If I am responsible for an auto accident and am sued by the other driver, can he/she touch my IRA and pension?

UPDATED: Oct 2, 2022

Advertiser Disclosure

It’s all about you. We want to help you make the right legal decisions.

We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.

UPDATED: Oct 2, 2022Fact Checked

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

If I am responsible for an auto accident and am sued by the other driver, can he/she touch my IRA and pension?

My husband and I are retired senior citizens. Almost all of our assets are tied up in my IRA’s and a life insurance policy. He collects a monthly pension which covers our living expenses. I work part-time flexible hours helping the elderly in their own homes for a modest hourly rate. We live in an apartment in our son’s home. Aside from a 17 year old car and the IRA’s, we have no other assets. If I should have an auto accident and it is determined it is my fault, can the other driver successfully sue me if he/she has full tort? That is, can he/she touch my IRA’s or insurance?

Asked on August 25, 2019 under Accident Law, Pennsylvania


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

You can be sued, but from what you write, you are essentially what is commonly called "judgment proof," or to be accurate, since a judgment can be rendered against you, "collections proof"--since it is collecting from you that the plaintiff, or person suing you, would have difficulty.
An IRA cannot be garnished; a pension cannot be garnished; life insurance cannot be garnished. You don't own real estate. The only things at risk are your old car (which has little economic value) and whatever money you happen to have in a bank account.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption