What is a safe time frame in Ca from the time that you depoited money to a ROTH IRA and Fililing?
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This is a question for your attorney. If your state exemptions don't specify a timeframe, the lawyer will know what local trustees consider abuse. -
I was told by my lawyer that Roth (or regular) IRA deposits were not considered abuse, and that it was actually considered to be pre-bankruptcy planning. Remember, IRAs are exempt. You can convert non-exempt assets to exempt, and it is inside of the law, and good planning. You can only put in $5000 for you, and $5K for a spouse.
You may want to check with your lawyer, just in case my advice was state specific.Filed 8/08 - Discharged 11/08! Not tracking FICO.
Pre-Bankruptcy Net Worth: -$72,000... Today's net worth: $142,000.
If your FICO score just went higher than your net worth, and you are happy about this, you might have a financial problem!Comment
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ya i have 4000 in a stock account right now and if we file in July then i want to move it to an IRA for 2009 so it is protected plus a good way to start saving The nice thing about a roth ira is you can withdraw the contrbution with out penalty as you have already paid taxes on it.
I need to liquidate it first as IRA deposits must be made in cash. So I was going to liquidate in January and move it from my stock account to the ROTH Account. But dont want to get in trouble with the trustee. I will not move anything after march just to be on the safe side.Comment
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