27 Oct Is My Retirement Check Safe from the Bankruptcy Trustee in Kansas?
Probably, but only your bankruptcy attorney can tell for sure if your retirement check is safe from the bankruptcy trustee when you file bankruptcy in Kansas claiming the Kansas property exemptions.
The Kansas exemptions protect your Social Security retirement benefits and retirement benefits from the federal government and the State of Kansas. Also protected are qualified retirement plans with private employers such as defined pension plans, 401(k) plans, profit sharing and employee stock option plans. Kansas law protects individual retirement accounts and Roth IRAs.
A 503(b) annuity for healthcare workers and educational employees is protected but if your retirement check is a distribution from a non-qualified annuity, your benefits are not exempt in Kansas. Again, only your bankruptcy attorney can tell for sure.
What property is exempt in bankruptcy and removed from the reach of the bankruptcy trustee is a complex area of law requiring the expert analysis by a bankruptcy attorney. You should not try to claim exemptions yourself.
In my experience, debtors who try to save money by not hiring a bankruptcy attorney, lose property because they do not have the expertise to identify their property rights and claim the proper exemptions in bankruptcy.
Latest posts by Jill Michaux (see all)
- Last Day to Comment on New Chapter 13 Plan, Petition, Schedules, Means Test, Bankruptcy Rules Changes - February 17, 2014
- Does Chapter 13 Mean Paying All Creditors Back? It Could Be Zero to Unsecured Claims - June 18, 2013
- Random Bankruptcy Audits Stopped - April 24, 2013
- What’s Baseball Got to Do with Bankruptcy? - March 31, 2013
- Bankruptcy Code Dollar Figures Raised 6.3% for Inflation - February 21, 2013