Can monies withdrawn from my 401K and put into my bank account be seized by a creditor who has a judgement?
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Can monies withdrawn from my 401K and put into my bank account be seized by a creditor who has a judgement?
Asked on February 9, 2012 under Bankruptcy Law, New York
Answers:
Marshal Coleman / Marshal Coleman, P.C.
Answered 12 years ago | Contributor
Yes, the money taken from your 401K can be seized if placed in a non-retirement account bank account. You can, however, still claim that the funds are exempt, but you will have to prove that the funds in the bank account came from the 401K.
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