Hello again, Judi, and thank you for requesting me.
What type of retirement account is it, an IRA, 401(k) or something else? Is it through your employment with the state or federal government?
I look forward to assisting you as soon as I have received this information. Thank you.
they are IRA's, 401ks...from my 50% of the assets from the divorce settlement. This is the only savings I have...I had them rolled over to Fidelity.
Hello again, Judy, and thank you for clarifying that.Yes, these would typically be exempt from attachment if the creditor obtains a judgment against you. Once the funds are distributed to you, then they may be attached normally, but while they remain in the accounts, they could not normally be seized by a judgment creditor based on the following language in the NC code:(9) Individual retirement plans as defined in the Internal Revenue Code and any plan treated in the same manner as an individual retirement plan under the Internal Revenue Code, including individual retirement accounts and Roth retirement accounts as described in section 408(a) and section 408A of the Internal Revenue Code, individual retirement annuities as described in section 408(b) of the Internal Revenue Code, and accounts established as part of a trust described in section 408(c) of the Internal Revenue Code.Here is a link to the code:http://law.onecle.com/north-carolina/1c-enforcement-of-judgments/1c-1601.html
I hope this helps clarify the situation for you. Please remember to rate my service once you have all the information you need. If you have any other questions, please ask me – I’ll be happy to respond. Thank you!
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).