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Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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I heard that there might be a waiting period that the judgment

Resolved Question:

I heard that there might be a waiting period that the judgment folks would have window to grab my retirement monies when transfering one lump sum to IRA. In other words when I transfer the one lump sum to the IRA it wouldn't be secure for a period of time like 10 days or 30 days. Do you know if this is true?
Submitted: 6 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 6 years ago.

So sorry to hear of this dilemma. If my answer is not clear to you, please ask me for clarification by using the reply button.

Monies transferred directly from one exempt asset to another exempt asset would retain their exempt status

The retirement funds could lose their exempt status if the retirement funds were transferred to a nonexempt account prior to being transferred into the IRA
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