My husband has about $20,000 in a 401 k for his pension. He has another 30 years before he can retire and at least 25 before he can retire early and start to collecting on it. How does this work in the BK, is this an asset and does it need to be exempted?
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I do not recall seeing anything on my paperwork in regards to my 401k. However I do know that it is exempt.
Perhaps someone will chime in here about if it goes on the paperwork.8-07-09-filed Chapter 7
11-18-09-DISCHARGED!!
Life is not what challenges you face, but how you face those challenges. -
Yes, 401K's are assets, and yes, you need to apply an exemption. But nearly every state and federal exemption sheme exempts 401K to 100%, or some rediculously high value.Comment
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