Legal Question in Bankruptcy in New York
bankruptcy asset protection
are non-qualified deferred annuities a protected asset class in a NY bankruptcy proceeding?
Asked on 8/14/08, 9:35 am
1 Answer from Attorneys
Nancy Delain
Delain Law Office, PLLC
Re: bankruptcy asset protection
The response to your question is a totally unsatisfactory IT DEPENDS -- on many undisclosed conditions. You'll need to discuss the annuities and let your attorney see the documents for your attorney to evaluate whether they are exempted from the Trustee's grasp in bankruptcy or not.
THE INFORMATION PRESENTED HERE IS GENERAL IN NATURE AND IS NOT INTENDED, NOR SHOULD IT BE CONSTRUED, AS LEGAL ADVICE. THIS POSTING DOES NOT CREATE ANY ATTORNEY-CLIENT RELATIONSHIP BETWEEN US. FOR SPECIFIC ADVICE ABOUT YOUR PARTICULAR SITUATION, CONSULT YOUR ATTORNEY.
Answered on 8/14/08, 10:49 am
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