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Can your IRA be included for settlement in a law suit in Florida?
Wiki User
∙ 15y ago
Every state has different laws regarding Individual Retirement Accounts, or IRA's. In Florida, laws have been enacted that allow IRA's to be included in law suits provided certain conditions have been met. These conditions can be extremely confusing to the layperson, and thus, anyone dealing with such an issue is encouraged to seek official legal counsel.
Wiki User
∙ 15y ago
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If you lose a civil suit can your IRA account be seized?
In general, IRA accounts are protected from creditors in the event of a civil lawsuit judgment. IRAs have certain legal protections under federal and state laws, although the extent of protection can vary. It's best to consult with a legal professional familiar with the laws in your specific jurisdiction for accurate advice.
When was the IRA peace settlement?
The 1998 Good Friday Agreement.
Can a wife be included on an IRA account of her husbands?
The wife can be added as a beneficiary. There can only be one name/social per IRA registration, thus Individual Retirement Account.
As a retired person is my pension and IRA fund subject to personal liability in case of law suit?
Unfortunately, yes, they are.
What has the author Jerome Ira Solkoff written?
Jerome Ira Solkoff has written: 'Florida elder law' -- subject(s): Legal status, laws, Older people
What has the author Ira M Robinson written?
Ira M. Robinson has written: 'Canadian urban growth trends' -- subject(s): Urbanization, Cities and towns, Growth, Land settlement patterns, Urban policy
I am being offered a lump sum settlement from my pension ...in the amount of 118.000.00...I want to use some of it to pay off a 52.000.00 loan...what is the best way to get the settlement...with the least amount of taxes taken....thanks?
You can roll it over into an IRA that way it is not taxed until you draw from it. You can also take a loan out from the IRA with very low interest.
When did Ira Hanford die?
Ira Hanford died on November 21, 2009, in Ocala, Florida, USA of lung cancer.
Can the mortgage company seize your IRA or annuity account in Florida?
My mother is 75 and is facing foreclosure on her property. She is concerned of what the mortgage company can seize of her personal property, especially her IRA, annuity and car. What are they legally allowed to take?
Can you have margin on an IRA account?
According to IRA regulations, if any part of an IRA is used as collateral, the entire IRA is considered to be distributed. Distribution of such accounts are subject to income taxes and an additional penalties. This is important because margin accounts require that you pledge your account as collateral. Your attempt to convert an IRA account into a margin account will nullify it's "qualified" status. It is for this reason that investment firms will not provide margin for a retirement account. Also, you are not allowed to have/keep a debit balance in a IRA account ***Revision Updated as Feb. 5, 2011 Select few brokerages will grant margin on IRA accounts. However, the margin capability will not be allowed leverage. The alternative purpose for seeking margin account is to avoid the settlement period (3 days, in which, the proceeds and principal cannot be used). Interactive Brokers and TD Ameritrade allow margining IRAs for settlement avoidances, only. This service has been approved be the Securities Exchange Commission. Bottom line: YES, you can margin an IRA account. NOT, for leveraging purposes.
What is offered at Ira Toyota in Millford?
Ira Toyota in Millford, Massachusetts is a car dealership offering many services. They have a large selection of automobiles both new and used, they can also arrange finance to suit your needs. In addition they maintain a stock of accessories and spare parts for their customers.
Is deferred compensation considered earned income for IRA contribution limits?
Unfortunately Deferred Compensation is not considered earned income for IRA deduction limits. See IRS publication 590, page 7, table 1-1. Here it specifically has Def Comp plans listed in the column of income NOT included when figuring your IRA deduction.
