[quote=edna_mode]Another interesting twist is the mention that the profiled person has been “socking away money for retirement”. If she was doing it in an ERISA-qualified plan (most pensions and 401(k) are), then that money is largely JUDGEMENT-PROOF. A quick google suggests the only way for another party to take away retirement accounts is for family support (http://www.dol.gov/ebsa/faqs/faq_compliance_pension.html). The Supreme Court upheld that IRAs are similarly shielded in 2005.(http://www.washingtonpost.com/wp-dyn/articles/A24753-2005Apr4.html)
So another reason to top up those retirement accounts every year — not only do you diversify your taxation liability, you protect some of your assets against bankruptcy, lawsuits, etc.[/quote]
