Listing 401k on Schedule A

Date: Thu, 01/21/2010 - 06:58

Submitted by mvezza
on Thu, 01/21/2010 - 06:58

Posts: 67 Credits: [Donate]

Total Replies: 3

"ERISA-qualified pension plans are excluded from the bankruptcy estate. Patterson v. Shumate, 112 S.Ct. 2242 (1992). Accordingly, a debtorâ€™s interest in such a plan should be reported with a statement that it is not part of the estate. To avoid misleading creditors or the trustee, no dollar value should be reported. However, it is the debtor's responsibility to ascertain whether the debtor's personal pension plan is ERISA-qualified."

[LEFT]So I should list a $0 value on Schedule B but then list the actual value on Schedule C?

And as far as description and property I should just list which firm is maintaining the account? i.e. Merril Lynch?
[/LEFT]

No info, anyone?

lrhall41

Submitted by mvezza on Thu, 01/28/2010 - 21:05

( Posts: 67 | Credits: )

We filed chapter 7 last year and the lawyer told us our retireme

We filed chapter 7 last year and the lawyer told us our retirement accounts could not be touched.

lrhall41

Submitted by on Fri, 01/29/2010 - 06:49

( Posts: | Credits: )

Yes, but if I understand that law correctly then I am to list a

Yes, but if I understand that law correctly then I am to list a $0 on Schedule B and list the actual amount on Schedule C?

lrhall41

Submitted by mvezza on Fri, 01/29/2010 - 21:44

( Posts: 67 | Credits: )