Will I Lose My Retirement or 401k Account in Bankruptcy?

Submitted by Anonymous (not verified) on Fri, 12/07/2012 - 20:20
Description: 

If you file bankruptcy in Utah, you will not lose your retirement or 401k account in bankruptcy.  Retirement accounts are exempt from liquidation under Utah's exemption law, which means that the bankruptcy trustee may not take that money from you.  However, you should not try to deposit a large amount of money into your retirement account before filing, since it is possible for a trustee to take that amount.  Be sure to consult a bankruptcy attorney before putting in or taking out money from your retirement account prior to filing for bankruptcy.Adam Brown is a bankruptcy attorney for Dexter & Dexter, a debt relief agency helping people file for bankruptcy.