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Ask the Hammer: Can I Transfer My Assets to Protect Them If I'm Sued?

Jeffrey "The Buckinghammer" Levine of Buckingham Wealth Partners answers a Retirement Daily reader's question about transferring assets in order to protect them if the reader were to be sued.

In this episode of Ask the Hammer, the Retirement Daily reader's question is:

I just got into a car accident, and I think I’m going to be sued. Can I transfer my assets into a trust or somewhere else to avoid them being taken?

Our expert, Jeffrey "The Buckinghammer" Levine of Buckingham Wealth Partners, met with Retirement Daily editor Robert Powell to answer this reader's question. 

Here's what Levine talked about:

  • High-level guidelines for this question
  • What fraudulent conveyance is and how it applies to this case
  • How different assets — such as 401(k)s and IRAs — are or are not protected, as well as what they are protected by
  • How joint accounts factor into the equation

Stay tuned for more Ask the Hammer!


Got questions?

Email AsktheHammer@BuckinghamGroup.com


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