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Unlike most bankruptcy firms in the Dallas / Fort-Worth area, Allmand Law Firm, PLLC spends the time to understand the complete financial picture for every one of our clients. We provide resources, tools and advice to address the unique needs of North Texans.

Recent Posts in Retirement

  • Four Things You Shouldn't Do Before Filing Bankruptcy

    Posted By admin || 8-Jun-2010

    Many debtors ask about what they should do before filing bankruptcy; but what about the things that debtors shouldn't do before filing bankruptcy? Below is a list of things debtors should avoid before filing bankruptcy: Don't raid your retirement account in an attempt to repay debtors if you are considering bankruptcy. A matter of fact, don't raid your retirement account before bankruptcy for any ...
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  • Is My Inherited IRA Protected In Bankruptcy?

    Posted By admin || 14-May-2010

    Under 2005 bankruptcy reform, IRAs now enjoy projection when a debtor files for bankruptcy. Traditional and Roth IRA accounts with up to $1,171,650 in them are protected from creditor seizure during bankruptcy. That amount is reviewed very three years and may be increased based on the consumer price index (CPI). However, the $1,171,650 limit on IRA's doesn't include amounts rolled over from SEP ...
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  • Divorced Debtor's Interest In Marital Property Becomes Part Of Bankruptcy Estate

    Posted By admin || 27-Apr-2010

    In the bankruptcy case of Radinick, Kimberly A.; In re (Bohm, Trustee, v. Radinick) , the bankruptcy court ruled that any interest in a debtor's es­tranged spouse's property which was awarded to the debtor in a divorce action would be property of the bankruptcy estate. The details of the bankruptcy case: The debtor filed for divorce and requested equitable distribution of marital assets on Nov. ...
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  • Bankruptcy and Retirement

    Posted By admin || 4-Mar-2010

    Already U.S. life expectance is 80 years and the CDC predicts that many Americans could live to be 100 years old. But what does that extra 20 years of life mean for America's retirees? It could mean that filing bankruptcy before your retirement may be more necessary for some, as nearly 50 percent of Americans fail to properly plan for their retirement. Unlike past generations, many Americans are ...
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  • Should I Borrow Against My 401K To Pay My Bills?

    Posted By admin || 30-Nov-2009

    Many debtors finding it difficult to keep up with their bills are tempted to borrow against their retirement funds to keep their head above water. Reductions in salary and especially unemployment can appear to be legitimate reasons for raiding a retirement fund; but doing so may not offer the relief they need. Before borrowing from their retirement fund, debtors need to understand that they will ...
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  • My Employer Filed Bankruptcy, What Will Happen To My Retirement Savings?

    Posted By admin || 2-Nov-2009

    If your employer files for bankruptcy your retirement plan could be at risk. Here's what you need to know: If your employer files Chapter 7 bankruptcy, which is a total liquidation, your pension plan will be automatically terminated. Pension plans which are terminated in Chapter 7 bankruptcy are insured by the Pension Benefit Guaranty Corporation; but 401k plans are not insured. If your employer ...
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