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TJ, Esq.
TJ, Esq., Attorney
Category: Bankruptcy Law
Satisfied Customers: 12407
Experience:  JD, MBA
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I haven't been able to reach my attorney today. I am very

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I haven't been able to reach my attorney today. I am very stressed out about my Chapter 7 Bankruptcy. The court trustee is trying to take my IRA because I inherited it from my husband who died in 2003. Can he do this?
JA: What state are you in? And has anything been officially filed?
Customer: Oklahoma, I received a court document today stating that the trustee says since I inherited the IRA it is not exempt from using it to pay my creditors. It is a monthly pay out annuity with guaranteed monthly income for life.
JA: Has anything been filed in civil court? If so, what?
Customer: No nothing has been filed in civil court and no creditors showed up for the creditors meeting I had with the trustee on August 22
JA: Anything else you want the lawyer to know before I connect you?
Customer: I don't think so.
Hello and thank you for the opportunity to assist you. My name is ***** ***** I will do my very best to help if I can. Please bear with me a few moments while I review your question, conduct any necessary research, and type a response. Thank you.
Customer: replied 30 days ago.
Ok
Customer: replied 30 days ago.
No I don't have enough money in my account for $59 charge.

Hi again.

If you rolled over the IRA into your own IRA, then it should be protected just as your own IRA would be protected. If you did not roll over the IRA into your own IRA, however, then it is not protected from your creditors in a bankruptcy. So the answer to your question depends on the facts in your case. I would expect that your attorney would have researched this issue before you filed the case.

Does that answer your question(s)? Please let me know if you need clarification, as I am happy to continue helping you until you are satisfied. Also, please remember to provide a positive rating via the stars (and note that your positive rating is the only way that I'll get credit for helping you, so it is much appreciated!). Thank you. :)

TJ, Esq. and other Bankruptcy Law Specialists are ready to help you
Customer: replied 30 days ago.
Thank you very much for your time and your answer. The IRA was rolled over into another IRA in my name. I am 71 years old and having been receiving monthly payments since 2005. I have been so stressed about this today and my attorney won't be available until Monday. Thank you and I will give you a 5 star rating. This helps ease my mind somewhat.
Customer: replied 24 days ago.
Your information was very helpful. My attorney and I have been able to solve this problem. I have been able to locate contracts, and other files to prove my case with the information you gave me.
Glad to hear that! :)