Bryan Wood
Well Known Member
I've been debating whether to bring this up for discussion or not here on the forums and have decided to do so. Recently I learned while talking to a friend that his father in law had been found at fault in a car accident and his 401K was successfully sued and emptied by the lawyers representing the person that was hurt in the accident. For some reason the thought of this happening had never crossed my mind as if a 401K was somehow protected from this sort of event.
With the backgrounds and exeriences of you folks out there, is there a way to shelter or protect ourselves on this? Obviously we have all taken on the risk of flying "Experimental" aircraft but this one sucks. Can trusts be set up that include 401K's and if so will the pre tax benefits still apply? Any info, anybody? Ideas, thoughts?
Best,
With the backgrounds and exeriences of you folks out there, is there a way to shelter or protect ourselves on this? Obviously we have all taken on the risk of flying "Experimental" aircraft but this one sucks. Can trusts be set up that include 401K's and if so will the pre tax benefits still apply? Any info, anybody? Ideas, thoughts?
Best,