Is it possible to temporarily hide an inhereited 401k to avoid paying out in a lawsuit?
I am suing my former business partner for 1/2 of the company debt and she is threatening bankruptcy. I know she inhereited a sum of money that would partially pay her part. I have researched her father’s estate filing and no record of a 401k was listed but she told me in the past that he was a Bank of America employee for 25 years and a had a large pension that she would get a part of.
Sometimes retirement accounts are judgment proof. Depends on the law where you are at. But if they are hiding these assets, that would be considered fraud. Punishable by fines and jail time.
Share on Facebook
August 17th, 2010 at 6:07 am
[...] post: Bank Of America Lawsuit | Leo News City Share and [...]