Can a lawyer request money from his or her clients 401k plan at the clients request to catch up on bills such as mortgage payments before th...

Question

Can a lawyer request money from his or her clients 401k plan at the clients request to catch up on bills such as mortgage payments before they get too far behind?

Answer

Whether money can be withdrawn from a 401K depends on whether the plan language permits such withdrawals or loans. You would not need a lawyer to make such a request. Some plans allow it, Many do not.

Be aware that the tax penalty for some withdrawals is enormous (often 40% or more) so see a CPA before doing this. In other words, it may not be a good idea even if you can.

Answer

I am not sure that I understand the question.

If you owe money to the lawyer, the lawyer is not a bank and should not be fronting the costs of litigation for you. Its not illegal and if that is your only source of funds, then it would be a reasonable request for the lawyer to ask for payment of his or her earned fees.

On the other hand, if you are behind on your bills, then you need to consider your situation. You are taking exempt funds (meaning that the creditors usually cannot touch IRAs or pensions if they get a judgment against you) and applying them to your mortgage. If you are falling behind, maybe you need a modification. Or maybe you need to file bankruptcy. Before you take out funds, speak to a housing counselor (you can locate them through www.hud.gov) if you are in financial straits.

However, I have real problems if a lawyer is asking to borrow funds from you to catch up on the lawyer's mortgage and other bills. This is a sign that the lawyer is in trouble and needs help. A lawyer should NEVER take the client's property. If that is what the lawyer is doing, then you need to fire the lawyer.

If you decide to withdraw the funds, what Attorney Ashman says is correct. If you are under 59 1/2 years of age, there is going to be a tax penalty of 10% on early withdrawals. I also do not know if taxes have been paid on the income or not. If not, then it would be a good idea to withhold 20% for the IRS and extra for the state so you do not get hit with a tax bill next year.

My wife's grandfather passed away this year and her father passed away years ago. her aunt and uncle are splitting up my wife's fathers part...

Question

My wife's grandfather passed away this year and her father passed away years ago. her aunt and uncle are splitting up my wife's fathers part and i think it might go to her and her brother. also her aunt had the will changed about 2 years ago and i do not think her grandfather know what was going on is there a way to see the old will and the new one with out her aunt knowing.

Answer

If you have access to it, sure. Otherwise, an old will is revoked by the new will. You can challenge the persons competency or can argue undue influence. Visit kliszlaw.com to discuss further. Tim Klisz

Answer

Call for advice at 810-227-7200. I would be happy to speak with you.

Jules N. Fiani

What are the release dates for Man Caves - 2007 Steakhouse Cave - 8.4?

What are the release dates for Man Caves - 2007 Steakhouse Cave - 8.4?
Man Caves - 2007 Steakhouse Cave - 8.4 was released on:

USA: 7 October 2011

What does Tyler look for in a woman?

What does Tyler look for in a woman?
T and A

hi, if someone put pictures of my 13 month old son on facebook or any other social networking site, and i asked them a number of times in th...

Question

hi, if someone put pictures of my 13 month old son on facebook or any other social networking site, and i asked them a number of times in the past 2 weeks to take them down and the response i got back was "fuck off" or "no, i will do what i want it's my page!", what can i do about that?

Answer

1. notify facebook of the TOS violation and have him banned for all time

2. sue the basset

Answer

I agree with #1, not sure if there is merit to #2. It depends upon language used when picture was posted. This is a response to an Internet question and the reply is for informational purposes only and is not intended to be legal advice or as creating an attorney-client relationship. Missing or additional facts could result in different conclusions.

If a family member buy the house of a diseased parent can the state Medicade still take any of the money?

Question

If a family member buy the house of a diseased parent can the state Medicade still take any of the money?

Answer

If the family member buys it for less than fair market value or within three years of the person's death, Medicaid or Medicare can seek reimbursement. Also, there are the proceeds of the sale to be considered. The diseased person should consult directly with an estate planning attorney in their area. Many offer a free or low cost initial consultation.

Good luck

Code c1185 replace module then I knew about the relearn and when I started to take off the car stopped and would not stay running. Checked all fuses and the only thing that is not working is the fuel?

Code c1185 replace module then I knew about the relearn and when I started to take off the car stopped and would not stay running. Checked all fuses and the only thing that is not working is the fuel?
Say what? Replace module?? Oh brother! Why would someone replace module in the first place?! Because the module was bad. 34 years auto mech.