Civil Practice – Judgment – Execution – Exemptions – IRA – Early Withdrawals – Future Withdrawals

Kinlaw v. Harris. Although IRAs are normally exempt from judgment execution, this is to protect a judgment debtor in retirement. A trial court may determine, on a withdrawal-by-withdrawal basis, whether early withdrawals from an IRA are exempt from execution. We affirm the Court of Appeals' holding that G.S. § 1C-1601(a)(9) exempts defendant's IRAs from plaintiff's judgment against defendant. However, we reverse the Court of Appeals' vacation of the trial court's order requiring defendant to place in escrow any funds he may withdraw from his IRAs.

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North Carolina Lawyers Weekly

Civil Practice – Judgment – Execution – Exemptions – IRA – Early Withdrawals – Future Withdrawals

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