lif from court ordered pension division and bankruptcy

January 26th, 2016 by Questions

Can they take a lif that I received from ex spouse pension division in court.

Questions

One Response to “lif from court ordered pension division and bankruptcy”


, Doug Stuive, CA | Trustee | CIRP said:

In bankruptcy there are many assets that are protected under federal and/or provincial legislation. A Locked-In Income Fund is generally a protected asset.

If you are of an age where you are receiving monthly payments from this pension as part of your income then these monthly payments would count as income earned on a monthly basis. The balance of the pension would not be collapsed.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)