59 pm
1 Answer from Attorneys
Duke Drouillard
Drouillard Law, LLC
Re: 401K and Garnishment
It depends on your level of control over the 401K funds. If an employer sponsored 401K plan under ERISA, those funds are generally protected against garnishment. Ask the lawyer who is defending the lawsuit for you to investigate.
Answered on 12/13/07, 4:03 pm
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