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Subject:  IRA, 401K, and Liability.. Date:  9/18/1999  7:34 PM
Author:  BGPenhollo Number:  13950 of 102458

I am unsure where this question belongs but it does touch on retirement investment accounts.

Someone indicated that IRA's, or 401K's are not touchable in a bankrupcy. My question concerns whether I need an umbrella insurance policy. My major assets are my home, my 401K, company stock options, and my IRA's.

If you take out my home, IRA, and 401K, my net worth might reach $100K if my vested but unexercised stock option are included. Toss my retirement plans and home into the mix and my networth is many time more than this.

I would hate to have an auto accident or home accident and have these retirement funds put into jeopardy through a lawsuit or having to claim bankrupcy. I've been looking into a 1/2 million to $1 milion umbrella policy to protect these assets.

Do I need an umbrella policy to protect my retirement plans and home? Better yet will such a policy do what I want it to do?
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